Floor Traders: Nymex Halts All MF Global-Cleared Trading
October 31 2011 - 10:32AM
Dow Jones News
The New York Mercantile Exchange halted trading Monday for any
trader using MF Global as a clearinghouse, traders on the Nymex
floor said.
Three floor traders that use MF as a clearinghouse were told
they can't place any trades until they find another brokerage that
is able to back those transactions.
"We got a bunch of guys here who aren't allowed to trade or
allowed to trade customer orders for themselves," said Joseph
Santagata, an independent floor broker at RJM Energy. "Anybody MF
Global or anybody affiliated with MF cannot trade."
CME Group Inc. (CME), owner of Nymex, was not immediately
available to comment.
-By Jerry A. DiColo and Dan Strumpf, Dow Jones Newswires;
212-416-2155; jerry.dicolo@dowjones.com
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