CFTC FCM Data – September 2013

Interesting results from the latest available CFTC report on financial data for U.S. FCMs. Source is here: CFTC Financial Data for FCMs

The same data sorted by U.S. Customer Seg required is posted here. (Downloads as an Excel spreadsheet.)

The data shows that now, the first five FCMs have just barely 50% of the U.S. Customer Seg. In August that figure was just under 50%, so there is small growth at the top of the list in terms of percentages. But the total U.S. Seg balances are down more than $4 billion, month over month. There was $146,879,480,741 in Customer Seg in August, there was just $142,493,827,451 reported at the end of September.

Also interesting to note that the 3rd and 4th biggest FCMs as measured by U.S. Customer Seg have swapped places: in August, Newedge was third, Deutsche Bank was fourth, now DB is third and Newedge is fourth.

The top 5 in Customer Seg – Goldman, JP Morgan, DB, Newedge and Morgan Stanley are the same as they were in August. The next five in September were Merrill Lynch, UBS, Credit Suisse, Barclays and Citi. In August, UBS was slightly larger than Merrill.

69 FCMs processed U.S. Customer Seg in September. Four of them processed more than $10 billion. 21 FCMs processed more than $1 billion in Customer Segregated Funds.

For those interested in such things, here is the same data sorted by Part 30.7, or Secured, balances. (Also downloads as an Excel spreadsheet.)

Goldman was the largest FCM measured by Customer Seg. It is also the largest measured by 30.7 Secured. Looking at the 30.7 side, Goldman has twice as much 30.7 required at the second-place FCM, UBS. They also have twice as Customer Seg as UBS.

Interesting, Secured balances are even more concentrated at the top than Customer Seg is. Far more concentrated, in fact. 65% of the Secured balances are processed at just the top-5 FCMs. 93% of the Secured money is processed at the top-10 FCMs. 55 FCMs process Secured balances. Only eight of them have Secured balances of more than $1 billion.

Do you see anything interesting in all these figures? Drop a comment in below, if you do. 

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