01/25/2008 NFA首次宣布交易商“对赌”行为条例

redstart

新闻链接：http://www.nfa.futures.org/news/newsRuleSubLetter.asp?ArticleID=2009

简述：







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『外汇堂』
www.forex-town.com

谢谢！

yanyanhou

感谢介绍。

ss4420

我要下载一些指标就是没有金币，求帮忙

fbi

实质上很清楚，但事实却是很模糊.

manho

现在不能锁仓了...哈哈啊.

8老羊倌8

非常感谢，对赌的平台日子不好过啦

hiro

谢谢楼上提醒。

NFA的原来那个链接被他们调整过了，新的链接地址是

http://www.nfa.futures.org/news/ ... .asp?ArticleID=2009

玉龙行者

我怎么看到的链接是另外的内容呢？---

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For Immediate Release

For more information contact:
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org


NFA permanently bars Commodity Pool Operator and its principal; levies fine of $200,000

January 16, Chicago - National Futures Association (NFA) has permanently barred Cornerstone Capital Management LLC (Cornerstone) and its principal, Joseph Thomas Profit, Jr. (Profit), from NFA membership. Cornerstone and Profit must also pay a fine of $200,000. Cornerstone is a Commodity Pool Operator and Commodity Trading Advisor. The Decision, issued by an NFA Hearing Panel, is based on a Complaint filed in June 2007.

The Panel found that Cornerstone provided false and misleading information to NFA. In addition, the Panel found that Cornerstone failed to provide evidence that it had achieved advertised rates of return when customers actually lost money trading through their program. Finally, the Panel found that Cornerstone and Profit failed to adequately supervise the activities of their firm.

NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the derivatives markets.

keke123

楼主辛苦了

redstart

你指的propretary trading activities对于非FDM的FCM来说，分以下3种情况：

1，Margin Call。当客户的可用保证金接近负数时，经纪商会根据自身的风险政策主动平掉客户的头寸(Margin Call Liquidation)。平仓也是一笔交易。

2，银行、机构的对冲操作。客户在ECN平台交易，市场参与者除了零售客户，还有银行、对冲基金、机构等，大家互为交易对手。从银行层面（指和经纪商签约的清算银行机构）一般会把自己做的交易拿到Inter-bank做对冲(Hedge)，但银行的交易员Dealer有时候也会根据自己对市场判断，不做Hedge。

3，维护公平和有序的市场。如果客户的某笔交易是明显的错误交易(Clearly Erroneous Executions)，为了避免不当得利，最合适的方式是由经纪商做出调整或取消该交易，行业内（证券，期货，外汇无一例外）把这种操作叫Trade Break。

以上3个情况，除了第2个属于Affiliates（附属机构）,其余均是FCM自身的操作。但这和NFA关于FDM的披露条款内容显然是有明显区别的。

Hope this helps~

[ 本帖最后由 redstart 于 2008-2-3 12:37 编辑 ]

芦风

我是指这段话