Anyone pulling money out of MF Global?

I never liked Mother Fuc**** Global and I am incredibly thankful on this Thanksgiving Day I did not have any business with them.

I have three separate accts cleared through 3 FCM's - about 10 days ago I pulled 2/3rds of my money from every acct - I don't trust any of the FCM's at this point.

I don't trust CME either - high tech theft is going on these days.
 
Quote from Mvector:

I never liked Mother Fuc**** Global and I am incredibly thankful on this Thanksgiving Day I did not have any business with them.

I have three separate accts cleared through 3 FCM's - about 10 days ago I pulled 2/3rds of my money from every acct - I don't trust any of the FCM's at this point.

I don't trust CME either - high tech theft is going on these days.
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I really never liked MF either. Very deceptive websites and fee schedules. Just pure old school thinking.

I am continually amazed how many brokers still operate like the internet has not changed EVERYTHING.

The fallout from MF Global will perhaps wake people up to that fact in the months and years to come.

IBKR is the total opposite and has been a true pioneer in its disclosure practices and transparency.
 
Quote from Cdntrader:

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IBKR is the total opposite and has been a true pioneer in its disclosure practices and transparency. [/B]
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They ALMOST stepped in the dung heap that was MFG, and lost a good deal of money as it is.

Very hard to keep from getting burned when there's fires all around.
 
Quote from Cdntrader:

The fallout from MF Global will perhaps wake people up to that fact in the months and years to come
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MF Global have been operating since the mid 1970s, they were not bad before they hire Jon Corzine as a CEO, he started buying bad debt since day one and screwed the company in less than 20 months! he was hired in April 2010.
Its always worth remembering how bad management can destroy otherwise solid companies.
 
I don't know how MF customers are fairing but 60% of my flat (cash) acct landed at RJO on Thanksgiving Day. I wonder how long before the balance (88 to 100) shows up? I hope others here have good new to report.
 
Quote from FreeMarketRider:

I don't know how MF customers are fairing but 60% of my flat (cash) acct landed at RJO on Thanksgiving Day. I wonder how long before the balance (88 to 100) shows up? I hope others here have good new to report.
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How did you find out? How were you notified? Did you already have an account at RJO?

Well that's reassuring that someone has got transfered, now to figure out what happened to my account, emailed CME group, we'll see what (if) I get a reply.

Oh yeah, NY Times reported about $200 million in customer money that vanished from MF Global is believed to have surfaced at JPMorgan Chase in Britain.

http://dealbook.nytimes.com/2011/11/28/money-found-in-britain-may-belong-to-mf-global/

Makes me wonder about that initial report of 600 million at the onset.
 
I sure love how their notification process, just for grins, I checked at RJObrian, used my account number with the appropiate prefex, lo and behold, there I am, 60% of the funds.
 
I was told my account went to RJO some time ago. The RJO site had some generic text about account numbers, but I could never set anything up against it because there was no funds in place. I got a "Welcome to RJO" e-mail at ~ 9:20 PM 11/25 and an account equity run statement at 11:40 PM. Funding was at 60%. There was a Journal Entry in the initial statement which said, "MF_CASE_60PERCENT". The funds are on deposit but will not be actionable until 12/2 per the original e-mail. I suspect that this will be an ongoing process for all accounts that went over to RJO. RJO only got a subset of all MF Global accounts.
 
Ok, so the only people who at this point have not been made up to 60% are those who were not flat as of Oct 31.

Actually, those were the majority..

Do we have a clear idea of when everyone's going to be at 60% of all assets?
 
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