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CRAIG v. REFCO, INC.

No. 86-1448.

816 F.2d 347 (1987)

William CRAIG, John Toolon, and Joan B. Weber, Plaintiffs-Appellants, v. REFCO, INC., Oppenheimer Rouse Futures, Inc., Gelderman, Inc., Merrill Lynch Futures, Inc., and Clayton Brokerage Company of St. Louis, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided April 15, 1987.

Rehearing and Rehearing Denied May 15, 1987.

Attorney(s) appearing for the Case

Marshall Patner, Chicago, Ill., for plaintiffs-appellants.

Susan R. Lichtenstein, Schiff, Hardin & Waite, Chicago, Ill., for defendants-appellees.

Before CUMMINGS and FLAUM, Circuit Judges, and ESCHBACH, Senior Circuit Judge.

Rehearing and Rehearing En Banc Denied May 15, 1987.

PER CURIAM.

Investors in commodities futures contracts must keep "margin" funds on deposit with their broker, under regulations promulgated by the Commodities Futures Trading Commission pursuant to the Commodity Exchange Act. The margin serves as a partial guarantee that the investor will meet his obligations under the futures contract. Commission regulations permit the broker to invest the margin funds...

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