MF Global Ltd., a leading broker of exchange traded futures and options, today announced that it has modified an exclusive clearing agreement with Man Investments, a subsidiary of MF Global's former parent and largest shareholder, Man Group plc. While Man Group remains committed, under the terms of the original agreement, to clear 90% of the listed futures and options transactions of certain managed funds through MF Global, the new arrangement will ultimately remove the need for MF Global to allocate up to $800 million of its existing liquidity. Under the original agreement established at the time of MF Global's spin-off and initial public offering in July 2007, MF Global had committed to provide clearing services for 90% of listed derivative transactions on an exclusive basis to certain independent fund entities managed by Man Investments. For OTC instruments, principally in foreign exchange (FX), MF Global had committed to provide a facility of up to $800 million to fund unrealized gains. Man Investments intends to identify new providers for forward FX services, while continuing on a non-exclusive basis to use MF Global to clear spot FX trades, which generally require funding support at substantially lower levels. MF Global will continue to provide segregation for any unrealized gains for spot FX positions as well as for a number of current forward FX transactions until such transactions settle. MF Global estimates that for the nine months ended December 31, 2007, foreign exchange and other OTC transactions cleared for Man Investments funds accounted for less than one percent of the company's pre-tax profit. Kevin Davis, CEO of MF Global, said, "This is a very positive development because it is an attractive way to redeploy a portion of our available liquidity for general corporate purposes, while continuing our excellent working relationship with Man Group." As previously announced, MF Global has $1.4 billion of undrawn, committed liquidity facilities. Any thoughts on this gentlemen??