Commodities Futures

Commodities Futures Biography
CME Group Inc. (CME), the world’s largest futures exchange, will require brokers to report daily customer fund levels as $1.6 billion in client money is still missing related to the bankruptcy of MF Global (MFGLQ) Holdings Ltd.
The daily reports, to begin May 1, must be signed by the brokers’ chief executive officer, chief financial officer or their designated representative, CME Group said in a notice to its members yesterday. The exchange now gets customer segregation reports on a monthly basis from futures brokers. The loss of customer money when MF Global filed for bankruptcy protection on Oct. 31 was a first in the futures industry.
“Customer segregation is the cornerstone of the futures industry, and it is critical to ensure the protections afforded under segregation are as strong as they can be for our market participants,” CME Group, based in Chicago, said in the notice. It is acting along with the National Futures Association, an industry-funded regulator, and the Futures Industry Association, an industry and lobbying group.
CME Group will also conduct limited reviews on a “surprise basis” of customer segregation reports, it said. CME Group was the designated self-regulator of MF Global, which included audit authority over the brokerage.

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures

Commodities Futures