CFTC-Registered Firms’ Change in Adjusted Net Capital

Following is a table detailing Futures Commission Merchants’ monthly change in adjusted 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.

Adjusted net capital is the amount of regulatory capital available to meet the minimum net capital requirement as set by the CFTC.

================================================================================
                                        Aug.        July        June        Aug.
                                        2012        2012        2012       YOY%
================================================================================
MIZUHO SECURITIES USA INC              36.5%        0.8%      -12.6%       65.9%
CREDIT SUISSE SECURITIES (USA) L       34.0%       -7.9%      -33.9%      -22.1%
ALPARI (US) LLC                        19.9%       -9.6%       32.1%       18.7%
MERRILL LYNCH PROFESSIONAL CLEAR       19.8%       -1.3%       -7.8%       -3.7%
MAREX USA LIMITED                      16.6%      -15.2%      -11.6%       60.7%
DEUTSCHE BANK SECURITIES INC           13.6%       -8.8%        0.2%       21.7%
================================================================================
                                        Aug.        July        June        Aug.
                                        2012        2012        2012       YOY%
================================================================================
TIMBER HILL LLC                        13.3%      -12.2%      -14.6%      -30.0%
TRADELINK LLC                          12.8%       -9.4%       21.5%      -41.7%
NEUBERGER BERMAN LLC                   12.4%       92.1%      -68.0%      -69.8%
OPEN E CRY LLC                         10.9%       44.9%      -37.6%      -28.5%
CIBC WORLD MARKETS CORP                10.8%       -1.9%       -6.4%        6.5%
VISION FINANCIAL MARKETS LLC           10.4%      -10.7%       20.2%      -14.8%
YORK BUSINESS ASSOCIATES LLC           10.1%       39.4%       12.3%       20.1%
MITSUBISHI UFJ SECURITIES USA IN        9.8%      -17.3%        2.2%      126.4%
JP MORGAN SECURITIES LLC                8.2%       -2.1%        3.3%        6.3%
MORGAN KEEGAN & COMPANY INC             6.9%       16.2%      -14.7%      -41.6%
RBS SECURITIES INC                      6.7%        1.7%       12.8%       72.1%
INTERACTIVE BROKERS LLC                 6.5%        6.0%       -8.9%       20.3%
COUNTRY HEDGING INC                     6.5%       17.5%       -0.7%        2.6%
WELLS FARGO SECURITIES LLC              6.4%        7.0%        2.1%       61.3%
ENSKILDA FUTURES LTD                    5.9%      -14.2%       -3.2%       20.4%
ITG DERIVATIVES LLC                     5.0%       -2.5%        6.0%       84.9%
NATIXIS SECURITIES AMERICAS LLC         4.9%       -1.5%       -5.3%       69.2%
================================================================================
                                        Aug.        July        June        Aug.
                                        2012        2012        2012       YOY%
================================================================================
CITIGROUP GLOBAL MARKETS INC            4.3%       -6.6%       -3.0%       -7.0%
BNP PARIBAS SECURITIES CORP             4.2%        0.5%       -4.5%       13.4%
BARCLAYS CAPITAL INC                    4.1%       -6.9%        9.5%       11.3%
BNY MELLON CLEARING LLC                 4.1%       -0.5%       -1.7%      -12.9%
EAGLE MARKET MAKERS INC                 4.1%        0.2%       -4.1%      -10.0%
CANTOR FITZGERALD & CO                  3.8%       -2.6%       22.0%        2.0%
GOLDMAN SACHS & CO                      3.7%       -0.1%        2.8%       24.0%
FCSTONE LLC                             3.5%        7.7%        6.5%       11.1%
TD AMERITRADE INC                       3.5%       10.8%      -35.3%      -24.4%
ROSENTHAL COLLINS GROUP LLC             3.4%        6.0%       11.8%       47.5%
OPTIONSXPRESS INC                       3.0%        4.5%        1.1%       -2.2%
MORGAN STANLEY SMITH BARNEY LLC         2.7%       22.2%       34.9%       89.5%
DORMAN TRADING LLC                      2.6%        0.4%       -1.4%       -3.6%
MAREX NORTH AMERICA LLC                 2.6%       -7.7%       -8.9%       34.4%
STRAITS FINANCIAL LLC                   2.2%       -1.4%       37.0%       19.0%
HSBC SECURITIES USA INC                 2.1%       -0.2%       -2.4%       10.3%
NEWEDGE USA LLC                         1.8%        0.3%      -15.3%      -12.3%
================================================================================
                                        Aug.        July        June        Aug.
