Hot on the heels of the rogue trader incident that cost the firm $141 million a couple weeks ago, MF Global shares declined to $6 per share on Monday, March 17 from $17 on Friday, March 14. The loss prompted the company to issue a press release yesterday stating that its counterparty relationships are sound, that it is not experiencing any difficulty with its repo lines and has no exposure to subprime mortgage backed securities. And Joe Lewis, the Bermuda based football team owner who lost a billion dollars in the Bear Sterns debacle, he’s not a client. The CME Group, New York Mercantile Exchange and the Intercontinental Exchange issued releases stating that the company continues to meet its obligations to their clearing houses, and even the Commodity Futures Trading Commission stood up and said the firm continues to meet its regulatory requirements.
