A case perhaps for having the Prop trading side as a completely separate entity?
FCM & Brokerage business could be restricted as to what capital could be invested in.
MF Global announcement
- Thread starter 1nibbler
- Start date
A case perhaps for having the Prop trading side as a completely separate entity?
FCM & Brokerage business could be restricted as to what capital could be invested in.
http://www.americanbanker.com/bankthink/cozy-ties-mf-global-downgrade-1043623-1.html
"Following his arrival, Corzine âincreased the firmâs risk and used its own money to trade, including investments in European sovereign debt that have tumbled in value.â
More brilliant timing:
Richard Moore Joins MF Global as Regional CEO and Managing Director of Europe
Fri Mar 4, 2011 3:00am EST
Richard Moore Joins MF Global as Regional CEO and Managing Director of Europe
MF Global Holdings Ltd. (NYSE: MF), a broker-dealer providing trading and hedging solutions, today announced that Richard Moore has been appointed as regional CEO and managing director of Europe.
Mr. Moore will assume the role with effect from 1 April, 2011 and will be responsible for developing the firmâs pan-European growth strategy as well as for overall business activities in the region. Mr. Moore will be a member of the global management committee and European Board of Directors.
MF Global Discloses Employment Inducement Awards to Richard Moore
NEW YORK, May 20, 2011 -- MF Global Holdings Ltd. (NYSE: MF), a broker-dealer providing trading and hedging solutions, today disclosed it has granted and priced an inducement stock option award to Richard Moore, managing director of Europe, in accordance
The inducement award granted to Mr. Moore is a stock option to purchase 1.0 million shares of MF Global common stock at an exercise price per share of $7.45. One third of the options will vest on each anniversary of the grant date, with all the options becoming fully vested on the third anniversary of the grant date. Once vested, the option will generally remain exercisable for the full seven-year term. In the event Mr. Moore is terminated "without cause," he shall be permitted to exercise the portion of his stock option that had already vested as of the date of his termination for one year after his termination date.
This announcement is made pursuant to the Corporate Governance Standards of NYSE Rule 303A.08.
"Following his arrival, Corzine âincreased the firmâs risk and used its own money to trade, including investments in European sovereign debt that have tumbled in value.â
More brilliant timing:
Richard Moore Joins MF Global as Regional CEO and Managing Director of Europe
Fri Mar 4, 2011 3:00am EST
Richard Moore Joins MF Global as Regional CEO and Managing Director of Europe
MF Global Holdings Ltd. (NYSE: MF), a broker-dealer providing trading and hedging solutions, today announced that Richard Moore has been appointed as regional CEO and managing director of Europe.
Mr. Moore will assume the role with effect from 1 April, 2011 and will be responsible for developing the firmâs pan-European growth strategy as well as for overall business activities in the region. Mr. Moore will be a member of the global management committee and European Board of Directors.
MF Global Discloses Employment Inducement Awards to Richard Moore
NEW YORK, May 20, 2011 -- MF Global Holdings Ltd. (NYSE: MF), a broker-dealer providing trading and hedging solutions, today disclosed it has granted and priced an inducement stock option award to Richard Moore, managing director of Europe, in accordance
The inducement award granted to Mr. Moore is a stock option to purchase 1.0 million shares of MF Global common stock at an exercise price per share of $7.45. One third of the options will vest on each anniversary of the grant date, with all the options becoming fully vested on the third anniversary of the grant date. Once vested, the option will generally remain exercisable for the full seven-year term. In the event Mr. Moore is terminated "without cause," he shall be permitted to exercise the portion of his stock option that had already vested as of the date of his termination for one year after his termination date.
This announcement is made pursuant to the Corporate Governance Standards of NYSE Rule 303A.08.
So MF Global invested $6 billion in sovereign bonds issued by European countries, presumably when they started doing this they must have thought they were "risk free" investments, and then Corzine kept doubling up.
They can't be the only one to have doubled up on European sovereign debt.
Do we know who else holds large European sovereign debt relative to their size? They may be next...
They can't be the only one to have doubled up on European sovereign debt.
Do we know who else holds large European sovereign debt relative to their size? They may be next...
As long term client - did you already move your accounts to a different FCM? And if so, who is offering you 10 cents per contract, NOW?
Another angle -
Patsystems Says MF Global Is an âImportant Customerâ Oct. 31 (Bloomberg)
Patsystems Says MF Global Is an âImportant Customerâ Oct. 31 (Bloomberg)