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Does anybody know if customer T-Bills held by LFG are susceptible to LFG's
financial stability, or are they beyond LFG's reach at the NY Fed?
Patrick White
----- Original Message -----
From: "Don Thompson" <detomps@xxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, March 23, 2000 1:56 PM
Subject: [RT] Re: LFG,L.L.C
> 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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