View Full Version : MF Global Bankrupt

11-01-2011, 10:29 AM

More shit to hit the fan like 2008 all over again?

11-01-2011, 10:35 AM
Considering my recent activism because of stuff like this, I am going to refrain from commenting because I couldn't do so without violating our rule against discussing politics.

11-01-2011, 12:56 PM
TO: TransAct Customers

From: Greg Sabatello

Date: November 1, 2011

RE: Update on Recent Events
Many of you may have experienced a temporary trading disruption yesterday. This disruption was mandated and without notice by the CME and in some instances, ICE. MF Global was suddenly deemed illiquid 14 hours into the electronic open, Sunday evening, when it was deemed fully liquid and safe albeit troubled. It was an unprecedented urgent and extreme action taken by the authorities.

Upon discover of such action TransAct immediately made the necessary changes to unwind all ties to MF Global. Within a few hours we were back to live trading.

Today we are learning about some potential improprieties with regard to comingling MF Global customer funds. YOU ARE NOT EXPOSED TO MF GLOBALíS CUSTOMER FUNDS ISSUES. For the avoidance of doubt, your TransAct account does not have any exposure to the alleged MF Global customer segregated funds issues.

We appreciate your patience during the several hour disruption yesterday.

Evidenced by the urgent effective actions taken yesterday, TransAct remains a firm of high integrity fully committed to our trading clients.

Greg Sabatello
President, TransAct Futures

Disclaimer: TransAct Futures is a US registered futures commission merchant and a member of the NFA. TransAct does not warrant the correctness of any information herein or the appropriateness of any transaction. The contents of this e-mail communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to sell or a solicitation to buy. The information is intended solely for the personal and confidential use of the recipient of this e-mail communication. If you are not the intended recipient, you are hereby notified that any use, dissemination, distribution or copying of this communication is strictly prohibited and you are requested to return this message to the sender immediately and delete all copies from your system. All e-mail may be reviewed by authorized personnel and may be provided to regulatory authorities or others with a legal right to access such information. At various times, TransAct or its affiliates may have positions in and effect transactions in securities or other financial instruments referred to herein. Due to the electronic nature of e-mails, there is a risk that the information contained in this message has been modified. Consequently, TransAct cannot guaranty that messages or attachments are virus free, do not contain malicious code or are compatible with your electronic systems and TransAct does not accept liability in respect of viruses, malicious code or any related problems that you may experience. Trading in futures, products entail significant risks which must be understood prior to trading and may not be appropriate for all investors. Please contact your account representative for more information on these risks. Past performance of actual trades or strategies cited herein is not necessarily indicative of future performance. TransActís Privacy Policy is available upon request.

Pretty close to home for me.