MF Global bankruptcy leaves FX expansion in limbo
The bankruptcy of New York-based broker-dealer MF Global has called a halt to its planned expansion into the foreign exchange market, with the future of its FX business and staff still uncertain at the end of last week.
MF Global announced on October 31 that it was filing for Chapter 11 bankruptcy, having announced a net loss of $191.6 million for its second fiscal quarter, as a result of a $6.3 billion exposure to eurozone sovereign debt.
The broker-dealer had maintained an aggressive push into
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