CFTC-Registered Firms’ Change in Excess Net Capital

(Corrects name of Penson Futures and adds Penson Financial Services in table that originally ran on Oct. 18.)

Following is a table detailing Futures Commission Merchants’ monthly change in excess net capital for August. These firms act as brokers for any commodity for future delivery on or subject to the rules of any exchange. They must file monthly financial reports with the Commodity Futures Trading Commission.

Excess net capital is the amount by which adjusted net capital exceeds the net capital requirement as set by the CFTC.

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                                        Aug.        July        June        Aug.
                                        2011        2011        2011       YOY%
================================================================================
COMMONWEALTH FOREIGN EXCHANGE        1117.6%      -89.3%        9.0%      124.5%
MAREX USA LIMITED                     135.0%      -60.9%        8.0%      -21.9%
FOREX CAPITAL MARKETS LLC              56.1%      -15.4%      -15.6%       12.6%
VELOCITY FUTURES LLC                   41.5%      -17.1%       -9.4%       22.8%
================================================================================
                                        Aug.        July        June        Aug.
                                        2011        2011        2011       YOY%
================================================================================
YORK BUSINESS ASSOCIATES LLC           35.1%       21.3%      -14.4%       44.9%
TRADELINK LLC                          33.8%       10.4%       -7.7%       31.4%
ADVANCED MARKETS LLC                   32.8%      123.3%        2.5%      -42.3%
JEFFERIES & COMPANY INC                32.5%         n/a         n/a         n/a
RBC CAPITAL MARKETS LLC                28.5%      -26.5%       20.4%       26.6%
FXDIRECTDEALER LLC                     27.6%      171.1%       24.5%      -12.7%
FOREX CLUB LLC                         26.9%      226.4%      500.8%      -44.4%
CROSSLAND LLC                          25.6%       -6.7%       35.1%      128.4%
CANTOR FITZGERALD & CO                 25.4%       -9.9%       89.9%      117.0%
MIZUHO SECURITIES USA INC              24.3%      -38.2%       25.2%      -42.8%
WHITE COMMERCIAL CORPORATION           22.1%      -10.2%       13.6%       -1.5%
ROSENTHAL COLLINS GROUP LLC            20.8%       -8.9%        9.0%       10.6%
WELLS FARGO SECURITIES LLC             20.8%       -0.5%       29.1%       53.0%
LPL FINANCIAL LLC                      20.8%       32.8%        3.8%       17.7%
MORGAN STANLEY & CO LLC                20.3%      -13.4%       15.2%      -17.3%
MERRILL LYNCH PROFESSIONAL CLEARING    20.0%       10.9%      -18.2%        4.6%
AMP GLOBAL CLEARING LLC                18.1%        3.8%        2.5%       81.6%
================================================================================
                                        Aug.        July        June        Aug.
                                        2011        2011        2011       YOY%
================================================================================
CITADEL SECURITIES LLC                 15.3%        3.5%        2.6%       27.1%
ADVANTAGE FUTURES LLC                  14.9%       26.8%      -35.2%      -31.4%
ITG DERIVATIVES LLC                    14.4%      -15.5%      -14.9%      -56.9%
MITSUBISHI UFJ SECURITIES USA          14.1%        1.2%       -1.2%       57.7%
BNP PARIBAS SECURITIES CORP            13.9%        3.1%        2.8%       16.5%
PIONEER FUTURES INC                    11.8%        0.1%      -12.7%       77.8%
NEWEDGE USA LLC                        11.6%      -12.2%       38.0%      -35.9%
AMERIPRISE FINANCIAL SERVICES          11.6%       -1.8%        6.9%       16.8%
TD AMERITRADE INC                      11.2%       13.1%      -19.0%      122.2%
VISION FINANCIAL MARKETS LLC           10.9%       24.0%        2.1%       22.3%
DAIWA CAPITAL MARKETS AMERICA          10.8%       -6.2%        1.7%       63.2%
CREDIT SUISSE SECURITIES (USA)          9.5%       -5.3%       18.8%      -19.3%
MERRILL LYNCH PIERCE FENNER             6.7%       -6.4%       -1.8%       94.0%
NOMURA SECURITIES INTERNATIONAL         6.6%       10.7%        2.0%      105.0%
TRADESTATION SECURITIES INC             5.2%       -1.0%       -6.1%      -22.4%
RAND FINANCIAL SERVICES INC             5.1%       -4.1%        9.8%        8.0%
SANTANDER INVESTMENT SECURITIES         4.5%      -59.6%      171.9%       99.8%
================================================================================
                                        Aug.        July        June        Aug.
