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I called LFG in Chicago,
I was told there is no problem meeting the CME minimum capital
requirements and LFG wasn't going "belly up".
The REFCO thing was neither confirmed or denied, but if a deal came
about then
being absorbed into another firm wouldn't cause any problems as far as
an individual account was concerned.
I asked about he dipping below the CME's minimum capitol requirement.
Apparently this is something that happen in '99.
Don
Earl Adamy wrote:
>
> Best info I can come up with at this time:
>
> 1) LFG's proprietary trading operation took some hits a week or two ago
> and they fell below CME minimum capital requirements which are
> apparently more stringent than CFTC's 4%.
>
> 2) LFG shut down much/most of proprietary trading and did some other
> reorg plus as well as getting some fresh capital
>
> Thanks for the heads up as I am on cusp of opening another large account
> with LFG - I am monitoring and will advise if I learn anything more.
>
> Earl
>
> ----- Original Message -----
> From: "Don Thompson" <detomps@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, March 22, 2000 6:35 PM
> Subject: [RT] LFG,L.L.C
>
> > Rt's,
> >
> > Securities Week wrote a small article on March 20th that LFG was,
> > "struggling to maintain and/or meet its capital compliance
> requirements
> > was very close to striking a deal with Refco"
> >
> > March 20, 2000 pg 7
> >
> > Anyone know more about this? LFG has the LEOWEB internet connection
> to
> > globex. I am thinking of using it,,,, but if they are haveing
> > difficulty maintaining capitol requirements... I am not sure I am
> > willing to turn over my money, if its at risk in this manner.
> >
> > Appeciate any comment or insight
> >
> > Don Thompson
> >
> >
> >
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