BEST MINDS KEEP IT SIMPLE

摘要

Every year that I have covered this industry, Futures and now Modern Trader has been taking the pulse of the futures brokerage community once a year. This has covered many important changes in the industry. For the last several years, it has all been about handling the regulations from Dodd-Frank and fallout from the MF Global and Peregrine Financial debacles. It has been a tough several years for futures commission merchants (FCMs). But now we seem to be entering a "post-history" era for FCMs. The markets are now nearly completely electronic, additional capital rules are in place, cleared over-the-counters trading is not as desirable and non-bank FCMs are not really players.