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What if he go broken ?
Posted: Thu May 13, 2010 10:03 am
What happen at money costumer if brokerage house go broken?
Posted: Thu May 13, 2010 11:02 am
Posted: Fri May 14, 2010 12:53 am
Ultimately you can loose all your money with the clearer if they go broke.
From the link ......
"If a default occurred in either of the clearing memberâ€™s customer segregated or customer secured accounts, CME Clearing has the right to apply toward the default all performance bond deposits and positions within the respective account at CME Clearing. Accordingly, positions and performance bonds deposited by customers not causing the default are potentially at risk if there is a default in the respective customer account of their clearing member and may be liquidated."
Risk of this until a few years ago was considered minimal. Now however....
Little different from a run on a bank.