Tuesday, January 10, 2017

$2 million Interactive Brokers VXX ETN Award

In January 2017, a FINRA arbitration panel in Richmond, VA ordered Interactive Brokers to pay at least $1,930,000 in compensatory damages, debt cancellation and attorney's fees. You can read the award here. Dr. McCann testified on liability - specifically on whether VXX ETNs and options on VXX ETNs were eligible for portfolio margin - and damages.

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