Who negative who wins for 5 years wind cloud record

Who negative who
The futures of D

Wang Wei builds 2007-5

Problem
It is some, whole
It is some, formerly
We spy upon American TOP 50 together

REFCO that ranks 7th in the FCM ranking roll of 2001 Rui the company of good fortune because of scandal influence, the stock price in 1 or 2 weeks from the U.S. dollars more than 20 Zhou fall to tens of cents, eventually, bankruptcy had been taken over. Reader whether is as me , still still store for this incident before some years in heart to reserve doubt? What manage business is just really steady and reliable, can you carry out long-term strategic cooperation? This text will refer to history and current official data and the development tendency of science and technology carry out development for the FCM profession of America to comment , give personal viewpoint , foresee the future development direction of profession, as well as combination China manages field present situation and policy change, open profession train of thought.

A, not perfect
This ranking is announced by CFTC , and issues in" futures magazine", it is June 30,2001 and September 30,2006 to collect data time. Ranking the customer with major reference index of FCM company old net asset volume Customer Equity( or name customer rights and interests) D D finger customer in America when the trade carried out by volume futures trading, manage company's FCM needs, for customer to hold storehouse, divide the fund that keeps apart. It is the net sum of liquid assets of all account , and need to report to American CFTC. The asset of external exchange need not be reported to CFTC.

Insider knows , manage the customer amount of rights and interests of company and conclude quantity to be related , but being not just linear is related. Conclude quantity row trip with member and hold the not uniform appearance of storehouse quantity row trip is similar, certain member possibility old hold storehouse only 1000 hands, conclude ten thousands of hands on day, at the same time, certain member may hold ten thousands of storehouse hands , but concludes hundreds of hands on day.

More important point is easy for this ranking to register futures trading only to deliver asset, have neglected America to manage field mixes already the present situation of camp. For example, the most of FCM futures manage company's business is single-minded, have no service besides futures and option, some mix field, had been underestimated simultaneously in the company of camp ranks apparently. Is calculating the time of ranking , mix already the company of camp for example" profit thorough group" Interactive Brokers, may a all-round account trade stock, futures, option, and foreign exchange. Exceed futures old hold the surplus fund needed by storehouse in have been marked to turn to bond account settlement, and do not report to CFTC. This makes this kind of customer who mixes the company of camp futures asset quilt underestimates seriously, go in if containing these rights and interests, pure futures manage business business will be squeezed backward surface.

The wind
Before 2006,
1, the UBS ranking of securities broker company is most former, customer total $ 14,901 million of rights and interests surpasses second 17%. This figure has contained UBS ABN Amro that just buies last year to combine the figure in futures business. In 2005 between at the same time, the customer total rights and interests of UBS are $ 6,785 millions, rank 5th position.
2, high victory company Goldman Sachs%26Co. Ranking is second, customer total $ 12,790 million of rights and interests, harvest long rate 20% increases 2.6% for 5 years in average in year. The figure of 2005 is $ 10,662 million, rank 1th. The quilt of 2006 years UBS buy and snatch the location of the very best. Name list shows that high victory has only the service of organization customer , has no affir of retail trade.
3.Citigroup Global Market Inc. Colored flag group global market company's ranking is 3th, customer
4, graceful financial Man Financial Inc. Last year, growth is proud , is promoted considerably by $ 5,133 m to $ 8,069 m, growing up rate 57%, ranking rises the more from the 9th position of last year to 4th. If compare graceful , it is going to the figure of 2005 years in 2000 , is from $ 2,080 m to $ 5,133 m , may see its historical harvest long rate in 20%.
5, beautiful forest Merrill Lynch Fenner%26Smith covers its professional settlement,
6, JP rubs root futures company, drop by third to 6th,
7, Caloyn finance has maintained the location of the 7th of last year, customer $ 6,245 million of rights and interests increases 15% in year. What is worth for one to mention is to pass the effort and preparation of two years, Caloyn is in February and futures company's joint venture, begin to extend the market of Chinese Mainland. When in advertising writing Xuan, the Caloyn company of Hong Kong claims to be is 3 global big futures manage company, the customer rights and interests besides their American homeland are $ 3,001 ms. Data is added together afterwards, the row trip of this firm is squeezed coincidentally into the former 4 global shells in this name list.
8 has maintained the 8th location similar to 2005 for the domestic American domestic customer rights and interests of the futures company of Fimat USA that futures circle knows well , have but been declining than 2005 2.4%. Fimat when the share on global market is greater, the customer rights and interests besides America are $ 23,366 millions, is the 4 times of homeland business $ 5,153 million is many. Form still shows that Fimat has no futures management account , has not also neted trade business , is organization customer service mainly , also has no affir of retail trade.
9, thunder graceful brother Lehman Brothers,
10, the bond growth of Bear Stearn of

The name of back known well by domestic investor still has 13 - to rub thoroughly this level advantage( last year is declining 7.4%) , 14-RJO( the growth of last year 23%), 18-ADM( the growth of last year 28%), 20-FCStone( the growth of last year 28%), 35-Alaron( the growth of last year 37%).

