futures trading scandal

Discussion in 'Economy' started by uscitizen, Jul 17, 2012.

  1. uscitizen
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    uscitizen Senior Member

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    TAMPA, Jul 11, 2012 (Tampa Tribune - McClatchy-Tribune Information Services via COMTEX) --

    A scandal at a Chicago commodities trading company could put at risk investor dollars overseen by at least two Tampa investment companies.

    This week, regulators froze the assets of a Chicago company called Peregrine Financial Group. Among its duties, Peregrine processed, or "cleared," the trades of brokers across the country who trade in oil futures and other commodity futures.

    The industry's regulatory group, the National Futures Association, alleges that Peregrine misappropriated millions of customer dollars that it was holding. For example, the company reported that it had $225 million of customer money deposited in a bank, but the NFA discovered it had only $5 million on deposit there.



    Futures scandal snares 2 Tampa brokerages
     
  2. uscitizen
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    uscitizen Senior Member

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    About Your Traders
    James Cordier

    James Cordier is Principal and Founder of Liberty Trading Group in Tampa, Florida. With over 20 years of trading experience, he is quoted regularly on the futures markets in several national and international publications including the Wall Street Journal, Barrons, Forbes, CNN Money and Dow Jones Newswires. He is a regular guest analyst on CNBC, Bloomberg Television and Fox Business News.

    Mr. Cordier and his firm specialize in option writing and have developed a strategy of selling out of the money options on futures contracts that they share with clients of their brokerage.

    Mr. Cordier manages portfolios for private clients on six continents and hosts his own website Managed Stock Option Selling with Option Trading Strategies.

    About Your Liberty Trading Group Traders
     
  3. Dante
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    Dante On leave Supporting Member

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    I hate these pricks:mad:
     

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