Anyone pulling money out of MF Global?

Quote from steve0617:

I have just been formally informed after again asking about my wire placed today, that my entire account funds at MF Global are now frozen and cannot be released until some unforeseeable time in the future.

Fuck me.
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I think I speak for everyone reading this thread when I say that I'm truly sorry to hear this. Hang tough, you will recieve your money once the process plays out.
 
Quote from steve0617:

I have just been formally informed after again asking about my wire placed today, that my entire account funds at MF Global are now frozen and cannot be released until some unforeseeable time in the future.

Fuck me.
More...

I feel sorry for you. I too have funds stuck up but not too much. TBH I trade with a couple of brokers and I had NEVER thought MFGlobal was going to end up the weakest.

Lets make a MFGlobal Affected Customers thread now? and make a strategy for coordinated action?
 
Quote from steve0617:

I have just been formally informed after again asking about my wire placed today, that my entire account funds at MF Global are now frozen and cannot be released until some unforeseeable time in the future.
More...

You need to take a few deep breaths and sit tight. It is 90%+ likely you will get your money back in full but you will probably need to wait for a couple of weeks, maybe a month or so I'm guessing. Someone once gave me advice not to worry about things where you are not in control of events. Easier said than done, but I would give you the same advice right now. The next few weeks are going to be a nightmare for you, but there is no point stewing over the situation.

Probably a good time to do some serious backtesting and catch up on things you don't normally have time to do.
 
This is a serious fraud that will affect every SIPC insured broker. If clients are not made whole in an expedient time frame (24 - 48 hours) people will lose confidence and pull out.
 
Nobody lost any money with Refco futures trading accounts.

I expect that you will get most (if not all) of your money back as well, but just you will have an uncomfortable few weeks waiting.

I very much doubt that it will be 1-2 days. Two weeks best case scenario, I would say.
 
Quote from PocketChange:

This is a serious fraud that will affect every SIPC insured broker. If clients are not made whole in an expedient time frame (24 - 48 hours) people will lose confidence and pull out.
More...

No it won't. The "S" in SIPC is for "Securities". Futures brokers and futures clearing firms are not covered by the SIPC.
 
Nobody lost money with Refco apparently.
Well everyone lost money with Griffin.
The first comment doesn't give me much comfort.

Can anyone explain to me why MF are refusing to communicate with the firms that clear through them? Are they too busy shredding documents?
 
Another thread suggests that Don Miller has $3million worth frozen at MF Global because he did not withdraw in time.
 
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