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Walt Downs wrote:
> As an item for those interested in how realtime trading results are
> sometimes generated by system vendors and even CTA's for purposes of
> disclosure documentation:
>
Walt, that may work for a CTA until the NFA comes and audits the CTA
which is for sure once a year! I do not believe any real (that is a
non-publishing) CTA would ever risk misleading the public or other
professionals. Other publishing CTA's that are not NFA members may do
such without detection, because they are not subject to the same yearly
audits like a real CTA is. Many people are fooled and confused by the
publishing and non-publishing CTA issue. The way you can tell the
difference is a non-publishing CTA has no Series 3 licenses, and a Real
CTA has a Series 3 licenses. If a Series 3 broker has a CTA then he is a
NFA member and he is Registered with the NFA and the CFTC, a CTA without
a Series 3 is Registered to the NFA and the CFTC. However the CFTC has
no other regulatory arm than the NFA. So if a non-publishing CTA is not
a MEMBER of the NFA then he CAN NOT be Regulated and audited by the NFA.
Again I do not know of ANY Real CTA's who would go through the crap we
have to go through to mislead the public for maybe one year, only to get
caught and fined by the NFA?
TC a real cta!
btw> LW had 10 other accounts each with 10,000 when he won that contest!
But you only heard about the one that won! A well planned myth that is
perpetuated by the unknowing until this day.
>
>
> Walt Downs
> CIS Trading
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