Bloomberg News

CFTC-Registered Firms’ Adjusted Net Capital for December

February 11, 2013

Following is a table detailing Futures Commission Merchants’ adjusted net capital as of the end of December. These firms act as brokers for any commodity for future delivery on or subject to the rules of any exchange. They must file monthly financial reports with the Commodity Futures Trading Commission.

Adjusted net capital is the amount of regulatory capital available to meet the minimum net capital requirement as set by the CFTC.

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                                            Dec.            Nov.            Oct.
                                            2012            2012            2012
================================================================================
GOLDMAN SACHS & CO               $14,591,157,935 $13,657,672,599 $13,623,454,922
JP MORGAN SECURITIES LLC         $13,490,844,081 $12,877,315,779 $12,464,524,585
UBS SECURITIES LLC               $11,173,957,202 $12,463,245,543 $12,494,193,009
MERRILL LYNCH PIERCE FENNER & SM $10,335,957,499 $10,839,931,383 $10,630,966,357
DEUTSCHE BANK SECURITIES INC      $9,293,709,654  $8,221,331,905  $7,958,292,708
CREDIT SUISSE SECURITIES (USA) L  $8,684,106,921  $8,131,002,017  $5,961,090,948
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                                            Dec.            Nov.            Oct.
                                            2012            2012            2012
================================================================================
MORGAN STANLEY & CO LLC           $7,820,289,124  $8,597,858,762  $8,291,855,187
JP MORGAN CLEARING CORP           $6,629,500,338  $6,996,209,283  $7,024,707,465
CITIGROUP GLOBAL MARKETS INC      $6,249,699,821  $7,078,493,676  $7,210,014,582
BARCLAYS CAPITAL INC              $5,348,789,513  $5,955,668,939  $5,964,383,677
RBS SECURITIES INC                $3,788,207,410  $4,056,392,603  $3,975,156,255
WELLS FARGO SECURITIES LLC        $2,548,769,366  $2,383,384,825  $2,537,802,688
NOMURA SECURITIES INTERNATIONAL   $2,230,414,250  $2,562,481,330  $2,128,211,310
BNP PARIBAS PRIME BROKERAGE INC   $2,220,205,135  $2,229,083,903  $2,172,562,892
MORGAN STANLEY SMITH BARNEY LLC   $2,167,164,997  $2,608,609,586  $2,595,817,103
MERRILL LYNCH PROFESSIONAL CLEAR  $2,065,894,140  $1,854,021,090  $2,058,317,814
GOLDMAN SACHS EXECUTION & CLEARI  $2,024,794,323  $2,052,952,536  $2,177,523,756
NEWEDGE USA LLC                   $1,925,281,788  $1,919,698,287  $1,926,356,586
BNP PARIBAS SECURITIES CORP       $1,884,696,738  $1,821,300,040  $1,815,843,351
INTERACTIVE BROKERS LLC           $1,633,402,224  $1,653,816,271  $1,702,927,695
RBC CAPITAL MARKETS LLC           $1,522,575,193  $1,378,961,228    $971,038,494
UBS FINANCIAL SERVICES INC        $1,184,612,501  $1,169,303,990  $1,174,614,137
WELLS FARGO ADVISORS LLC          $1,117,335,810  $1,202,727,632  $1,357,325,564
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                                            Dec.            Nov.            Oct.
                                            2012            2012            2012
================================================================================
HSBC SECURITIES USA INC           $1,109,433,118  $1,139,447,649  $1,140,627,736
CIBC WORLD MARKETS CORP             $553,536,901    $537,068,355    $502,913,323
MIZUHO SECURITIES USA INC           $508,618,691    $471,448,962    $453,159,707
STATE STREET GLOBAL MARKETS LLC     $487,366,542    $480,854,134    $480,479,216
CITADEL SECURITIES LLC              $431,472,319    $418,854,026    $399,316,792
TIMBER HILL LLC                     $394,067,015    $682,606,418    $760,298,908
NATIXIS SECURITIES AMERICAS LLC     $358,217,051    $364,202,479    $365,842,576
ABN AMRO CLEARING CHICAGO LLC       $350,578,604    $325,764,974    $318,596,193
