Deloitte Has Been Appointed Administrator to the MF Global in Australia

ASIC is aware that companies in the MF Global group have been placed into administration. This impacts a number of companies in Australia.

Insolvency firm Deloitte has been appointed administrator to the MF Global group in Australia. The administrator will contact clients to advise how their positions and funds are affected.

Activities affected are:

o Equities – MF Global Securities Limited is in administration. Trading activity has halted. Clients of other firms that use MF Global Securities for trading should contact their provider directly. The Administrator will advise how this impacts clearing for recent trading.
o Futures trading – MF Global Australia Limited is in administration and trading activity has halted. The Administrator will advise how this impacts clearing for recent trading.
o Futures Clearing – ASX Clear Futures has advised ASIC that MF Global UK Limited has been put into an event of Default. MF Global UK Limited has also entered the Special Administration Regime in the UK. The Administrator will advise how this impacts clearing for recent trading.
o ASX 24 has advised ASIC that Grain Futures will not open today and Wool Futures have been suspended to preserve the integrity of the market.
o CFDs – MF Global Australia Limited is in administration. Clients of other firms who receive MF Global CFDs should contact their provider directly. The Administrator will advise how this impacts clearing for recent trading.

ASIC is working with all affected parties and will continue to advise when more information comes to hand.

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