Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Futures Markets: Continued Participation or Not *LINK* *PIC*

(Full article linked below)

Tonight's Issue: Continued Participation or Not
Craig Harris
Posted Nov 21, 2011

(Selected quotes)

"So I have to say a few more words about MF Global this weekend and put my other commentary on the cutting room floor. This is important."

"The usual sequence of events in a bankruptcy such as this would be to do a bulk transfer of all the accounts to a solvent broker."

"It has been long assumed that the exchange acts as a guarantor of all exchange members, MF Global being one. These ideas are all breaking down now right in front of us."

"I see this event shaping up as the beginning of the end. It is the beginning of the loss of all or any remaining legitimacy."

"Customers are supposed to and need to remain wholly solvent and able to trade the entire time. This is the way this system is supposed to work. This is the way it has worked for decades. By it working this way it has allowed the development of what we have today."

"This is a regulatory fail, a moral fail, a political fail, a system fail and overall an epic fail. All the way around I hear bells and buzzers ringing."

"It is shaping up as a theft so large it is not even being recognized by the governments, courts their media and regulatory bodies as a theft."

"There is no hesitation to rip people off because there are no consequences for doing so."

"MF Global is developing into a much bigger deal than people are allowing for."

"The path it is going down is not a good one. The path this is going down argues for non participation."

"...this event is setting a precedent."