CFTC-Registered Firms’ Excess Net Capital for January

Following is a table detailing Futures Commission Merchants’ excess net capital as of the end of January. 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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                                            Jan.            Dec.            Nov.
                                            2012            2011            2011
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UBS SECURITIES LLC               $11,456,373,367 $11,317,320,232 $10,913,465,708
GOLDMAN SACHS & CO                $9,871,344,906  $9,514,091,251 $10,053,446,408
MERRILL LYNCH PIERCE FENNER & SM  $9,864,162,913  $9,958,224,834 $10,246,366,180
JP MORGAN SECURITIES LLC          $8,845,093,344  $9,549,940,677  $9,028,461,673
DEUTSCHE BANK SECURITIES INC      $7,948,708,776  $7,501,482,296  $6,733,397,837
MORGAN STANLEY & CO LLC           $7,269,534,502  $7,215,499,224  $7,581,913,105
CITIGROUP GLOBAL MARKETS INC      $7,028,866,096  $6,978,215,875  $6,831,312,418
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                                            Jan.            Dec.            Nov.
                                            2012            2011            2011
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CREDIT SUISSE SECURITIES (USA) L  $6,279,018,745  $7,329,802,765  $5,501,861,744
BARCLAYS CAPITAL INC              $5,367,654,060  $5,420,945,970  $5,182,698,955
JP MORGAN CLEARING CORP           $5,126,892,334  $5,503,085,606  $5,534,976,680
RBS SECURITIES INC                $3,073,901,452  $2,865,890,349  $2,929,317,159
NOMURA SECURITIES INTERNATIONAL   $2,326,927,404  $2,434,196,482  $2,002,713,330
WELLS FARGO SECURITIES LLC        $1,985,713,718  $2,007,411,838  $1,826,263,681
MERRILL LYNCH PROFESSIONAL CLEAR  $1,973,269,862  $3,285,853,039  $2,979,645,668
GOLDMAN SACHS EXECUTION & CLEARI  $1,971,639,794  $1,997,073,661  $1,841,316,138
BNP PARIBAS PRIME BROKERAGE INC   $1,871,619,932  $1,937,002,405  $1,931,293,032
BNP PARIBAS SECURITIES CORP       $1,742,229,245  $1,917,370,867  $2,047,353,764
WELLS FARGO ADVISORS LLC          $1,469,624,329  $1,447,231,415    $601,102,298
RBC CAPITAL MARKETS LLC           $1,360,742,421  $1,285,605,374  $1,145,818,651
UBS FINANCIAL SERVICES INC        $1,057,785,487  $1,057,265,701  $1,159,101,655
INTERACTIVE BROKERS LLC           $1,032,943,119  $1,203,363,006  $1,150,266,163
HSBC SECURITIES USA INC           $1,007,370,813  $1,083,507,941    $980,462,075
MORGAN STANLEY SMITH BARNEY LLC     $921,537,361    $805,516,427  $1,508,544,733
NEWEDGE USA LLC                     $902,985,158    $975,506,855    $963,062,263
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                                            Jan.            Dec.            Nov.
                                            2012            2011            2011
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TIMBER HILL LLC                     $770,038,009    $790,786,211    $848,102,427
JEFFERIES & COMPANY INC             $745,975,529    $928,939,622    $883,527,656
MORGAN KEEGAN & COMPANY INC         $547,271,542    $538,691,478    $456,707,612
CIBC WORLD MARKETS CORP             $493,347,697    $498,640,583    $497,616,644
CITADEL SECURITIES LLC              $492,900,597    $459,712,467    $498,190,056
STATE STREET GLOBAL MARKETS LLC     $442,946,564    $428,208,222    $415,512,453
RAYMOND JAMES & ASSOCIATES INC      $366,248,528    $331,968,803    $377,157,011
NATIXIS SECURITIES AMERICAS LLC     $350,450,052    $358,813,450    $337,492,955
TD AMERITRADE INC                   $295,595,972    $275,307,123    $320,221,316
SANTANDER INVESTMENT SECURITIES     $282,300,921     $80,871,485    $213,955,644
DAIWA CAPITAL MARKETS AMERICA IN    $277,119,894    $298,875,576    $272,322,171
MIZUHO SECURITIES USA INC           $263,323,517    $307,249,847    $279,791,391
CANTOR FITZGERALD & CO              $255,805,212    $278,811,823    $306,683,286
BNY MELLON CLEARING LLC             $250,203,342    $245,350,723    $229,450,859
MITSUBISHI UFJ SECURITIES USA IN    $240,481,962    $244,572,631    $221,141,827
ABN AMRO CLEARING CHICAGO LLC       $155,544,564    $182,608,579    $139,263,752
OPPENHEIMER & CO INC                $133,459,685    $121,754,379    $115,973,077
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                                            Jan.            Dec.            Nov.
