Discussion in 'Retail Brokers' started by Ares, Aug 23, 2011.
Yeah, I switched brokers...
by coincidence or what info. prompted your move?
Don't worry. Your $1k Mirus account won't be raided.
However I am a bit worried
This never happened before in their history
Not a good sign
Look at some of the other big frims on that list:
Prudential bache -600 mil
RBS -300 mil
UBS -1400 mil
Those are banks that have been very close to a collapse
If you can't sleep at night then move your funds. Similar thing happened in fall of '08 with FCStone (who were not as well funded as RCG)- moved my funds but they are still around. Haven't moved back yet because I have become complacent, but have been giving them a look once again.
Moral: It's not Refco
you're ignorant on this matter. That's not a big fluctuation. For all you know, some of their institutional clients have been long stock index futures, and taking a hit.
What you should pay attention to, in my view, is the operating capital and excess capital.
I would view, perhaps a 50%+ decline in Cust. Seg. Funds as perhaps indicative of a bigger problem, but these numbers fluctuate greatly.
I cleared through MF Global while their Cust. Seg. Funds fell from about $10bb to ~$8bb.
It's really not a big deal.
Whenever there are turn downs in the overall market there will be a shakeout in the money houses.
Separate names with a comma.