As of the appointment of the Joint Special Administrators on 31 October 2011, MF Global UK Limited was a counterparty to unsettled securities trades across a number of exchanges and clearing entities. Many of the unsettled trades to which MF Global UK Limited is a counterparty were subject to settlement instructions in the settlement system where each unsettled trade was due to settle. In a number of cases, those settlement instructions are still pending in the settlement system and this needs to be resolved.
Accordingly, as of 5pm GMT 23 November 2011, any outstanding instructions in place to settle cash securities (equity and fixed income) transactions prior to the time of appointment of the Joint Special Administrators will not be processed and are deemed to be cancelled. Note, this statement applies only to cash securities and not any other derivative or exchange traded products.