CME In Deal To Hasten Repayment Of MF Global Clients

Nov 7 2013 | 10:54am ET

The CME Group is doing its part to ensure that MF Global Holdings' customers are made whole by the end of the year.

The firm, one of MF Global's regulators, reached a deal with the collapsed futures brokerage's trustee, awarding it a $29 million claim, half of which it will pay to MF Global customers. The deal comes a day after the trustee, James Giddens, won court approval to return 100% of customer assets by the end of the year, just over two years after MF Global filed for bankruptcy after $1.6 billion in customer money went missing.

CME's agreement resolves any claims with regard to MF Global.

"Though CME Group fulfilled all of its responsibilities as a self-regulatory organization, these agreements provide a quicker resolution for our customers—giving them more money back sooner, rather than working through prolonged litigation," CME President Terry Duffy said yesterday.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...