                                        2011        2011        2011       YOY%
================================================================================
UBS FINANCIAL SERVICES INC              4.5%       -0.3%        2.7%       18.0%
IKON GLOBAL MARKETS INC                 4.2%       14.7%       -6.8%      918.9%
INTERACTIVE BROKERS LLC                 3.6%        5.8%       -0.9%       22.0%
INTEGRATED BROKERAGE SERVICES           3.6%        1.5%       -3.0%      -25.2%
SANFORD C BERNSTEIN & CO LLC            3.0%        0.2%        7.5%       15.3%
OPEN E CRY LLC                          2.8%        7.5%        9.5%       -3.2%
STATE STREET GLOBAL MARKETS LLC         2.4%       -0.2%        5.1%       13.0%
GLOBAL FUTURES & FOREX LTD              2.3%        4.8%        1.0%        4.1%
BGC FINANCIAL LP                        2.1%      -18.6%       26.7%       98.5%
NATIXIS SECURITIES NORTH AMERICA        1.8%        3.2%       -5.3%       -4.3%
MITSUI BUSSAN COMMODITIES USA           1.3%       -5.1%        2.0%      -50.3%
ALPARI (US) LLC                         1.2%       -1.3%        0.5%     1020.7%
INSTINET LLC                            1.2%       -3.6%        0.7%       -3.2%
TRADESTATION FOREX INC                  0.9%         n/a         n/a         n/a
XPRESSTRADE LLC                         0.8%         n/a         n/a         n/a
CITIGROUP GLOBAL MARKETS INC            0.7%        6.3%       -5.0%      -23.5%
FRIEDBERG MERCANTILE GROUP INC          0.6%       -0.1%        0.4%        1.1%
================================================================================
                                        Aug.        July        June        Aug.
                                        2011        2011        2011       YOY%
================================================================================
CX CAPITAL MARKETS LLC                  0.5%       43.8%       -0.5%       79.9%
TRADITION SECURITIES AND FUTURES        0.1%        0.0%        0.0%       -4.1%
ALLIANZ GLOBAL INVESTORS                0.0%        0.0%      -19.8%       81.2%
OANDA CORPORATION                      -0.1%       -4.7%        2.7%       -5.4%
TENCO INC                              -0.1%        4.1%        9.7%       16.4%
MACQUARIE FUTURES USA INC              -0.3%       -5.8%        2.2%       73.7%
RAYMOND JAMES & ASSOCIATES INC         -0.3%       15.8%       -7.5%       14.7%
BNP PARIBAS COMMODITY FUTURES          -0.5%      -10.6%       35.8%      -26.5%
WELLS FARGO ADVISORS FINANCIAL         -0.5%        8.3%        5.1%      137.8%
WELLS FARGO ADVISORS LLC               -0.5%       10.6%       10.5%       85.7%
JP MORGAN CLEARING CORP                -0.6%        2.4%       23.3%       42.6%
PEREGRINE FINANCIAL GROUP INC          -1.1%       -3.4%        2.2%        0.1%
FUTURES TECH LLC                       -2.1%        6.5%       -2.3%       -2.3%
GOLDMAN SACHS & CO                     -2.2%       -0.1%        2.7%        5.2%
CUNNINGHAM COMMODITIES LLC             -2.3%       -0.8%       -1.7%       -7.1%
FRONTIER FUTURES INC                   -2.6%        3.1%       16.2%       36.5%
OPPENHEIMER & CO INC                   -2.7%        3.9%        3.1%        8.5%
================================================================================
                                        Aug.        July        June        Aug.
                                        2011        2011        2011       YOY%
================================================================================
RJ OBRIEN ASSOCIATES LLC               -2.8%        4.3%        5.5%       39.6%
TCA FUTURES LLC                        -3.1%       -2.9%        9.6%       -0.2%
EASY FOREX US LTD                      -3.1%       -2.6%       -3.5%      -61.3%
ADM INVESTOR SERVICES INC              -3.1%        1.9%      -11.6%       64.4%
MBF CLEARING CORP                      -3.2%       -4.8%        0.4%      -29.3%
PHILLIP FUTURES INC                    -3.2%         n/a         n/a         n/a
JP MORGAN SECURITIES LLC               -3.3%        4.0%       28.9%       55.8%
FX SOLUTIONS LLC                       -3.5%        1.9%       -2.8%        7.7%
HSBC SECURITIES USA INC                -4.1%       -5.6%        1.7%       -6.6%
MORGAN KEEGAN & COMPANY INC            -4.7%        4.6%       -3.1%        9.8%
ICAP FUTURES LLC                       -5.2%       25.6%      -13.7%      -13.1%
OPTIONSXPRESS INC                      -5.2%        7.8%       -6.8%      -36.9%
WALL STREET DERIVATIVES INC            -5.3%         n/a         n/a         n/a
UBS SECURITIES LLC                     -5.8%        1.0%        2.1%       -4.3%
