Bryan Durkin, chief operating officer for CME Group, told attendees at a meeting of the National Grain and Feed Association Monday in Chicago that the CME Group will cover a substantial amount of the missing funds from MF Global, but stopped short of saying that all monies lost would be covered by the brokerage.
Durkin indicated that he had personally been proactive in reaching out to the agribusiness community in general and to the NGFA in specific after news of the bankruptcy became public.
“This has been an industry-wide blow to the heart of commodities markets – to its producers, to its processors, and to its distributors, and that blow was dealt by the violations that were committed by MF Global,” Durkin said, speaking to a packed ballroom at NGFA’s annual Country Elevator Conference.
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Durkin indicated that he had personally been proactive in reaching out to the agribusiness community in general and to the NGFA in specific after news of the bankruptcy became public.
“This has been an industry-wide blow to the heart of commodities markets – to its producers, to its processors, and to its distributors, and that blow was dealt by the violations that were committed by MF Global,” Durkin said, speaking to a packed ballroom at NGFA’s annual Country Elevator Conference.
Click here to read the rest of the article.
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