Mark Fisher [7]is a staple contributor on CNBC. Or at least was. According to various headlines flashing across both Bloomberg and Reuters, it seems that his MBF Clearing Corp [8]is the first victim of the CFTC expanding its MF Global inquiry, and Fisher's MBF Clearing Corp of performing just the same "vaporization" activity that MF Global engaged in and that boggle regulators' minds.
- MBF CLEARING CORP SUED BY CFTC FOR FAILIING TO SEGREGATE FUNDS
- CFTC ACCUSES MBF OF DEPOSITING CUSTOMER FUNDS INTO A NON-SEGREGATED ACCOUNT THAT ROUTINELY HELD BETWEEN $30-90 MLN
- CFTC ALLEGES CUSTOMER ACCOUNTS WEREN'T PROPERLY SEGREGATED
Oops.
In other news, JPM and Jon Corzine are both completely innocent of anything. But at least the CFTC can say it has done its duty of punishing transgressors and all is now well.
Here is Mark in a recent CNBC appearance:
From MBF's About Us page [9]:
Founded in 1987, MBF Clearing Corp. is widely-recognized for our preeminent role within the global futures markets, and for being one of the Industry’s leading futures commission merchant (FCM). Our status in 2012 has changed from Clearing to Non Clearing FCM with a clearing relationship with FC Stone.
Our presence extends across all major exchange-traded futures markets, including energy, metals, soft commodities, currencies, interest rates, and equity-related indexes.
MBF provides the gateway to a wide menu of major market centers, and we play an integral role supporting the industry’s most demanding exchange-based traders, premiere hedge fund managers, financial institutions, and a select group of highly-sophisticated retail customers.
Each day, MBF customers rely on us for:
- Seamlessly facilitating round-the-clock, direct access to all major futures markets.
- Providing the utmost in personal service - on a 24/7 basis.
- Delivering the industry’s most robust trading system[s], trade administration, and risk-management technologies.
- Access to The Logical Trader’s ACD Method**; a proprietary toolset approach to trading virtually any market. ACD methodologies are employed by a wide array of professional traders that depend on ACD Daily inputs to enhance their trading profitability with low-risk, high probability strategies.
Our Background
MBF Clearing Corp. founders and senior executives include the futures industry’s leading traders and operations executives. We have a broad understanding of commodities market dynamics, direct insight to the professional trader “mindset”, and a deep appreciation for the resources that are essential to supporting our highly-demanding customer base.
MBF’s business model is based on a fundamental approach to success:
- World-class operations infrastructure staffed by a team of experts in each department, and complemented by strategic alliances with leading industry vendors.
- Unrivaled dedication to delivering integrity-rich and highly personalized concierge-level service.
- Broad knowledge and on-going commitment to best-in-class risk management and trading system technologies.
- Remain flexible and innovative.
Our Clients
MBF Clearing Corp. is particularly well-known for supporting a significant number of professional floor traders, “upstairs” fund managers, and boutique trading firms, including The Fisher Proprietary Trading Group, an elite team of 75+ traders and quantitative analysts that are renowned for their prowess and their disciplined incorporation of the ACD Methodology, a quantitative approach to trading a wide variety of liquid markets.