If you clear through MF, you just might.
A truly awful day Chuck.
This situation is bad for all the market participants, whether you clear through MF or not.
What a nightmare.
NOX told me that his account was frozen and if he'd left the floor he would have been barred from re-entering.
Yeah he was out today. Floor population is down by 25% at least.
Some guys have transferred their clearing accounts already to other firms.
But who knows when they will be able to transfer their margin money .
Which means they will essentially be double margin-ed until this is cleared up.
And who knows
if that will happen given the most recent admissions by MF.
It just keeps getting uglier.