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ILQ Exits US Futures Market, Transfers Accounts to Advantage Futures

When in the end of October 2013 we speculated about the next broker to exit the US Forex retail market, we had hardly expected that our suggestion of Institutional Liquidity LLC would turned out to be right: but it did. A press release out on Friday said that ILQ was transferring its US futures accounts to rival broker Advantage Futures. The transaction will officially happen on April 16, 2014, with clients of ILQ promised to have no issues due to the transfer.

 

This is the second major reshuffle of the US realm of futures commission merchants (FCMs) after the exit of Alpari US from the US retail Forex market in September 2013. Perhaps you recall that the broker chose to stick to institutional trading and transferred its retail accounts to FXCM and FXDD. 

 

By the way, there have been speculation about something big going on around ILQ's corporate structure over the past months. The least to say, we were rather stunned when the data for the retail assets under management of US FCMs for January 2014 showed that ILQ had none such assets. Back then the data seemed so weird that we even supposed that the US regulators had made a mistake when compiling the report. Well, this will serve us a good lesson – never doubt the rightfulness of a US watchdog, especially when it comes to the Commodity Futures Trading Commission!

 

Of course, you must be interested in the rationale for ILQ's move. It seems that it has nothing to do with stiff regulatory requirements, as this broker had never ever had problems complying with any demands, even with the rigid capital demands in the United States. Moreover, the company prefers the milder investment climate in Australia, where it set up a business in December 2012. By the way, it has been refocusing its operations to the Land Down Under ever since.

 

Advantage and ILQ will continue to co-operate: the transfer of ILQ's accounts is poised to get the Chicago-based firm some $45 million of segregated funds. Now, that's called a piece of news.

 
TAGS: institutional liquidity llc  ilq  us forex broker  us forex market  futures trading  advantage futures  fcm  rfed  ilq exit  forex trading  futures trading  australia 
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