31 Oct '11, 2pm

SGX suspends MF Global S'pore

SGX suspends MF Global S'pore

SINGAPORE: MF Global Singapore has been ordered by the Singapore Exchange (SGX) not to take on new derivatives positions. SGX also ruled that the company may only reduce existing positions. The Monetary Authority of Singapore (MAS) also issued a statement on Monday, directing MF Global Singapore "not to take on new positions with immediate effect in respect of all its regulated activities, except for reductions or liquidations of positions." The MAS and SGX would continue to monitor the situation closely. Meanwhile in New York, MF Global has filed for bankruptcy, after confidence in the firm was shattered by a string of losses from European public debt holdings. The trade in MF Global shares was earlier Monday halted on the New York Stock Exchange as the New York Federal Reserve announced that the brokerage firm was "suspended from conducting new business with the New York...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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