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RCG Volume Rises 83 Percent in Second Quarter
Jul 08, 2008 (10:07 AM EDT)
CHICAGO, July 8 /PRNewswire/ -- Rosenthal Collins Group (RCG), a leading independent futures clearing firm, today announced that as of June 30, the firm reported its fourth consecutive quarter of record volume. RCG also established a new record in client equity in the second quarter, with $1.6 billion, more than double the level from the second quarter of 2007.
RCG volume in the second quarter of 2008 totaled a record 38.1 million futures and options on futures contracts, an 83 percent increase over volume of 20.8 million contracts in the second quarter of 2007 and an 8 percent increase over volume of 35.3 million contracts in the first quarter of 2008. Year-to-date volume through June 30 of 73.4 million contracts is 86 percent higher than the first half of last year.
Client equity of $1.6 billion in the second quarter exceeds by 127 percent the $721.7 million in the second quarter of last year and surpasses the $1.2 billion in the first quarter of 2008 by 34 percent.
Said Scott Gordon, RCG Chairman and Chief Executive Officer: "We've seen a substantial increase in client equity, particularly from new commercial and institutional business. Our expanded global product offering and robust trading technology have attracted new business as well as fortified relationships with existing clients."
Said Maureen Downs, RCG President: "We've enjoyed significant market share increases in the energy, agriculture and interest rate sectors, in addition to substantial volume increases. We are pleased to work with our clients to customize strategies that address their long-term and short-term risk management, trading and asset allocation needs."
With more than 80 years of experience in the futures industry, Rosenthal Collins Group is one of the world's leading regulated Futures Commission Merchants (FCMs) offering trading execution, clearing, brokerage, foreign exchange, managed futures programs and a full range of electronic trading services to institutional, commercial, professional and retail customers around the globe. RCG holds clearing memberships on all principal U.S. futures exchanges and has access to world futures markets through a network of correspondent relationships. With over 25,000 active accounts and more than 150 correspondent brokerage relationships, RCG cleared more than 88 million contracts in 2007 and more than 73 million contracts in the first half of 2008. Further information about Rosenthal Collins Group can be found at www.RCGdirect.com .
CONTACT: Ellen G. Resnick, Crystal Clear Communications, +1-773-929-9292, eresnick@crystalclearPR.comor +1-312-399-9295 (cell),
Web site: http://www.RCGdirect.com//