- This is not another Refco. This one is very different. Not a bankruptcy story.
- Client’s funds are in separated bank account. The amount is sufficient to cover all client’s withdrawal request, but the NFA wants to see available cash in the amount that’s exceeding all company’s liabilities before approving distributions.
- Executives of FXLQ are said to be doing their best to pull in all of their funds located off shore. Several incoming wire in multi million dollars were done, and still more to come to meet NFA’s requirement.
- Obviously, NFA has a certain agenda. The request to pull in all funds to US-banks was on Monday, and the MRA took place the day after (Tuesday). Everybody knows that repatriating millions of dollars especially if a large sum of them are in the form of bonds is not a one-day procedure.
Still, all we can do is just wait for things to unfold and observe any news and rumors. lol.
Anybody wants some beers?