Tuesday, June 19, 2012

Not Worth the PDF It's Printed On

MF Global Client Protection

"For All Futures Customers of a U.S. FCM Trading U.S. Futures or Options:  Section 4d(a)2 of the Commodity Exchange Act provides that a U.S. FCM must keep all money, securities and property of its customers use to margin futures or options trades on U.S. exchanges and all monies accruing to its customers as a result of such trades segregated from the funds of the FCM.  CFTC Regulations1.20 and 1.30 provide specific requirements for the handling of customer funds."

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