MF Global, the futures and options brokerage, has pinpointed fixed income, especially cash products, as a growth sector for 2009 and has applied to become a primary US Treasury dealer.
The company’s confidence has recovered a long way in the past year, since it was rocked by a scandal involving illegal wheat trading by a private customer that cost MF Global $141.5m. CEO Kevin Davis resigned in October and was succeeded by Bernie Dan, who has worked to set the firm back on course.
Now MF Global executives say the next opportunity will come in cash interest rates and other over-the-counter products that are being forced on to regulated clearing platforms and exchanges.
The firm, already active in cash interest rates, wants...