MF Global announcement

Quote from atticus:
Should I stop clearing MFG?
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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?
 
Quote from atticus:

Should I stop clearing MFG? My statements are now being written in pencil. Hmmm.
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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 ?
 
Quote from trading spaces:

Nymex no longer letting mfg trade, ice liquadation only. There will not be a lot left for ib to buy.
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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?
 
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