                                            2012            2011            2011
================================================================================
INSTINET LLC                        $123,584,546    $130,271,029    $123,088,872
OANDA CORPORATION                   $120,584,321    $113,134,990    $120,538,557
PENSON FINANCIAL SERVICES INC       $114,645,034    $116,699,016    $128,457,343
LPL FINANCIAL LLC                   $109,399,588     $93,916,390    $126,466,072
ADM INVESTOR SERVICES INC           $107,493,397    $116,685,004    $110,411,379
SANFORD C BERNSTEIN & CO LLC        $105,418,950     $95,996,840    $160,110,113
JEFFERIES BACHE LLC                  $79,284,000    $111,391,720    $112,349,760
MACQUARIE FUTURES USA LLC            $78,307,437     $70,518,406     $62,405,832
STEPHENS INC                         $69,469,111     $71,416,436     $70,042,504
RJ OBRIEN ASSOCIATES LLC             $69,312,714     $75,453,650     $87,001,390
OPTIONSXPRESS INC                    $67,565,796     $74,124,345     $74,196,718
AMERIPRISE FINANCIAL SERVICES IN     $67,282,696    $113,975,113    $105,601,468
GUGGENHEIM SECURITIES LLC            $66,766,448     $61,170,194     $49,197,798
RAND FINANCIAL SERVICES INC          $59,426,284     $62,429,707     $57,831,958
TENCO INC                            $56,708,982     $56,268,885     $56,701,681
BGC FINANCIAL LP                     $53,666,070     $58,241,089     $40,185,675
GLOBAL FUTURES & FOREX LTD           $53,486,025     $55,749,109     $56,252,857
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                                            Jan.            Dec.            Nov.
                                            2012            2011            2011
================================================================================
ICAP CORPORATES LLC                  $48,013,056     $51,288,042     $46,836,625
TRADESTATION SECURITIES INC          $47,355,737     $52,174,671     $52,431,282
FCSTONE LLC                          $43,550,725     $44,871,097     $51,051,835
WELLS FARGO ADVISORS FINANCIAL N     $39,974,404     $31,998,183     $30,372,557
GAIN CAPITAL GROUP LLC               $36,572,093     $11,070,928     $25,007,447
ROSENTHAL GLOBAL SECURITIES LLC      $33,593,097     $41,604,041     $47,578,730
NEUBERGER BERMAN LLC                 $23,848,889    $100,268,984     $90,405,210
ENSKILDA FUTURES LTD                 $20,106,089     $17,935,350      $7,142,412
TRADELINK LLC                        $20,047,127     $28,804,251     $32,347,711
VISION FINANCIAL MARKETS LLC         $19,609,366     $23,031,370     $23,244,951
FX SOLUTIONS LLC                     $19,555,336     $21,032,903     $22,900,293
ROSENTHAL COLLINS GROUP LLC          $15,570,135     $28,162,037     $27,392,351
PEREGRINE FINANCIAL GROUP INC        $11,513,249     $12,555,556     $13,179,418
MCVEAN TRADING & INVESTMENTS LLC     $11,004,745     $12,648,732     $12,181,710
FOREX CAPITAL MARKETS LLC            $10,912,693      $4,507,937      $4,586,397
ADVANTAGE FUTURES LLC                 $9,683,718      $9,652,653      $8,758,248
MAREX NORTH AMERICA LLC               $8,826,914      $9,299,493     $10,686,127
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                                            Jan.            Dec.            Nov.
