Who would pay the insurance premiums? Adding up all the direct and indirect bailouts (Admin, Congress, Fed) results in a staggering number. I am quite dubious the typical ETer would be willing to pay what would be far more than "10c" per-trade fee to cover the full cost of insurance.
When you deposit money in your checking/savings account, you dont pay FDIC insurance. Neither do you pay SIPC insurance when you deposit money in a brokerage account. Why should futures accounts be any different? its the same George Washington . -gariki