CME Investigating MF Global

The New York Times (1 Nov 11)

The investigation into hundreds of millions of dollars in missing money at MF Global has widened, as the CME Group confirmed on Tuesday that the brokerage firm failed to keep customer money separate from company money.

The serious blunder by MF Global, a commodities powerhouse run by Jon S. Corzine, the former New Jersey governor, violated crucial Wall Street regulations, CME’s chief executive said.

CME, the giant exchange where MF Global did business until Monday, said it was investigating the missing money, joining federal regulators like the Commodity Futures Trading Commission. Using special permission from regulators, CME was planning to take the unusual step of transferring MF Global’s customer positions without returning all the collateral the customers originally posted, according to a person briefed on the matter.

Continue reading the article…

Related Reading

JPMorgan Seeks Lien on All MF Global Assets
Bloomberg (1 Nov 11)

SIPA Liquidation of MF Global, Inc.
U.S. Securities and Exchange Commission

Sky News Reports Israel Preparing For Preemptive Strike On Iran
Zero Hedge (2 Nov 11)

Bizzaro & Uncomprehendable – Bankruptcy Judge Gives MF Global 8 Million to Keep Going Until Nov. 14th! Whose Money Did he Give Them?
Sherrie Questioning All (1 Nov 11)

MF Global Holdings Ltd (MF)
Revised Proxy Filed on 06/15/2010

MF Global’s Collapse Draws FBI Interest
The Wall Street Journal (2 Nov 11)

Someone Is Going To Jail For This: MF Global Caught Stealing Hundreds Of Millions From Customers?
Zero Hedge (31 Oct 11)