                                        2012        2012        2012       YOY%
================================================================================
FOREX CAPITAL MARKETS LLC               1.8%       -9.5%       55.8%      -10.9%
BNP PARIBAS PRIME BROKERAGE INC         1.6%       -4.3%        1.9%         n/a
TRADESTATION SECURITIES INC             1.5%       -0.4%        3.6%       -8.0%
MERRILL LYNCH PIERCE FENNER & SM        1.4%        0.6%        0.7%       15.6%
MB TRADING FUTURES INC                  1.2%       -0.1%       -0.8%      -11.9%
STATE STREET GLOBAL MARKETS LLC         1.1%        1.2%        1.5%       12.0%
FRONTIER FUTURES INC                    0.8%        1.5%        1.6%        4.7%
RJ OBRIEN ASSOCIATES LLC                0.7%        7.7%        3.7%       26.7%
ADVANTAGE FUTURES LLC                   0.7%       -0.8%       -5.8%        3.5%
PIONEER FUTURES INC                     0.7%       -2.5%        5.6%      -40.2%
JEFFERIES & COMPANY INC                 0.6%       -6.1%       10.3%       34.1%
WHITE COMMERCIAL CORPORATION            0.5%        0.5%        6.2%        8.6%
GH FINANCIALS LLC                       0.5%        0.3%       -1.6%         n/a
FRIEDBERG MERCANTILE GROUP INC          0.4%        1.1%        0.9%      -15.9%
ABN AMRO CLEARING CHICAGO LLC           0.4%       18.1%      -12.0%       25.8%
LINN GROUP THE                          0.2%       36.2%       -5.7%       45.9%
FOREX CLUB LLC                          0.1%       -0.4%        1.0%       -2.5%
================================================================================
                                        Aug.        July        June        Aug.
                                        2012        2012        2012       YOY%
================================================================================
XPRESSTRADE LLC                         0.1%       -0.6%        0.0%        0.1%
MACQUARIE FUTURES USA LLC               0.1%      -28.9%       -7.1%      -28.1%
GOLDMAN SACHS EXECUTION & CLEARI        0.1%        0.6%       -1.0%       21.8%
INSTITUTIONAL LIQUIDITY LLC             0.0%       -4.0%        1.6%       -0.7%
TRADITION SECURITIES AND FUTURES        0.0%        0.0%        0.0%       -1.7%
UBS FINANCIAL SERVICES INC              0.0%        3.0%        4.2%      -10.6%
FX SOLUTIONS LLC                       -0.1%        2.9%        2.9%      -26.9%
RAND FINANCIAL SERVICES INC            -0.1%       -0.5%        1.7%        0.0%
OPPENHEIMER & CO INC                   -0.2%        3.1%       -2.3%      -12.1%
IRONBEAM INC                           -0.3%        1.6%      -15.2%      -21.3%
JP MORGAN CLEARING CORP                -0.3%       -1.9%       -1.7%        1.1%
ADVANCED MARKETS LLC                   -0.3%       -0.5%       -0.1%       -0.7%
CX CAPITAL MARKETS LLC                 -0.4%       -0.5%       -0.1%       -5.9%
UBS SECURITIES LLC                     -0.5%        1.4%        1.0%       12.2%
COMMONWEALTH FOREIGN EXCHANGE IN       -0.5%       -5.2%        3.1%       62.6%
AMP GLOBAL CLEARING LLC                -0.6%       -6.3%        8.7%       59.2%
JEFFERIES BACHE LLC                    -0.6%       -0.6%       -0.3%       -7.7%
================================================================================
                                        Aug.        July        June        Aug.
