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Why would any broker need a guarantee from a customer ? If they're worried
about defaults, that's what margins are for. If they believe that margins
don't adequately cover them then their risk management department isn't
doing its job. Which in turn means you shouldn't touch such a broker with
a barge pole.
$.02,
Stefan
At 13:00 17/09/03 -0700, omega-digest-request@xxxxxxxxxx wrote:
From: cwest [mailto:cwest@xxxxxxxxxxxx]
Sent: Wednesday, September 17, 2003 2:14 PM
To: omega-list@xxxxxxxxxx
Subject: PFG (broker)
Here's an issue that surprised me which it would seem prevents me from
having any clients with accounts at PFG. PFG requires anyone with
authority to trade a client's account to also guarantee that account! Is
this a (Futures) industry norm?
Colin West
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