NEW YORK, Feb 02, 2011 -- MF Global Holdings Ltd. (NYSE: MF), a broker-dealer providing trading and hedging solutions, today announced that it has been designated a primary dealer by the Federal Reserve Bank of New York.
MF Global is now one of 20 primary dealers, which serve as counterparties to the Federal Reserve Bank of New York in open-market operations, participate directly in Treasury auctions, and provide analysis and market intelligence to trading desks at the Federal Reserve Bank of New York.
"Being designated a primary dealer by the Federal Reserve Bank of New York is consistent with our global strategy of expanding our broker-dealer activities, as we seek to serve our clients with broader execution services and greater market insight and ideas," said Jon S. Corzine, chairman and chief executive officer, MF Global.
"We are delighted to join the group of dealers trading directly with the Federal Reserve Bank of New York," said Peter McCarthy, global head of fixed income, MF Global. "This designation is a natural next step as we continue to build our fixed income platform to provide broad access and liquidity to global markets."