The New York Times For decades, commodities and futures trading firms have been largely policed by the exchanges where they trade, setting up potential conflicts of interest. These profit-making exchanges, like the CME Group, oversee the very futures firms they rely on for business, a self-regulatory system unlike that overseeing... read more →
Futures Magazine James L. Koutoulas, CEO of Typhon Capital Management, is upset at the handling of the MF Global bankruptcy and wants to give a voice to the thousands of customers who don’t have a seat at the table. Koutoulas, who is also an attorney, is informally representing approximately 200... read more →
Crain’s Chicago Business Mr. Koutoulas is also rounding up support from other former MF Global customers for an effort to win representation in MF Global's bankruptcy proceedings. “It's the clients' money,” Mr. Koutoulas said in an interview Monday. “No one is protecting the client.”
The New York Times Mr. Koutoulas, the commodities trading adviser from Chicago, flew to New York early this week to file an emergency motion in federal court asking that all accounts be unfrozen and immediately transferred in full to other clearinghouses.
The New York Times With MF Global filing for bankruptcy on Monday, investors pummeled many financial stocks, fearful that problems were lurking on the books of other Wall Street firms. It was a crisis of confidence, not unlike in 2008 when the markets punished stocks on mere speculation of trouble.