                                        2012        2012        2012       YOY%
================================================================================
ADM INVESTOR SERVICES INC              -0.6%        3.5%        1.9%        7.1%
MORGAN STANLEY & CO LLC                -0.9%        2.4%      -13.5%       21.5%
CROSSLAND LLC                          -1.0%        3.0%        1.0%      -39.4%
CAPITAL MARKET SERVICES LLC            -1.3%        1.6%       18.8%       12.9%
CUNNINGHAM COMMODITIES LLC             -1.6%        6.7%        9.6%       -4.1%
EASY FOREX US LTD                      -2.4%       -1.5%       -3.7%      -17.5%
OANDA CORPORATION                      -2.6%        3.4%        9.7%       -7.1%
LEK SECURITIES CORPORATION             -2.7%        3.0%       29.2%       16.8%
WELLS FARGO ADVISORS FINANCIAL N       -2.8%        0.3%      -22.5%      -37.5%
RAYMOND JAMES & ASSOCIATES INC         -3.2%       10.6%       -6.3%      -26.3%
CITADEL SECURITIES LLC                 -3.6%       21.8%       -7.6%       -2.1%
IKON GLOBAL MARKETS INC                -3.8%       61.3%        4.1%       -3.3%
SANTANDER INVESTMENT SECURITIES        -4.0%       10.7%       69.0%      -18.8%
SANFORD C BERNSTEIN & CO LLC           -4.1%        1.0%       14.5%      -14.1%
ICAP CORPORATES LLC                    -4.2%        6.8%      -11.7%      -11.6%
MCVEAN TRADING & INVESTMENTS LLC       -4.2%       -2.0%        2.7%       -7.3%
PHILLIP FUTURES INC                    -4.2%        2.1%      206.0%      176.4%
================================================================================
                                        Aug.        July        June        Aug.
                                        2012        2012        2012       YOY%
================================================================================
STEPHENS INC                           -4.2%        9.9%       -6.0%        8.0%
RBC CAPITAL MARKETS LLC                -4.7%        0.7%        7.2%       51.7%
MID CO COMMODITIES INC                 -5.5%        0.9%        0.3%      -27.9%
FXDIRECTDEALER LLC                     -5.8%       -2.7%       12.6%      -22.5%
INSTINET LLC                           -6.3%        5.8%       -7.8%       -8.8%
VELOCITY FUTURES LLC                   -6.4%       -0.9%       -3.2%       -8.0%
MITSUI BUSSAN COMMODITIES USA IN       -6.9%        4.9%       -0.2%       -2.4%
GLOBAL FUTURES & FOREX LTD             -7.3%       -9.8%        1.9%      -24.6%
NOMURA SECURITIES INTERNATIONAL        -7.3%        0.0%       -0.4%       -2.2%
WELLS FARGO ADVISORS LLC               -8.3%        7.3%       20.6%       37.3%
LPL FINANCIAL LLC                      -8.3%        5.0%       -1.5%       -1.0%
MBF CLEARING CORP                     -11.1%       80.2%      -26.1%      -75.1%
GUGGENHEIM SECURITIES LLC             -13.0%        8.1%        8.3%      -20.7%
DAIWA CAPITAL MARKETS AMERICA IN      -13.2%        4.9%        0.5%        2.2%
AMERIPRISE FINANCIAL SERVICES IN      -13.9%       -4.0%       42.6%      -28.2%
GAIN CAPITAL GROUP LLC                -17.0%        1.6%       14.3%      -31.6%
BGC FINANCIAL LP                      -26.3%       -8.5%        4.0%      -29.2%
================================================================================
                                        Aug.        July        June        Aug.
                                        2012        2012        2012       YOY%
================================================================================
INTEGRATED BROKERAGE SERVICES LL      -61.8%      -80.0%        0.1%      -93.8%
================================================================================
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: Stephen Rose in Washington at srose31@bloomberg.net

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.