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Alternative Market Briefing

AlphaMetrix source expresses optimism firm will meet NFA deadline, pay CTA fees; January conference still on track

Wednesday, October 30, 2013

Mark Melin, Opalesque Futures Intelligence, Chicago:

As a public deadline with the National Futures Association (NFA) approaches that could essentially end the firm’s business, a source inside AlphaMetrix expressed optimism the January, 2014 conference in Miami Beach will take place. Further, this source considered it likely the firm will pay all outstanding fees owed to managed futures CTAs before the November 1 deadline imposed by an NFA enforcement action A formal announcement is expected within days.

If AlphaMetrix does not pay fees to managed futures commodity trading advisors (CTAs) the NFA would prohibit the firm from placing trades for pools it operates, except for liquidating trades, and further would ban it from disbursing or transferring any funds from any customer or pool account without NFA prior approval. With this crippling event as a backdrop, sources indicate that firm CEO and founder Aleks Kins has been engaged in a juggling act of negotiations with multiple parties, having the goal to emerge from the troubles a different but nonetheless viable entity. Sources say the structure of the debt load and negotiations to keep creditors comfortable with collateral are key issues.

At the upcoming 2014 Miami Beach conference attendees might expect some of the lavish entertainment to be toned down; as well, speculation is the list of complementary accommodations for many ins......................

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