Scott O’Malia: “What About MF Global?”
This isn’t recent news, it dates back to Jan 11th, but it’s a well prepared speech on the things that LSOC does, and doesn’t do, for clients of an FCM. It’s worth reading carefully, as it answers the question on whether LSOC would have prevented MF Global ‘losing’ client funds, and the answer is pretty much No.
I may add to this post when I get time, but for now I felt it worth posting here as a pointer for the future. It also came up in today’s webinar on clearing by Risk with CME, LCH and Murex speaking.