1 Corinthians Chapters. «

Cor clearing Apple margin

All over the web, people are blaming today's more than 4% sell-off in Apple (NASDAQ:AAPL) on a clearing firm named COR Clearing raising its margin requirement for Apple positions from 30% to 60%. While scores of investors debate whether or not this is true, I think it is more productive to ask the questions, "Who does COR Clearing clear for?" and "Should I care about a margin-related sell-off in Apple?"

The first thing I did when I heard about a possible COR Clearing margin-related sell-off in Apple was to check who the majority of well-known brokers clear for. The website Online Broker Review (onlinebrokerrev.com) lists the clearing firms for the following brokers: E*Trade, eOption, Fidelity, Firstrade, Interactive Brokers, Just2Trade, OptionsHouse, optionsXpress, Merrill Edge, Schwab, Scottrade, ShareBuilder, SogoTrade, TD Ameritrade, TradeKing, Vanguard, Wells Fargo Advisors, and Zecco (merged with TradeKing).

According to Online Broker Review, not one of those brokers uses COR Clearing. COR Clearing did recently announce that it will acquire Apex Clearing Corp. (created by Penson Worldwide and PEAK6 Investments), which, according to Online Broker Review, clears for eOption, Firstrade, OptionsHouse, SogoTrade, TradeKing, and Zecco. But that is not scheduled to be completed until early 2013 and shouldn't have had an effect on today's news about COR Clearing.

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Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer THE STOCK EXCHANGE: The clearing House. London, antique print c1880
Home (Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer)
  • Caption below print: The clearing house
  • Condition: Good; suitable for framing. However, please note: Verso text quite apparent in margin; The image shown may have been taken from a different example of...
  • Size: 14.0 x 14.0cm, 5.5 x 5.5 inches (Small)
  • Type & Age: Year printed c1880. Antique wood engraved print
  • Verso: There are images and/or text printed on the reverse side of the picture which are likely to show through the page to some extent because the paper is quite...
Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer LONDON: Clearing House, Lombard St, antique print, 1847
Home (Shipping by airmail from UK: items normally reach US addresses within a few days but can take longer)
  • Caption below print: The Clearing-House, in Lombard-Street
  • Condition: Good; suitable for framing. Please check the scan for any blemishes prior to making your purchase.
  • Size: 14.5 x 23.5cm, 5.75 x 9.25 inches (Medium)
  • Type & Age: Year printed 1847. Antique wood engraved print
  • Verso: There are images and/or text printed on the reverse side of the picture. In some cases this may be visible on the picture itself (please check the scan prior...
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