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Kate,
My knowledge is hitting its limits in this area so I beg off slicing and
dicing the memberships. I suspect that unless you are up on all of the
nuances of various memberships, it would be best to stick with the whole
pie. My recollection is that Refco and Man were in the range of 2 times
required capital. Less than 1 and they would/should be enjoined from
operations by the CFTC.
Earl
----- Original Message -----
From: "ketayun" <ketayun@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, September 23, 2003 5:00 AM
Subject: [RT] Refco/Man Financial
> Hi Earl and Norman,
>
> Since Refco and Man Financial were not listed under NFA but rather under
> CBOT and CME respectively and their % caital/required capital is less
> than 1, do you suppose that they may not belong to NFA because of the
> reserve requirement?
>
> Attatched is the full sheet including the above two with ratios
> calculated/presented in column C.
>
> Your input as to these two clearing houses being large is appreciated.
> Any thoughts as to why they may not appear under NFA and have such low
> reserve ratios would be be welcome.
>
> Sincerely,
>
> Kate
>
>
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