Singapore Exchange Limited ("SGX") has suspended the membership of MF Global Singapore Pte Limited ("MF Global") on Singapore Exchange Securities Trading Limited, Singapore Exchange Derivatives Trading Limited and Singapore Exchange Derivatives Clearing Limited with immediate effect.
MF Global has no outstanding proprietary positions and almost all their customers' positions on SGX have been transferred to other clearing members or closed out by MF Global. Only a small number of customer accounts remain open and available for transfer to other brokers or to be closed out.
The suspension does not affect the ability of MF Global customers to obtain transfers of their positions on SGX to other clearing members or to close out their positions. SGX will assist with either option and continue to facilitate customers’ requests until 9 November 2011. Thereafter, remaining positions will be closed out.
MF Global continues to meet its financial obligations to SGX’s derivatives clearing house.
Singapore Exchange (SGX) is among the world's largest exchanges and Asia's second largest listed exchange. As the Asian gateway, SGX is the market of choice for investors wanting to participate in Asia's vibrant and rapidly growing economies, and for Asian issuers seeking international capital.