Categories

MF Global trustee liquidates broker’s CME Group memberships

The trustee liquidating MF Global has sold a collection of the bankrupt broker’s CME Group memberships for amounts below recent selling prices, according to a list of transactions published by the exchange on Monday. Eighteen months after MF Global collapsed, Trustee James Giddens last week sold a variety of memberships owned by the firm that bestow different trading rights on the holders. The firm, which was among the top brokers at CME Group’s exchanges, made a $6.3 billion bet on European sovereign debt and went bankrupt after dipping into customer accounts to try to meet margin calls, in violation of industry rules. More on Reuters here.

Share This Page:
  • email
  • Facebook
  • Twitter
  • LinkedIn