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I'm an IB with LFG and nobody I've spoken to has confirmed this grapevine
story as being true.
Its late so the people I normally talk to are gone but I spoke with our
globex folks and they said this was news to them. Earlier Jim asked about a
clearing firm that had a 69 million dollar margin call this morning. I
called our margin dept and they said it wasn't LFG and didn't know anything
about who it might be. If I find out any different I will let you know. But
for right now business as usual at LFG nite trading and if they were below
required reserves I don't think they would or could be trading tonight.
Robert
Walt Downs wrote:
>I am passing this along the grapeviane as a "heads-up" to those to
>whom it may apply:
>"
>To all who have an accound with LFG...suggest that you check with your
>broker...it is my understanding...as of the end of the trading
>today...LFG due to large currency trading lossess..dropped below they
>required reserves."
>
>Walt Downs
>CIS Trading
>
>
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