ICAP CORPORATES LLC                    -5.8%         n/a         n/a         n/a
DORMAN TRADING LLC                     -5.9%       -1.8%        0.2%       49.9%
RBS SECURITIES INC                     -5.9%        7.8%       27.9%       26.3%
================================================================================
                                        Aug.        July        June        Aug.
                                        2011        2011        2011       YOY%
================================================================================
DEUTSCHE BANK SECURITIES INC           -6.1%       -3.1%       10.2%       -7.3%
BARCLAYS CAPITAL INC                   -6.4%       -2.0%        4.5%      -20.8%
MCVEAN TRADING & INVESTMENTS LLC       -7.1%       26.4%       22.9%       50.5%
GOLDMAN SACHS EXECUTION, CLEARING      -7.6%        6.1%       -2.8%      -14.5%
COMPASS PROFESSIONAL SERVICES          -7.7%        9.1%        1.5%       32.4%
STEPHENS                               -8.5%        7.4%       -7.0%       -8.0%
STRAITS FINANCIAL LLC                  -8.9%         n/a         n/a         n/a
EAGLE MARKET MAKERS INC               -10.7%       -5.8%       12.0%       10.3%
MB TRADING FUTURES INC                -10.9%       11.4%       84.1%       15.8%
IRONBEAM INC                          -10.9%       14.0%        8.3%         n/a
FCSTONE LLC                           -11.3%       -6.3%       71.8%      102.0%
INTERBANK FX LLC                      -11.7%        1.7%       35.4%      -49.0%
BNY MELLON CLEARING LLC               -13.7%      145.8%        0.4%      959.2%
CIBC WORLD MARKETS CORP               -13.9%       10.7%       -6.7%      -38.6%
ROSENTHAL GLOBAL SECURITIES LLC       -14.6%       13.6%       -2.7%       -9.8%
TIMBER HILL LLC                       -14.9%        0.4%       -5.0%      -11.6%
LEK SECURITIES CORPORATION            -17.4%       15.7%        0.8%      -19.4%
================================================================================
                                        Aug.        July        June        Aug.
                                        2011        2011        2011       YOY%
================================================================================
LINN GROUP THE                        -17.5%        5.4%       -6.7%       27.1%
MORGAN STANLEY SMITH BARNEY LLC       -18.6%        4.3%        5.1%      -21.4%
MID CO COMMODITIES INC                -18.8%        3.7%       -5.8%       14.3%
INSTITUTIONAL LIQUIDITY LLC           -20.9%       -2.2%        0.3%         n/a
TOWER RESEARCH CAPITAL EUROPE         -23.0%       32.1%      -80.7%      -82.5%
ABN AMRO CLEARING CHICAGO LLC         -25.2%       21.4%       21.4%      -38.1%
MAREX NORTH AMERICA LLC               -25.4%         n/a         n/a         n/a
CAPITAL MARKET SERVICES LLC           -32.5%      -28.8%       19.3%      -85.2%
JEFFERIES BACHE LLC                   -33.7%         n/a         n/a         n/a
GAIN CAPITAL GROUP LLC                -35.2%       83.1%      -33.8%      -39.0%
ENSKILDA FUTURES LTD                  -37.4%      -25.8%       39.3%      -27.6%
GUGGENHEIM SECURITIES LLC             -43.2%         n/a         n/a         n/a
NEUBERGER BERMAN LLC                  -48.0%       20.2%      111.4%      -29.6%
COUNTRY HEDGING INC                   -49.4%       -1.1%       34.8%      -13.2%
STERLING COMMODITIES CORP             -58.6%        3.4%        1.6%      -50.6%
LIMESTONE TRADING LLC                 -66.7%      -36.5%      -15.4%      -86.8%
PENSON FUTURES                        -89.2%       49.3%       62.7%      -81.4%
================================================================================
                                        Aug.        July        June        Aug.
                                        2011        2011        2011       YOY%
================================================================================
MF GLOBAL INC                        -211.0%     -188.1%       64.2%        9.6%
================================================================================
NOTE: A firm’s net capital requirement is the greater of: (1) $250,000,
(2) risk based capital requirement, the sum of 8% of total customer
risk maintenance margin and 4% of total noncustomer
risk maintenance margin; or (3) the amount of capital
required by a registered futures association; (4) for
securities brokers and dealers, the amount of net capital
required by Rule 15c3-1(a) of the Securities Exchange
Commission.

To contact the reporter on this story: Mike Sebany in Washington at msebany@bloomberg.net

To contact the editor responsible for this story: Alex Tanzi at atanzi@bloomberg.net

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