2006 in top 24th, only Fimat USA this domestic company no net last futures business, is before 5 years in, top 24th still has 5 manage company no net last futures business. Whether this respect drop behind with the customer rights and interests of this firm of last year drop relevant unite?

3 and who when
Duration of 56 years, when overall turn and average annual geometry to grow up to lead 15% of group expression outside, ranking roll still has some bright spots to be worth for us to pay attention to especially:

1, pure net goes up trade
With " profit thorough group ", Interactive Brokers is representative, the customer annual average growth rate in the 6 years of rights and interests reaches 82%. Do not consider preceding mention underestimate the influence of factor, curve is the increase of its customer rights and interests: ( geometry growth rate is statistics of more general banking industry means)

Rank the futures old money
2000 > 50$12million
2001 45$34million180%
2005 29 $204 million 57%( 4 years average)
2006 26$426million109%
The business pattern of this firm is to found pure net on trade passageway , reduces the platform research and development of promotion trade science and technology and the cost of people service considerably. Comparing globalization operation those manage company, such as Fimat and Calyon, this kind of company when the futures business besides America is yet to start stage.

It is had still that 2 maintains the company of the higher average increase speed

The former roll of 5 years goes up famous now not see have: Refco( No.7) is bought by graceful , ABN Amro( No.12) is bought by UBS , praiseworthy lucky investor serves company's Cargill Investor Services Co. In the 13th ranking ranking 17 of 2001 years of 2000 years, now, it is not listing.
5 years before return is not

4 in next 5 years,

Seeing a May 8 of Financial Times of " Financial Times " to quote the report that Japanese financial prime minister talks say that Japanese government has known that Japan can not rely on manufacturing completely , knows at last vigorously via the past recession of 10 some years that need to run after New York and London , occupy the important position of financial profession center , change the passive situation nibbled in the past with region by the developing countries such as South Korea and Hong Kong. On the contrary, do you watch China? Of more than 20 years high speed the finance of weakness and the processing industry of growth environment coexistence, the accumulation of this kind of wealth sees superficially is prosperous, actually, it is still fragile. Decision-making layer has realized that need to develop the finance with the relative name of national power to derive article market , write in it national development plan, but have no so strong sense of urgency of Japanese government yet, we are having to open passively.

Count through above comment, the

Trade science and technology. The popularity of Chinese internet just of more than 10 years, wide band links mutual also is in last few years matter. In other words, the advantage of the future still lies in science and technology. The more reach and automatic electronic platform, it is the more low to manage cost and the more powerful competitiveness and last the more high development speed to will bring.

Decision-making layer knowledge. A lot of things are to know decision to find a way , find a way to decide to take action , take action to decide success or failure. It is just the source of revolutionariness action from the breakthrough on knowledge. The perspective knowledges of decision-making layer has pretty important 10, nearly, may directly concern the success or failure of ups and downs of a profession. Here, the decision-making layer mentioned includes government decision-making layer, profession management decision-making layer, as well as enterprise decision-making layer.

Global platform. " futures regulation" have been strategic to put forward , may allow Chinese futures company to carry out outside a plate of futures to manage business, actual business spread out the time of pretty long needs. Choice most has research subject that develops potentiality and that global strategic cooperative partner will become the company of next times futures. Therefore certificate prison will be guided , the multinational alternating project under futures profession association promotion and assistance will become attractive point. Domestic futures manage the most of company's long-term depressions, lack capital and manpower, therefore the promotion role of profession association looks pretty important.

Option with foreign exchange. It is complex that option includes stock option and the calculate type of futures option and option pretty, however may with a view to accomplish automatic calculation with computer. Being devoted to trade science and technology research and development manage company, if be able to found fast automatic quotation platform, can win market share under super low trade cost. Still calculate trade platform with profit thorough group Interactive Brokers for regular, advanced stock option Equity Option , let this firm get the American stock option shares more than 20% as well as the trade volume of concluding global market 18.7% or the trade volume of the hand of 500 thousand every day in average.