CFTC-Registered Firms’ Excess to Net Capital: Table

(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’ excess net capital as a percentage of net adjusted 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.

Adjusted net capital is the amount of regulatory capital available to meet the minimum net capital requirement as set by the CFTC. Excess net capital is the amount by which adjusted net capital exceeds the net capital requirement. The higher the ratio, the more capital the firm has available beyond what is required.


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                                           Aug.       July       June      Year
                                           2011       2011       2011       Ago
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WELLS FARGO ADVISORS LLC                  99.8%      99.8%      99.8%      99.7%
CITADEL SECURITIES LLC                    99.8%      99.8%      99.8%      98.4%
TD AMERITRADE INC                         99.7%      99.7%      99.7%      99.4%
CIBC World Markets CORP                   99.6%      99.7%      99.7%      99.7%
Natixis Securities North America INC      99.5%      99.5%      99.5%      99.6%
AMERIPRISE FINANCIAL SERVICES INC         99.4%      99.4%      99.4%      99.3%
DAIWA CAPITAL MARKETS AMERICA INC         99.4%      99.6%      99.7%      99.5%
WELLS FARGO SECURITIES LLC                99.3%      99.2%      99.3%      99.2%
Nomura Securities INTERNATIONAL INC       98.9%      99.0%      98.7%      99.2%
Instinet LLC                              98.9%      97.9%      98.4%      99.2%
MITSUBISHI UFJ SECURITIES USA INC         98.7%      98.7%      98.6%      97.5%
BGC FINANCIAL LP                          98.4%      98.3%      98.2%      96.8%
STATE STREET GLOBAL MARKETS LLC           98.2%      98.4%      98.5%      99.7%
Morgan Keegan & COMPANY INC               98.1%      98.1%      98.1%      97.7%
ICAP CORPORATES LLC                       97.9%      98.1%        n/a        n/a
ROSENTHAL GLOBAL SECURITIES LLC           97.6%      98.0%      97.7%      97.9%
Cantor Fitzgerald & CO                    97.4%      96.7%      97.0%      98.3%
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                                           Aug.       July       June      Year
                                           2011       2011       2011       Ago
================================================================================
Tradelink LLC                             97.2%      96.2%      95.9%      96.3%
Neuberger Berman LLC                      96.9%      98.3%      98.0%      97.8%
Morgan Stanley SMITH BARNEY LLC           96.2%      97.0%      96.8%      97.1%
BNP Paribas Securities CORP               95.8%      96.5%      96.3%      95.8%
LPL FINANCIAL LLC                         95.7%      94.8%      93.1%      95.7%
Tradestation Securities INC               95.6%      95.5%      95.1%      95.5%
ALLIANZ GLOBAL INVESTORS DISTRIBUTOR      95.0%      95.0%      95.0%      82.9%
GUGGENHEIM SECURITIES LLC                 94.6%      97.2%        n/a        n/a
IKON GLOBAL MARKETS INC                   94.2%      94.0%      93.1%       7.3%
Timber Hill LLC                           93.8%      95.3%      95.2%      95.9%
Santander Investment Securities INC       93.7%      90.8%      97.0%      99.1%
Raymond James & Associates INC            93.0%      93.0%      91.6%      92.8%
JEFFERIES & COMPANY INC                   92.6%      89.1%        n/a        n/a
RBC Capital Markets  LLC                  92.5%      89.6%      92.4%      91.0%
SANFORD C BERNSTEIN & CO LLC              92.4%      91.7%      91.6%      91.1%
WELLS FARGO ADVISORS FINANCIAL            92.2%      90.5%      94.2%      85.4%
Merrill Lynch PROFESSIONAL CLEARING       92.1%      88.8%      86.9%      92.9%
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                                           Aug.       July       June      Year
                                           2011       2011       2011       Ago
================================================================================
MERRILL LYNCH PIERCE FENNER & SMITH       91.1%      91.6%      92.0%      87.6%
UBS Financial Services INC                91.1%      91.8%      91.6%      92.0%
Deutsche Bank Securities INC              90.1%      91.0%      92.0%      92.4%
UBS Securities LLC                        89.9%      91.4%      91.8%      91.4%
