Only if you don't like being paid in BTPS/SPGBs/Portugal... Just think of it, you could be a proud owner of some really juicy European govt bond collateral. Wouldn't that be nice?
I stopped clearing MF and now clear NewEdge. Looks like that might not have been, how shall I say this... optimum. If there were only more Chicago firms with LME seats and an ISDA agreement. I mean, it took the Chicago boys too long to clear ICE-LCH and ClearPort... The thing I liked about MF was that they knew how to correctly margin things like heat rate swaps. It is getting really difficult to find someone more competent than retail and who doesn't fancy themselves a ridiculously expensive prime brokerage. What's a sophisticated independent to do ?
Does that mean for their own account only or are customer a/c locked as well? Anyone tried withdrawing funds from their MF G a/c in recent days?
http://www.bloomberg.com/news/2011-...es-for-bankruptcy-protection-in-new-york.html MF Global Finance Files for Bankruptcy Protection in New York