PFGBEST announced yesterday that it is purchasing the customer assets of non-clearing futures commission merchant Alaron Trading Corporation.
This will further shrink the ranks of independent futures brokers, which had been thinning for several years due to industry consolidation.
We all knew it was a matter of time before all of the exchanges in the whole entire world began consolidating — which, of course, will one day lead to only two super exchanges — one in Europe and one in Chicago — that’s right, I said Chicago.
When the Chicago Mercantile Exchange’s (CME) merger with the Chicago Board of Trade (CBOT) became final, the warning signal for the “other” exchanges considering consolidation went up to ORANGE.
Now simply considering some type of strategic move is no longer acceptable—it’s time for action.
