Pm liquidating corp

6854933580_2c8b688306_z

ED&F Man operated as a partnership through to the 1970s, when it started an international expansion which, by 1983, increased its staff 650 employees.

On October 31, 2011, MF Global executives admitted that transfer of 0 million from customer accounts to the broker-dealer and a loan of 5 million in customer funds to MF Global’s U. subsidiary to cover (or mask) liquidity shortfalls at the company occurred on October 28, 2011.

Failure of the repo positions helped cause the liquidity crisis at the firm.

On October 25, 2011 MF Global reported a 1.6 million quarterly loss as a result of trading on European government bonds.

It was stopped from doing new business with the New York Fed until it showed it was able to fulfill its responsibilities as a primary dealer, according to a statement on the regulator's website. On Monday October 31, 2011, MF Global filed for Chapter 11 bankruptcy.

This became the eighth largest bankruptcy protection filing in the history of the United States to that time.

In 2011, MF Global faced major pressures to its liquidity over several months.

You must have an account to comment. Please register or login here!