MF Traders Blocked by CME, Intercontinental Has Clients Fleeing
This article is for subscribers only.
MF Global Holdings Ltd.’s bankruptcy is sending some of the firm’s customers rushing for new clearing brokers after CME Group Inc. and Intercontinental Exchange Inc. blocked them from new business on their futures markets.
The holding company for the futures brokerage and broker-dealer run by former New Jersey governor and Goldman Sachs Group Inc. co-chairman Jon Corzine sought court protection today, less than a week after reporting a record quarterly loss and disclosing a $6.3 billion wager on European sovereign debt. The firm was also suspended from conducting business with the New York Federal Reserve as a primary dealer.