ICE, Customers Sound Alarm Over MF Global Cash

Law360, New York (November 10, 2011, 5:14 PM EST) -- Exchange operator IntercontinentalExchange Inc. asked a New York bankruptcy court on Thursday to let it immediately release cash to MF Global Holdings Ltd. customers who acted quickly to transfer or liquidate positions in their commodity trading accounts after the broker-dealer imploded.

In a letter to U.S. Bankruptcy Judge Martin Glenn, ICE said that the way some of MF Global's former customers were getting access to their money while others were not could have serious systemic consequences and was morally perilous.

The discrepancy was created when some...
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