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LORD COPPER: In MF Global bankruptcy margins make matters messy
November 24, 2011 - 16:19 GMT
MF Global bankruptcy
MF Global’s bankruptcy ought to be an easy one for the markets to digest.
It's a regulated company and the majority of its trading
appears to be on regulated exchanges, where clearing systems of
some sort operate. This means that, on the surface, the
parameters within which things could go wrong seem
well-defined. The exchanges and clearing houses between them
should have positions cleared, transferred and margined in the
blink of an eye. Or, at least, that's what we all think should
be the case. Unfortunately, some uncomfortable facts are being
thrown up, which put matters into a slightly different
perspective. It is understood that the company has made
investments (although punts would be...
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