cmc in US closing down

Here is what they have been sending to clients.

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Dear Valued Customer,

CMC Markets regrets to inform you that it has decided to wind down its U.S. operations . This action is intended to be effective on or about September 30, 2008.

In order to facilitate a smooth transition for our clients, CMC's Client Relations Department will be contacting you shortly regarding the account closing process. However, in the meantime, you may continue opening positions on the Marketmaker platform until August 22, 2008, 5:00 pm (EST). After that date, you will no longer be able to open any new positions and will be required to close any remaining positions no later than the close of business on September 30, 2008.

CMC Markets hopes you have enjoyed your trading experience. We appreciate your cooperation during the ensuing account closing process and apologize for any inconvenience this may have caused.

If you should have any questions and/or concerns, please contact the CMC Client Relations Department, toll free, at 212-644-4220.

Risk Warning
Off-Exchange Foreign Currency trading carries a high degree of risk and may result in serious financial loss. Foreign Currency trading is not suitable for everyone. CMC Markets is remunerated for its services from the spread between the bid and ask prices. In situations where third parties introduce customers to CMC Markets commissions may be charged or compensation provided through the bid and ask spread.

CMC Markets (US) LLC is registered as a Futures Commission Merchant with the Commodity Futures Trading Commission and is a member of the National Futures Association. Our NFA Membership number is 0356817. You can view our registration status and history, as well as that of our registered representatives by visiting www.nfa.futures.org/basicnet and searching for CMC Markets.

This publication is intended to be used for information purposes only and does not constitute investment advice.

Offices: London - New York - Sydney - Beijing - Hong Kong - Frankfurt - Toronto

Head Office: CMC Markets UK Plc 66 Prescot Street London E1 8HG United Kingdom

Registered in England: 02448409 / 02589529 Regulated: UK - FSA; USA - NFA; Australia - ASIC; China - CBRC; Hong Kong - SFC; Germany - BAFIN; Canada - OSC

Disclaimer:
All information contained within this email, and any attachments, are subject to CMC Markets standard Terms and Conditions - which can be found at: http://www.cmcmarkets.com

This email and any attachments, which may only be used by the intended recipients, are confidential and may contain proprietary information, some or all of which may be legally privileged. Unauthorised disclosure, copying or distribution of this mail or its contents is strictly prohibited. Should you have received this email in error please immediately return it to the sender or notify the company at [color=#0000ff][email protected][/color], then delete the email and any attachments from your system.

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I assumed that I'd get a bigger response ,but I guess CMC doesn't have any clients.

Probably you're right. May be they have very small business in US and they decide to close down in the lite of capital increasing.
The best way to get an accurate info is to call them and ask.

is there any benefits from cmc us ???

It's not the last one to do that. This folks is a direct result of the new CFTC regs.

When Sarbanes-Oxley was implemented, many publicly traded companies privatized themselves. Others that where planning an IPO did it on other stock exchanges around the world.

The U.S. government can regulate until they are blue in the face but they can't enforce laws outside their borders.

They can't regulate outside there borders but they sure do try!

I got a phone call from someone at Velocity who basically told me he knew I was a CMC US customer and wanted to know if I would open an account with them. He also said he was a former CMC employee.

I wonder if CMC knows their ex-employees took customer lists with them which is propably illegal. I wonder what other information they have? My social security number and credit card number? Scary!

Its a valid question and would be concerned whether or not said practices breach their Privacy Policy. If you are truly concerned, you may want to contact CMC in London.