The MF Global debacle was really a slow motion car crash. There were numerous red flags going back a year and the bottom line is that according to the initial bankruptcy filing, there was capital within MF Global Holdings to cover the shortfall in customer segregated funds but the appropriate regulatory authorities did not demand those assets
Available on CME Globex, Euro DSF will be listed for quarterly expiration on IMM dates, for physical delivery of an OTC Euro interest rate swap at key terms to maturity of 2, 5, and 10 year and notional value of €100,000.
The futures industry has had a tough couple of years, and with each storm there has been a dire warning that people will abandon it in droves. But the futures industry, particularly in Chicago, has faced many challenges and usually comes out the other end stronger through its ability to innovate.
The advent of electronic trading brought an infatuation with for-profit exchanges, while Dodd-Frank brought hope of regulatory protection for the little guys. Neither delivered in 2013 — will 2014 be any different?
Politically, 2013 was the year of snatching defeat from the jaws of victory. First the GOP followed the direction of Junior Senator Ted Cruz (R Tex.) down a dark alley in a fight they were guaranteed to lose, and, then with the GOP on the ropes, the President and his team botched the roll-out of the Affordable Care Act website. In the markets all eyes were on Federal Reserve mainly because Congress abdicated all responsibility for moving the economy forward to Ben Bernanke, who finally signaled the beginning of the end of QE3.
As we are all well aware, the last two years have been the most challenging for the futures industry in the almost 80 years the two of us, collectively, have been in the business. The collapse of MF Global and the uncovering of the Peregrine Financial Group (PFG) fraud brought about the questioning of systems and procedures believed to be safe
AlphaMetrix has been in a downward spiral since announcing on Oct. 10 that it was experiencing “significant cash flow issues” in a letter to its commodity pool participants signed by President and CEO Aleks Kins.