Indiana Grain Company, LLC

Posted: 11/30/11

By: tomgrisafi

On Wednesday, the CME Group released a statement to the trading community with regard to the latest information surrounding the MF Global debacle. The letter reads as follows:

To Our CME Group Trading Community,

Yesterday, the MF Global Trustee filed a motion with the Bankruptcy Court seeking permission to make a third interim distribution of customer funds in the coming weeks. Though details of the timing and amount of the distributions are still being worked out, the Trustee has stated that CME Group’s financial guarantee will enable him to return more than 2/3 of the value of frozen customer segregated accounts, up to an additional $2.1 billion, in roughly two to four weeks. The Trustee has stated that this distribution will include trapped account balances, dishonored checks and distributions with respect to warehouse receipts and other customer property at MF Global.

We know that this process does not move as fast as any of us would like. However, we are pleased that our increased guarantee is helping to return more property to our customers, and we continue to work with the Trustee to facilitate that distribution as quickly as possible.

We expect the Court to rule on this motion on December 9, and will continue to update you on the status of this distribution at that time. Updates and further information continue to be available at www.cmegroup.com/mfglobal.

Source: CME Group

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