MF Global

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kobza

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Hello traders,
I have an acount at MF GLobal, and get freezed since Monday 1st November.

For this Thursday, MF Global didn't issue, any daily statement, no answering phones or emails...

I would like to share experience with other traders.

rgds
kob
 
I also have an account at MF global, and I'm freezed too.

I'm still getting the daily statements.

wait for updates...

Regards,
Ofer
 
I'm from Israel, my account located in US.
where is your account located at?
 
I am a mf global uk customer. KPMG closed apparently all my eurex positions and I got no statement....
On the cme, I order yersterday to transfer my positions to an other broker, but it is impossible to check if it has been done or not.
Is anyone in the same situation?
 
I'm a MFG client with no open position on the 31 October. but I don t receive anymore any statement.

This friday, I read that they fire all the MFG employees...

Is it getting worse or better?
kob
 
kobza said:
I'm a MFG client with no open position on the 31 October. but I don t receive anymore any statement.

This friday, I read that they fire all the MFG employees...

Is it getting worse or better?
kob
Click to expand...



I also have funds lodged with MF Global UK. They are now in Administration - KPMG are special Administrators based in London. Fortunately I had no open positions. It is my understanding that personal client funds are protected under CASS Rules however whilst the administrators have stated that their priority is to return client monies this cannot be done until all open positions have been closed.This always assumes that they are in possession of these funds so to do. I believe that MF Global had used these clear funds which are most likely in need of recovery from third parties.

I have written requesting immediate transfer of my funds to my account allowing them 24 hours to complete failing that they will be accruing daily interest which will be claimed in compensation.....

We will wait and see but I think until they have added up there overall cash position which will probably take weeks I cannot see how they can pay anyone.

What happens when they establish a shortfall ?

I can only assume they would be insured to cover clients monies - ??? Small print ????

Will keep in touch

Cookie
 
I ordered last thursday to transfer my cme position from mf global to an other broker. According to mf global, because I am a non segregated customer, it has not been done yet.....
 
hello Cookie, Do u know if the staff at MF UK is being sacked?

this Monday 14th November, m acct holder at MF Global UK, didn't answwer

rgds
kob


cookie said:
I also have funds lodged with MF Global UK. They are now in Administration - KPMG are special Administrators based in London. Fortunately I had no open positions. It is my understanding that personal client funds are protected under CASS Rules however whilst the administrators have stated that their priority is to return client monies this cannot be done until all open positions have been closed.This always assumes that they are in possession of these funds so to do. I believe that MF Global had used these clear funds which are most likely in need of recovery from third parties.

I have written requesting immediate transfer of my funds to my account allowing them 24 hours to complete failing that they will be accruing daily interest which will be claimed in compensation.....

We will wait and see but I think until they have added up there overall cash position which will probably take weeks I cannot see how they can pay anyone.

What happens when they establish a shortfall ?

I can only assume they would be insured to cover clients monies - ??? Small print ????

Will keep in touch

Cookie
Click to expand...
 
moumou01 said:
I am a mf global uk customer. KPMG closed apparently all my eurex positions and I got no statement....
On the cme, I order yersterday to transfer my positions to an other broker, but it is impossible to check if it has been done or not.
Is anyone in the same situation?
Click to expand...

Hi,

I was MF GLobal UK customer for 3 yrs. Products: Index/Equity Options and CFDs.

Have you had a statement?

Have you transferred to another broker?
 
kobza said:
I'm from Israel, my account located in UK.
where in israel?
Click to expand...

Kobza,

I have had an account with MFG in the UK for three yrs. Products: Index/equity options.CFDS - UK.

What did you trade?

Have you received statement or monies?

AfternoonT
 
This is TERRIBLE.

First there was a battle for traders and investors to make money in the market. Now they have an additional worry. "Their f*cking brokers!"

There are many others like this.

The right strategy should be to just spread the funds across multiple. This is soo pathetic that people who are suppose to take care of our funds are the thieves.

I wonder if Goldman Sachs or other investment banks are doing the same.
 
There are thieves wherever you look in this industry. The whole thing is built on dishonesty and an attitude of take as much as you can and hope you get away with it.
 
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