New BD Formations & BD Withdrawal Summary 15 July 2013, as of 30 June
compiled by DAVID ALSUP
June: 9 New Formations… and 15* Withdrawals. (The three-‐year average is now 12.3 New Formations and 24.5↓* Closures per month.) NOTE: New Private Placement Formations are now net Positive! 9 New Firms were admitted. •
FIVE Firms admitted will trade equities. TWO firms admitted are Private Placement Firms.
• • •
ONE firm is a Mutual Fund Sponsor. ONE firm is "Other"
•
• EIGHT firms trading EQUITIES closed. (Net loss of three equities firms) • ONE Institutional equities firm closed. • FOUR Private Placement firms also went out of business. (Net LOSS of TWO Private Placement firms) • ELEVEN firms had less than 6 reps. • ONE firm was involved in a CONSOLIDATION.
(ONE is a Real Estate Issuer)
12 10 8 6 4 2 0
Pvt Placements Mut F, Variables Other
11
6
10
Apr May Jun
10
11
2
12
13
8
11
11
9
6
11
9
EquiRes
Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May June
This 15 month chart shows the types of firms admitted.
12 Mo Total of New Firms:
113
12 Mo Total Shuttered:
264
firms↓
firms↓
The ratio of NEW formations vs. BDW's is now 42%, and the average net loss is about firms↓ 13 firms per month.
12 Mo Net Loss:
151
2012 127 New firms vs: 304 Withdrawals Net Loss: 177. 2011 173 New firms vs: 319 Withdrawals. Net loss: 146. 2010: 177 New firms vs: 325 Withdrawals. Net Loss: 148. (36 month total is 887 withdrawals) NOTE: There are now about 2100 firms currently with Clearing Arrangements. (vs.3029 in 2006.) 40 30 20 10 0
EquiRes Clearing Mut F, Variables
23
25
19
24
14
19
29
33
21
26
32
20
16
15
15
Other Pvt Placement
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May June
This 15 Month BDW Chart shows the types of firms that are closing.
There are 4315 FINRA Member firm CRD Numbers as of June 30, 2013. (Note: There are some bankrupt firms still carried in CRD, such as Lehman Bros, & MF Global.) The above data has been sourced from regulatory agencies publications' and statistics, along with some independent third parties. While it is believed to be reliable there can be no guarantee of the accuracy of the data. The numbers have been cross-checked for accuracy, and they should be within plus/minus two percent. For example, there are as many as 10 firms NOT included in these statistics and NOT reported that filed for a BDW prior to March, 2013. David Alsup 949-468-0111 david@fishbowlstrategies.com
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