Frequently Asked Questions
What is happening with my account?
BTR Trading Group is in the process of transitioning from clearing trades with MF Global (MFG) to Rosenthall Collins Group (RCG). As the result of a decision by the bankruptcy court dealing with MFG's Chapter 11 filing, BTR accounts will first be transferred to R.J. O'Brien (RJO) and then will be bulk transferred to RCG. Clients will receive what is known as a 'negaitive response letter' from RJO which will notify them that their MFG account is being transferred from RJO to RCG. Clients do not have to respond to this letter to have their assets made available to them at RCG. They have divided these accounts into accounts with open positions and accounts with no open positions.
- Accounts with Open Positions
BTR accounts with MFG which had open positions on some exchanges have had those postions transferred to RJO along with 75% of the maintenance margin. These accounts are on margin call and must have their positions liquidated or additional monies to meet the call transfered by the close of business November 7th. Call BTR if you have open positions ASAP: 800-454-4474. Positions on the following exchnage were transferred: CME Group (including CME, CBOT and NYMEX), ICE Futures U.S., Kansas City Board of Trade, Minneapolis Grain Exchange, NYSE Liffe U.S. and CBOE Futures Exchange (CFE).
- Accounts in Cash
Cash assets are still sitting at MFG pending the decision of the bankruptcy court to release these funds. As soon as the funds are released, the assets will move to RJO and then to RCG.
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Did positions on international exchanges move to RJO?
No. If you have a position on foreign exchanges, please visit www.mfglobaltrustee.com.
Are the trades going to come over with the exact same dates and prices that they were on the books at MF Global?
No. Futures transferred at Thursday’s settlement price (November 3, 2011). Options were transferred at zero premiums (zero value.) However, options that have expired in-the-money as of the close Friday, November 5, will be automatically exercised or assigned.
Will my account number stay the same with RCG ?
The last 5 digits of most account numbers will stay the same, but the first 3 digits will change from R11 to 708.
MORE INFORMATION WILL BE POSTED AS IT BECOMES AVAILBLE
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