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CME Group says it complied with obligations in MF Global funds review
By Caroline Salls
Pittsburgh, Nov. 17 - CME Group said it followed Commodity Futures Trading Commission requirements and CME rules in reviewing MF Global's segregated funds statements and coordinating that review with the CFTC, according to a CME news release.
CME said it was advised in the early hours of Oct. 31 that there was an actual shortfall in the segregated funds account and was told the CFTC was advised at the same time.
Shortly thereafter, CME Group said it discussed the shortfall in a conference call with the CFTC and other regulators.
"CME Group is confident that it complied with all its obligations as a DSRO pursuant to the Commodity Exchange Act," the release said.
MF Global, a commodity and derivatives broker based in New York, filed for bankruptcy on Oct. 31 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 11-15059.
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