Thursday, November 20, 2008

Mother of All Disclaimers

I opened an account with a futures brokerage recently. I received the following email from them. I guess they wanted to make sure my email didn't bounce. It shattered my previous record to signal-to-disclaimer ratio.
Subject: FW: Email test
To: undisclosed-recipients:;

No need to reply .
DISCLAIMER: [redacted] is a US registered futures commission merchant and a member of the NFA and is a US registered broker-dealer and a member of the CBOE, FINRA and SIPC. Except as otherwise indicated, references to [redacted] also refer to all affiliates of [redacted] (collectively "[redacted]"). [redacted] does not warrant the correctness of any information herein or the appropriateness of any transaction. The contents of this electronic communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to sell or a solicitation to buy any futures contract, option, security, or derivative including foreign exchange. The information is intended solely for the personal and confidential use of the recipient of this electronic communication. If you are not the intended recipient, you are hereby notified that any use, dissemination, distribution or copying of this communication is strictly prohibited and you are requested to return this message to the sender immediately and delete all copies from your system. All electronic communication may be reviewed by authorized personnel and may be provided to regulatory authorities or others with a legal right to access such information. At various times, [redacted] or its affiliates may have positions in and effect transactions in securities or other financial instruments referred to herein. Opinions expressed herein are statements only of the date indicated and are not given or endorsed by [redacted] unless otherwise indicated by an authorized representative. Due to the electronic nature of electronic communication, there is a risk that the information contained in this message has been modified. Consequently, [redacted] cannot guaranty that messages or attachments are virus free, do not contain malicious code or are compatible with your electronic systems and [redacted] does not accept liability in respect of viruses, malicious code or any related problems that you may experience. Trading in futures, securities, options or other derivatives, and OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Please contact your account representative for more information on these risks. Past performance of actual trades or strategies cited herein is not necessarily indicative of future performance. Privacy policy available upon request.
Note the self-referential nature of electronic communication. Emphasis mine.

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