- Did not get my margin funds back in time today. Let's hope that client funds segregation, MAS regulated, etc means that I will not have to suffer any loss here, just inconvenience of timing.
- Have traded solely with MF Global for the last 5 years, during which time I have found no complaints. Simple (is best), robust execution platform, reliable back office, and the rare occasions during which I had to use front office for execution have been satisfactory.
- Stupid stupid stupid Jon Corzine! In less than 2 short years, he has run a perfectly sustainable brokerage business to the ground with Prop Trading and in so doing, cost thousands of innocent employees their jobs. And so soon after the lessons of Lehman as well. How dare he! Can only attribute this to sheer greed.
- I wish all the MF Global staff best of luck in finding new employment.
6 comments:
http://dealbook.nytimes.com/2011/10/31/regulators-investigating-mf-global/?hp
What a drag ..
HI TS,
I have only one word to describe Jon Corzine : Hubris
Just heard that liquidators are in MF Sing. Everything frozen. What bad luck.
Maybe can use philips as an interim solution first until you find other better broker. Execution is via PATS also.
Russell
Sad to hear that, Seal.
Your money is protected under SIPC right?
Jon Corzine - Ex-Goldmanite MOTU breed, think they can do no wrong. But when they have to run a real business, deprived of their govt connections and inside info, they amount to nothing.
Hope you get your money back, and it isn't too much.
Pandu
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