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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (4558)	2/29/2008 10:05:02 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 71454

MF is dying. Possible GTZ. AP ICE Says MF Global Meeting Obligations Friday February 29, 10:03 am ET IntercontinentalExchange Says MF Global Has Met All Clearinghouse Obligations ATLANTA (AP) -- Global exchange operator IntercontinentalExchange said Friday MF Global continues to meet all futures clearinghouse obligations despite having discovered a rogue trader lost the brokerage firm $141.5 million. The Bermuda-based broker said Wednesday morning it discovered Evan Dooley, a trader at the company's Memphis, Tenn., branch, traded wheat contracts in amounts that exceeded how much he was allowed to trade. MF Global said systems in place that should have blocked such trading failed. MF Global fired Dooley and liquidated the contracts leading to a loss of $141.5 million. Shares of IntercontinentalExchange fell $1.82 to $132.13 in morning trading. MF Global shares fell $2.75, or 13 percent, to $18.44. Earlier in the session, MF Global shares hit a new 52-week low of $18.40.