Comment Text:
This is absolutely a terrible suggestion especially since the MFGlobal, Sentinel and PFGBEST debacles without any protection of customer funds. While it is nice that the MFGlobal customers got their money back after 2 years it is absolutely appalling that a suggestion like this exists while the CFTC still has not held USBank as well as the NFA accountable for enabling the PFGBEST situation to occur due to illegally enabling PFGBEST owner to commingle and leverage customer funds and positions for his own benefit. This is absolutely despicable considering PFGBEST customers are still waiting for their money and the majority of introducing brokers myself included has seen their businesses destroyed courtesy of the unwillingness of the CFTC to get after the perpetrators, US Bank and the NFA, that enabled the PFGBEST fraud to take place and reoccur over many years. It would be great if you looked out for customer money first before enabling any commingling of funds and positions in any shape or manner. Additionally it would be nice if CFTC looked after customer account protections before considering items like this one. Moreover, why does the CFTC fail to have any true advocates for clients working on their behalf. Over the years the laws, rules and regulations have been created by the exchanges, the SRO's as well as the major investment banking houses at the expense of the public. So while you peddle your high frequency trader blames you might want to look at yourself as an organization funded by citizens that continue to enable fraud without any customer account protections.
