Saturday, 20 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.