MF Global, the futures and options brokerage, is pulling out of US Futures Exchange and will write its 47.9% stake in the exchange down to nothing if it cannot find a buyer by year end. One market source said USFE would probably close if there is no buyer.
A brief statement from USFE said the exchange’s board had “over the last several weeks, actively sought a strategic sale of its operations, with the goal of reaching a resolution by December 31”.
Bernie Dan, chairman of USFE and...