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MF Global did not separate customer accounts: CME | |
Anonymous Coward User ID: 3633456 United States 11/01/2011 11:20 AM Report Abusive Post Report Copyright Violation | "CME has determined MF Global is not in compliance with Commodity Futures Trading Commission and CME customer segregation requirements," CME Group Inc Chief Executive Craig Donohue said. Mixing customer funds with company money violates a key tenet of futures brokerage. Donohue's statement on Tuesday raises questions about statements from CME and other exchanges as recently as Friday that MF Global was a clearing member "in good standing." "It is always the case that customers have the risk of other customer losses in the customer segregation pool," Donohue told investors on a conference call. "There's always the risk as well that customer funds are not properly protected." I'm loving the economic DOOM |
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