Over the last twenty four hours the futures industry was roiled by another clearing firm collapse. For those of you who have not yet heard, Peregrine Financial Group (“PFG”), was shuttered Monday. Regulators late in the afternoon confirmed the industry’s worst fears that nearly a quarter billion dollars in customer funds were determined to be missing. This has impacted many of Turnkey Trading Partners’ (“TTP”) customers and their clients. Our thoughts and prayers go to those who have been affected by this situation.
Rather than rehash the soap opera like story surrounding this event we’d like to turn your direction to an excellent summary of yesterday’s events. This publication comes from Attain Capital Group which was one of PFG’s largest independent introducing brokers and a close friend to TTP.
While we don’t agree with all of their proposed solutions, Attain raises many valid thoughts certainly worth considering as we all come to terms with what’s occurred.
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The Futures Market’s Darkest Day: PFG Collapse
Published 07/11/2012, 12:04 AM
Updated 07/09/2023, 06:31 AM
The Futures Market’s Darkest Day: PFG Collapse
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