With the CFTC shut down along with much of the rest of the U.S. government, I figured this is as good a time as any to post the most recent CFTC FCM Financial Data report from their website. I downloaded the Excel file (from here) and sorted it by Customer Seg Required (Column J).
The by-now unsurprising results: more than 50% of all U.S. Customer Seg is in just five firms (Goldman, JP Morgan, Newedge, Deutsche Bank and UBS). The following five firms (Morgan Stanley, Merrill Lynch, Credit Suisse, Barclays and Citi) add another 25%. So 75% of Customer Seg is housed at just the top-10 FCMs. There are 69 FCMs that booked Customer Seg in this reporting period (July 2013). So 59 firms divide up 25% of the Customer Seg while 10 firms divide up 75%.
I’ll leave it to wiser folks than me to decide what this says about the health of the U.S. futures industry.
Drop in a comment: what do these figures tell you about the U.S. futures industry?