KNIGHT CAPITAL AMERICAS LLC         $312,004,892    $286,578,740    $251,324,852
DAIWA CAPITAL MARKETS AMERICA IN    $295,540,444    $290,532,971    $273,757,837
BNY MELLON CLEARING LLC             $291,655,566    $293,322,027    $294,600,190
RAYMOND JAMES & ASSOCIATES INC      $291,408,332    $323,849,391    $343,366,366
ADM INVESTOR SERVICES INC           $272,947,871    $303,497,365    $290,805,222
MORGAN KEEGAN & COMPANY INC         $270,833,042    $260,219,655    $261,938,402
CANTOR FITZGERALD & CO              $251,262,221    $253,886,699    $231,141,836
TD AMERITRADE INC                   $249,195,109    $245,550,600    $274,761,747
JEFFERIES BACHE LLC                 $247,598,000    $252,281,000    $252,477,000
================================================================================
                                            Dec.            Nov.            Oct.
                                            2012            2012            2012
================================================================================
MITSUBISHI UFJ SECURITIES USA IN    $231,282,088    $223,490,851    $226,606,914
RJ OBRIEN ASSOCIATES LLC            $211,176,609    $212,351,699    $208,432,557
OPPENHEIMER & CO INC                $167,360,708    $145,876,082    $156,247,324
OANDA CORPORATION                   $150,570,879    $152,685,581    $151,095,498
SANFORD C BERNSTEIN & CO LLC        $144,422,126    $148,963,318    $160,785,625
INSTINET LLC                        $104,818,884     $99,138,955    $109,147,282
SANTANDER INVESTMENT SECURITIES     $102,071,082    $296,300,558    $218,448,210
MACQUARIE FUTURES USA LLC           $101,163,604     $92,745,988     $93,149,719
STEPHENS INC                        $100,048,977     $87,283,448     $85,293,833
FCSTONE LLC                          $98,704,304    $114,951,251    $117,422,194
AMERIPRISE FINANCIAL SERVICES IN     $88,337,373     $92,927,315     $96,178,908
OPTIONSXPRESS INC                    $86,744,298     $82,057,830     $78,874,220
ROSENTHAL COLLINS GROUP LLC          $82,601,814     $86,690,911     $89,443,261
RAND FINANCIAL SERVICES INC          $76,848,531     $77,150,727     $76,495,496
LPL FINANCIAL LLC                    $61,535,031    $107,029,992    $132,086,160
NEUBERGER BERMAN LLC                 $58,672,505     $46,558,185     $40,650,574
GUGGENHEIM SECURITIES LLC            $55,858,450     $71,166,574     $61,790,650
================================================================================
                                            Dec.            Nov.            Oct.
                                            2012            2012            2012
================================================================================
FOREX CAPITAL MARKETS LLC            $54,442,335     $57,462,879     $50,578,600
TRADESTATION SECURITIES INC          $48,275,064     $50,114,495     $52,224,998
GAIN CAPITAL GROUP LLC               $46,313,116     $34,745,690     $38,719,266
BGC FINANCIAL LP                     $45,790,095     $54,654,298     $39,191,872
ENSKILDA FUTURES LTD                 $39,098,072     $39,242,611     $36,176,833
WELLS FARGO ADVISORS FINANCIAL N     $34,734,872     $33,428,981     $38,906,772
VISION FINANCIAL MARKETS LLC         $33,127,635     $30,418,410     $28,924,585
IKON GLOBAL MARKETS INC              $28,353,584     $11,848,894     $13,711,365
PHILLIP FUTURES INC                  $27,785,792     $27,478,112     $27,853,108
FX SOLUTIONS LLC                     $27,586,704     $24,896,737     $28,026,423
ADVANTAGE FUTURES LLC                $24,796,372     $23,023,146     $22,564,141
ALPARI (US) LLC                      $24,654,774     $25,576,917     $29,033,344
MB TRADING FUTURES INC               $24,094,761     $23,023,172     $23,905,792
FXDIRECTDEALER LLC                   $23,336,393     $17,382,012     $26,907,682
XPRESSTRADE LLC                      $22,867,582     $22,862,905     $22,860,330
