MF Global Singapore’s winding down progresses

Yes, liquidators are happy as they have now taken control of over $180 million of customer money.

A Reuters report quoted Bob Yap, one of the provisional liquidators from KPMG, as saying, "We are pleased to update that significant progress is being made in the process of winding-down the business of the company and collection of monies and assets of the company and its customers."

The over $180 million is part of the $309 million of customer money that was held with other financial institutions in Singapore and abroad. According to the report, liquidators are confident retrieving the remainder of that sum.

A further $177.9 million in MF Global Singapore customer money is reportedly being held with third-party correspondent brokers, counterparties and clearing members.

View the report here.