Wednesday, 22 October 2014
Last updated 9 hours ago
Oct 4 2013 | 10:36am ET
The MF Global Holdings liquidator hopes to make the failed futures brokerage's U.S. customers whole by the end of the year, more than two years after its collapse.
James Giddens yesterday sought a federal bankruptcy judge's approval for a plan to pay customers of the brokerage with money currently allocated to unsecured creditors. Should permission be granted, it would "allow every one of the more than 26,000 former customers of MFGI with allowed net equity claims to be paid in full before the end of the calendar year," Giddens' lawyers said in a court filing.
About $1.6 billion disappeared from MF Global's customer accounts in the days prior to its October 2011 implosion. Customers who traded on U.S. exchanges have already received 98% of their money back, and customers trading on foreign exchanges 74%.
Objections to the reallocation, should it be approved, will be permitted until Oct. 16.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...