Citigroup Global Markets INC              89.8%      90.6%      90.2%      93.7%
GOLDMAN SACHS EXECUTION & CLEARING        89.5%      93.2%      92.4%      94.4%
Credit Suisse Securities (USA) LLC        88.9%      87.9%      88.5%      92.5%
PHILLIP FUTURES INC                       88.7%      90.0%        n/a        n/a
DORMAN TRADING LLC                        88.3%      90.0%      90.2%      85.0%
HSBC Securities USA INC                   88.2%      89.8%      91.1%      90.3%
RBS SECURITIES INC                        87.8%      89.6%      90.0%      90.4%
MBF CLEARING CORP                         87.8%      88.1%      88.6%      89.5%
STRAITS FINANCIAL LLC                     86.8%      87.8%        n/a        n/a
Interactive Brokers LLC                   86.7%      84.9%      83.7%      89.2%
BNY MELLON CLEARING LLC                   86.7%      98.3%      96.9%      85.6%
ICAP Futures LLC                          86.5%      87.2%      84.4%      88.1%
TENCO INC                                 86.4%      87.2%      84.2%      86.0%
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                                           Aug.       July       June      Year
                                           2011       2011       2011       Ago
================================================================================
JP MORGAN SECURITIES LLC                  85.6%      86.8%      87.0%      92.0%
Oppenheimer & Co INC                      85.1%      86.2%      84.9%      84.0%
EAGLE MARKET MAKERS INC                   84.0%      85.5%      86.2%      82.7%
MORGAN STANLEY & CO LLC                   83.3%      79.8%      82.6%      86.2%
PENSON FINANCIAL SERVICES INC             82.7%        n/a        n/a        n/a
OPTIONSXPRESS INC                         82.6%      89.1%      76.3%      88.7%
Oanda Corporation                         82.4%      82.6%      82.9%      82.2%
Barclays Capital INC                      82.4%      85.8%      86.6%      88.9%
STEPHENS                                  82.1%      83.3%      82.7%      83.7%
GOLDMAN SACHS & CO                        81.5%      83.4%      83.5%      82.5%
LEK SECURITIES CORPORATION                80.8%      85.2%      83.3%      85.5%
MCVEAN TRADING & INVESTMENTS LLC          80.6%      85.1%      86.6%      67.1%
CROSSLAND LLC                             79.9%      58.3%      67.9%      51.3%
BNP PARIBAS PRIME BROKERAGE INC           79.8%        n/a        n/a        n/a
RAND FINANCIAL SERVICES INC               77.0%      72.5%      78.4%      75.7%
STERLING COMMODITIES CORP                 75.9%      88.4%      88.0%      79.9%
COMPASS PROFESSIONAL SERVICES LLC         74.9%      76.3%      74.7%      69.2%
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                                           Aug.       July       June      Year
                                           2011       2011       2011       Ago
================================================================================
JP MORGAN CLEARING CORP                   72.1%      73.2%      72.2%      69.3%
CX CAPITAL MARKETS LLC                    71.9%      71.8%      64.0%      58.8%
Friedberg Mercantile Group INC            70.7%      70.5%      70.6%      70.4%
YORK BUSINESS ASSOCIATES LLC              70.6%      64.0%      59.4%      62.4%
Open E Cry LLC                            69.9%      64.0%      65.6%      70.3%
GLOBAL FUTURES & FOREX LTD                69.7%      69.2%      68.1%      66.9%
Pioneer Futures INC                       68.6%      66.1%      66.1%      55.1%
Mizuho Securities USA INC                 68.0%      66.6%      78.2%      86.8%
VISION FINANCIAL MARKETS LLC              68.0%      61.6%      55.4%      66.7%
IRONBEAM INC                              67.1%      69.6%      66.7%        n/a
Mitsui Bussan Commodities USA INC         66.5%      66.2%      67.3%      44.0%
Forex Capital Markets LLC                 66.4%      56.4%      60.3%      66.5%
CUNNINGHAM COMMODITIES LLC                64.8%      69.1%      69.3%      70.2%
MAREX USA LIMITED                         62.7%      41.7%      64.7%      68.3%
WHITE COMMERCIAL CORPORATION              62.5%      57.7%      60.3%      62.9%
ITG DERIVATIVES LLC                       59.4%      56.1%      60.2%      77.2%
LINN GROUP THE                            55.8%      60.5%      59.2%      49.9%
