NIBA Members, We’d like to share a few thoughts about the MF Global situation. First, we believe that customers should get segregated funds due them immediately. The basis of our industry has been that funds held in a commodity account have a minimal risk of loss due to institutional or market-structure failures. It is extremely important that we instill confidence in our customers and lenders to hedge and speculate in our markets. Just returning from an NFA Board meeting, we are assured the entire industry is working to get customer funds released by the bankruptcy trustee as soon as possible.…...

NIBA’s legal advisor, Schuyler, Roche & Crisham (SRC) was present in court Thursday morning when US Bankruptcy Judge Glenn approved a plan submitted from the MF Global trustee to begin a distribution of approximately $520 million, or about 60% of customers cash collateral. Neal Stevens, an attorney with SRC, confirmed that the definition of “cash equivalents” includes T-bills. Mr. Stevens had earlier hand-delivered NIBA’s online petition containing over 700 signatures collecting in only about 72 hours. The transfer of funds back to customers may begin by November 24. Some groups had objected to this method of distribution saying it was…...

Greetings NIBA members and supporters, We urge you to sign the following petition in order for the bankruptcy court to have a chance to hear from you – the broker, the trading advisor, the IB – directly. Some of you have the resources to pursue your interests individually, that’s great. But, the court needs to hear from all of you. Our voice is much stronger if we are unified; acting collectively, we can make a difference. This is one of the reasons you belong to and support the NIBA. We are standing up for the rights of all our members.…...