-
MF Global customers facing loss on accounts
Around 30,000 accounts contain cash that remains frozen as liquidators struggle to locate hundreds of millions of dollars of missing money, and if the full amount is not found, it is possible that customers will have to take a share of the losses. Unpicking MF Global was yesterday still causing short-term difficulties in some parts of the commodities market, while investors said the realisation that their cash is not safe could have long-term consequences for relations with broker-dealers. MF Global collapsed last Monday after customers and trading partners lost confidence in the company, a "run on the bank" ... (full story)