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Hello I4Lothian,
Dear John,
I always wanted to write a dear John letter (are you single?) so here.
I wish to thank you very much for that exhaustive (at least for the
normal quality of post I see on various list) explanation.  I have one
more favor to ask of you kind sir, do you or anyone know of what the
monetary requirements are to become the various stages of a FCM? Or
better yet not to waste your time is there an online site that details
that information.  Once again thank you, TQ   %^)
Iac> There are at least three kinds of FCMs: Non-clearing Fully Disclosed FCM, 
Iac> Non-clearing Non-Disclosed FCMs and Clearing FCMs.  Some would say there is a 
Iac> fourth kind, a fraudulent FCM.
-- 
Best regards,
 TheQuant                            mailto:thequant@xxxxxxxxx
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