Any MF Global foreign currency futures customers here?

Discussion in 'Hook Up' started by Ash1972, Dec 25, 2011.

  1. Ash1972


    Please PM me if you had any (significant or otherwise) non USD cash deposits in a futures account at MF Global.

    Although foreign futures cash is regulated slightly differently from USD it is still segregated customer money that if ultimately found to be missing will form part of MFGI's total missing funds. Any missing funds will have to be shared pro rata among ALL customers.

    The next logical move in the bankruptcy case needs to be to true up foreign futures customers to 72% before any further distributions are made to USD customers.

    I happened to have about three quarters of my cash in non USD currencies.
  2. Ash1972


    If USD customers are made up to 100% before non USD customers get anything, there will need to be clawbacks if the foreign cash ends up being irrecoverable. Basically all customers must share in any shortfall on a pro rata basis, regardless of the currency.