                                            2012            2011            2011
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LEK SECURITIES CORPORATION            $8,695,057      $6,862,812      $7,506,459
GH FINANCIALS LLC                     $8,159,941      $8,316,092      $8,367,894
PHILLIP FUTURES INC                   $7,541,691      $7,315,748      $7,176,326
DORMAN TRADING LLC                    $7,451,060      $7,806,953      $7,535,132
STRAITS FINANCIAL LLC                 $6,028,995      $6,575,308      $6,226,449
COUNTRY HEDGING INC                   $6,025,634      $6,121,512      $8,262,732
FXDIRECTDEALER LLC                    $5,842,354      $6,600,525     $13,313,354
EAGLE MARKET MAKERS INC               $5,672,718      $5,850,265      $5,510,122
CROSSLAND LLC                         $5,105,132      $5,523,874      $4,906,826
ALPARI (US) LLC                       $3,897,423      $5,364,372      $3,810,820
MB TRADING FUTURES INC                $3,583,948      $3,961,335      $5,165,543
IKON GLOBAL MARKETS INC               $3,105,458      $8,069,658     $12,745,958
XPRESSTRADE LLC                       $2,985,018      $2,972,452      $2,990,403
ITG DERIVATIVES LLC                   $2,646,817      $2,458,875      $1,967,936
MID CO COMMODITIES INC                $2,466,033      $7,340,904      $7,417,597
CX CAPITAL MARKETS LLC                $2,438,934      $2,476,105      $2,515,955
CUNNINGHAM COMMODITIES LLC            $2,168,148      $2,068,330      $1,982,685
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                                            Jan.            Dec.            Nov.
                                            2012            2011            2011
================================================================================
MITSUI BUSSAN COMMODITIES USA IN      $1,880,697      $1,872,848      $1,909,506
FRIEDBERG MERCANTILE GROUP INC        $1,810,904      $1,822,365      $2,058,719
OPEN E CRY LLC                        $1,741,802      $1,943,662      $2,081,818
IRONBEAM INC                          $1,707,316      $1,954,674      $1,947,826
CAPITAL MARKET SERVICES LLC           $1,656,471      $2,029,324      $1,331,878
LINN GROUP THE                        $1,493,673      $1,841,578      $1,578,568
MBF CLEARING CORP                     $1,489,337      $5,206,290      $5,019,671
MAREX USA LIMITED                     $1,396,631      $1,354,140      $1,749,405
WHITE COMMERCIAL CORPORATION          $1,256,921      $1,706,910      $1,740,413
PIONEER FUTURES INC                   $1,195,729      $1,457,563      $1,941,592
FRONTIER FUTURES INC                    $900,265        $921,603        $915,428
AMP GLOBAL CLEARING LLC                 $837,837        $804,321        $801,849
STERLING COMMODITIES CORP               $779,838        $704,395      $1,322,597
EASY FOREX US LTD                       $663,365        $686,103        $703,920
COMMONWEALTH FOREIGN EXCHANGE IN        $660,087         $97,600      $1,163,814
YORK BUSINESS ASSOCIATES LLC            $650,074        $613,629        $186,692
FUTURES TECH LLC                        $566,857        $585,137        $597,835
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                                            Jan.            Dec.            Nov.
                                            2012            2011            2011
================================================================================
ADVANCED MARKETS LLC                    $523,266        $542,742        $687,502
TRADITION SECURITIES AND FUTURES        $515,857        $515,705        $517,157
FOREX CLUB LLC                          $187,518        $923,338      $1,369,883
INSTITUTIONAL LIQUIDITY LLC             $142,670         $66,042        $106,026
VELOCITY FUTURES LLC                     $91,003        $675,512        $793,441
INTEGRATED BROKERAGE SERVICES LL         $39,360        $548,446        $590,922
ALLIANZ GLOBAL INVESTORS DISTRIB              $0              $0     $72,829,684
INTERBANK FX LLC                              $0              $0      $4,995,655
LIMESTONE TRADING LLC                         $0              $0              $0
PENSON FUTURES                                $0              $0              $0
TOWER RESEARCH CAPITAL EUROPE LL              $0              $0              $0
TRADESTATION FOREX INC                 -$171,308      $2,159,009      $4,911,071
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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
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                                            Jan.            Dec.            Nov.
                                            2012            2011            2011
================================================================================
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: Stephen Rose in Washington at srose31@bloomberg.net

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

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