INSTITUTIONAL LIQUIDITY LLC          $21,406,837     $20,286,725     $21,202,609
ADVANCED MARKETS LLC                 $20,065,873     $20,206,127     $20,154,640
================================================================================
                                            Dec.            Nov.            Oct.
                                            2012            2012            2012
================================================================================
TRADELINK LLC                        $17,039,617     $13,836,013     $15,316,665
MCVEAN TRADING & INVESTMENTS LLC     $13,651,697     $13,949,866     $14,035,401
LEK SECURITIES CORPORATION           $10,096,439     $10,556,929     $10,778,982
MAREX NORTH AMERICA LLC               $9,683,425     $10,780,117     $11,242,494
STRAITS FINANCIAL LLC                 $9,345,506      $9,600,140      $9,427,185
DORMAN TRADING LLC                    $9,278,443      $9,531,873      $9,288,597
MID CO COMMODITIES INC                $9,240,787      $9,495,544     $11,704,825
GH FINANCIALS LLC                     $8,331,965      $8,460,011      $8,538,014
CROSSLAND LLC                         $7,479,358      $7,505,031      $7,773,598
EAGLE MARKET MAKERS INC               $6,126,386      $5,856,545      $5,975,018
GLOBAL FUTURES & FOREX LTD            $6,034,974      $8,026,986     $57,684,443
ITG DERIVATIVES LLC                   $4,812,179      $4,609,566      $4,792,667
FRIEDBERG MERCANTILE GROUP INC        $3,599,301      $3,597,240      $3,591,094
LINN GROUP THE                        $3,586,901      $3,580,239      $3,494,157
YORK BUSINESS ASSOCIATES LLC          $3,585,633      $3,451,640      $3,458,238
MITSUI BUSSAN COMMODITIES USA IN      $3,116,950      $3,315,359      $3,396,840
CX CAPITAL MARKETS LLC                $2,979,102      $3,308,155      $3,335,793
================================================================================
                                            Dec.            Nov.            Oct.
                                            2012            2012            2012
================================================================================
MAREX USA LIMITED                     $2,978,244      $2,777,765      $2,788,724
CUNNINGHAM COMMODITIES LLC            $2,767,943      $2,760,248      $2,846,630
AMP GLOBAL CLEARING LLC               $2,510,557      $2,554,075      $2,503,190
WHITE COMMERCIAL CORPORATION          $2,483,562      $2,649,543      $2,847,411
IRONBEAM INC                          $2,305,020      $2,419,127      $2,491,948
CAPITAL MARKET SERVICES LLC           $2,148,909      $1,408,343      $2,578,374
FRONTIER FUTURES INC                  $1,962,977      $1,956,229      $2,011,925
PIONEER FUTURES INC                   $1,718,071      $1,690,705      $1,686,052
VELOCITY FUTURES LLC                  $1,543,335      $1,542,362      $1,575,397
EASY FOREX US LTD                     $1,458,083      $1,465,682      $1,472,210
COMMONWEALTH FOREIGN EXCHANGE IN      $1,249,384      $1,234,285      $1,031,593
TRADITION SECURITIES AND FUTURES              $0      $1,559,754      $1,509,617
INTEGRATED BROKERAGE SERVICES LL        -$98,197         $79,873        $102,215
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NOTE: A firm’s net capital requirement is the greater of: (1) $250,000,
(2) risk based capital requirement, the sum of 8% of total customer
risk maintenance margin and 4% of total noncustomer
risk maintenance margin; or (3) the amount of capital
required by a registered futures association; (4) for
securities brokers and dealers, the amount of net capital
required by Rule 15c3-1(a) of the Securities Exchange
Commission.

To contact the reporter on this story: Stephen Rose in Washington at srose31@bloomberg.net

To contact the editor responsible for this story: Alex Tanzi at atanzi@bloomberg.net


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