今天又收到MBT的email

sixsi

Dear Valued Client,

We feel it is important that you stay informed about the terms and conditions that govern the use of your forex account. We have updated your Forex Customer Account Agreement (“Agreement”) and Forex Risk Disclosure. To review the updated Agreement and Disclosure, please go to http://www.mbtrading.com/fx/f/AccountAgreement.pdf and http://www.mbtrading.com/fx/f/riskdiscstatement.pdf.

Thank you for affording us with the opportunity to assist you in meeting your investment goals.
  
Sincerely,
MB Trading Futures

似乎是说MBT更新了协议，更以前的协议有什么不同呢？

redstart

应该是重新发的邮件 再通知一下客户。

NFA不是要求4月份左右 经纪商以电子邮件的方式通知所有客户开户协议的更新吗？

大致看了一下，

主要是更新了这段话，在风险披露里面(Risk Disclosure)：

MBTF AS COUNTERPARTY

THE FOREIGN CURRENCY TRADING YOUR ARE ENTERED INTO IS NOT CONDUCTED ON THE EXCHANGE. MBTF IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACT AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. THE PRICES MBTF OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE.

ALTHOUGH MBTF IS THE COUNTERPARTY TO EACH OF YOUR TRADE, MBTF LIMITS RISK TO ITSELF BY INSTANTANEOUSLY OFFSETTING THE TRADES AND POSITIONS IT ENTERS WITH YOU WITH A BANK OR INSTITUTIONAL MARKET MAKER. AS A RESULT, MBTF DOES NOT PROFIT WHEN YOU LOSE MONEY ON A GRADE. RATHER, MBTF EARNS COMMISSIONS ON EACH TRADES IT ENTERS INTO WITH YOU. THE AMOUNT OF COMMISSIONS CHARGED IS DISCLOSURED ON MBTF'S WEBSITE AT WWW.MBTRADING.COM/FX/COMMISSIONS.ASP

中文意思：

您参与的外汇交易不是在交易所进行。MBTF是作为你的交易对手(Counterparty)。因此，当你卖出时作为买家当你买入时作为卖家。 MBTF提供的价格也许不是当时最好的价格。

尽管MBTF是你每笔交易的交易对手，MBTF通过将您交易的头寸瞬时地提交给银行或者机构做市商来抵消风险。作为结果，MBTF不会因为您的亏损获任何利润。相反的，MBTF通过您的每笔交易收取佣金。佣金的计算可以在www.mbtrading.com/fx/commissions.asp 查看

sinrong

MBTF通过将您交易的头寸瞬时地提交给银行或者机构做市商来抵消风险.

sixsi

是不是可以这样理解。
ECN和MM的区别就在于“瞬间”与“不瞬间”

hiro

只要是NFA会员，不管是ECN还是MM，现在都要强制性提供这个风险提示。

但是这个和ECN模式本身的性质没有任何关系。ECN还是ECN，MM还是MM。该提示不会改变平台实际采用何种模式的事实。