================================================================================
                                           Aug.       July       June      Year
                                           2011       2011       2011       Ago
================================================================================
Gain Capital Group  LLC                   54.8%      65.1%      50.0%      65.1%
LIMESTONE TRADING LLC                     54.3%      78.1%      84.9%      90.0%
COMMONWEALTH FOREIGN EXCHANGE INC         54.2%       8.9%      47.5%      34.5%
PENSON FUTURES                            53.5%      32.1%      22.6%      24.3%
Capital Market Services LLC               50.1%      59.8%      67.6%      25.1%
ADVANTAGE FUTURES LLC                     49.5%      41.2%      37.7%      60.8%
MACQUARIE FUTURES USA INC                 48.1%      49.1%      52.3%      44.3%
VELOCITY FUTURES LLC                      47.4%      38.9%      43.5%      42.3%
FRONTIER FUTURES INC                      46.7%      47.5%      46.5%      36.8%
FX Solutions LLC                          46.0%      46.9%      46.4%      44.2%
ADM Investor Services INC                 45.8%      47.2%      47.1%      39.0%
MID CO COMMODITIES INC                    45.2%      51.8%      49.9%      52.1%
ABN AMRO CLEARING CHICAGO LLC             44.1%      55.0%      49.1%      70.5%
EASY FOREX US LTD                         43.5%      44.2%      44.9%      66.5%
Peregrine Financial Group INC             41.0%      41.1%      41.9%      42.4%
MAREX NORTH AMERICA LLC                   39.1%      46.3%        n/a        n/a
INTEGRATED BROKERAGE SERVICES LLC         38.7%      37.9%      37.5%      45.8%
================================================================================
                                           Aug.       July       June      Year
                                           2011       2011       2011       Ago
================================================================================
FCSTONE LLC                               38.6%      43.0%      45.0%      30.4%
FXDIRECTDEALER LLC                        38.0%      32.3%      15.0%      40.5%
TCA FUTURES LLC                           37.4%      38.2%      38.9%      37.5%
FUTURES TECH LLC                          37.2%      37.7%      36.2%      37.7%
AMP GLOBAL CLEARING LLC                   36.1%      32.4%      31.6%      23.8%
TOWER RESEARCH CAPITAL EUROPE LLC         35.4%      41.5%      35.0%      75.7%
Rosenthal Collins Group LLC               35.2%      31.0%      32.8%      37.4%
Tradition Securities and Futures INC      35.2%      35.1%      35.2%      36.1%
BNP Paribas Commodity Futures INC         34.4%      34.0%      37.0%      47.4%
Newedge USA LLC                           34.1%      30.8%      35.0%      48.2%
RJ OBRIEN ASSOCIATES LLC                  33.8%      35.2%      33.3%      35.1%
MF Global INC                             33.7%     -52.8%      29.9%      27.1%
WALL STREET DERIVATIVES INC               32.3%      33.5%        n/a        n/a
Enskilda Futures LTD                      22.6%      35.9%      49.0%      34.8%
Alpari (US) LLC                           21.4%      21.2%      21.4%       2.4%
MB TRADING FUTURES INC                    19.8%      21.7%      19.9%      18.4%
Country Hedging INC                       18.1%      29.9%      29.0%      22.6%
================================================================================
                                           Aug.       July       June      Year
                                           2011       2011       2011       Ago
================================================================================
JEFFERIES BACHE LLC                       16.6%      25.1%        n/a        n/a
INTERBANK FX LLC                          15.3%      17.0%      16.8%      25.8%
TRADESTATION FOREX INC                    13.3%      13.2%        n/a        n/a
XPRESSTRADE LLC                           12.5%      12.4%        n/a        n/a
FOREX CLUB LLC                             4.3%       3.4%       1.2%       8.2%
INSTITUTIONAL LIQUIDITY LLC                3.9%       4.9%       5.0%        n/a
Advanced Markets LLC                       2.2%       1.6%       0.7%       3.7%
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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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