ADM Investor Services 1 Of 5 Clearing Firms To Get MF Bulk Transfers-President

ADM Investor Services Inc., a subsidiary of commodities giant Archer Daniels Midland Co. (ADM), is one of five firms receiving the bulk transfers of business from failed broker-dealer MF Global Holdings Ltd. (MF), the company's president said Thursday.

"We expect to receive some of a bulk transfer today," Thomas Kadlec, president of ADM Investor Services, told Dow Jones Newswires in a telephone interview.

Wednesday, a bankruptcy judge approved the transfer of 50,000 MF Global Holdings Ltd. (MFGLQ) customer accounts to other clearing firms. The accounts had been frozen since MF Global filed for bankruptcy Monday.

According to the judge's ruling, the accounts would be transferred in bulk to new firms. The former MF Global customers would then have the option to keep the accounts with the new broker, transfer them elsewhere, or liquidate them.

-By Leslie Josephs, Dow Jones Newswires; 212-416-4055; leslie.josephs@dowjones.com

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