Lind-Waldock
| Public | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | 1965 |
| Founder 👔 | |
| Headquarters 🏙️ | Chicago, Illinois, U.S. |
Area served 🗺️ | |
Key people | Mark Sachs |
| Products 📟 | brokerage services, investment products, online trade, wireless trading platforms |
| Members | |
Number of employees | |
| 🌐 Website | www.lind-waldock.com |
| 📇 Address | |
| 📞 telephone | |
Lind-Waldock was founded in 1965 by Barry Lind,[1] a successful trader at the Chicago Mercantile Exchange, and Jack Waldock, who made his mark in the meat packing industry. Lind-Waldock has been regarded as the first discount futures broker, the first to develop an electronic order-routing system to U.S. futures exchange trading floors, and the first to offer clients an online order-entry platform.[2]
Lind-Waldock operated as a full-service futures brokerage firm primarily serving individual traders, or as known in the industry, “retail” clients.
Refco Group Ltd. acquired Lind-Waldock in 2000, and for a brief period, the company operated under the name Refco Private Client Group. An accounting scandal at Refco forced the sale of business in November 2005, and amid a heated bidding war, Refco Private Client Group was acquired by UK-based financial services firm Man Group plc. Man Group spun off its brokerage arm, Man Financial Inc, in an initial public offering in 2007.[3] Lind-Waldock operated as a division of this spin-off, MF Global Inc. until August 2011. On August 1, 2011, MF Global retired the name Lind-Waldock,[4] integrating the division more fully within the MF Global brand.
The former Lind-Waldock now operates as part of the individual futures trading division at MF Global. Products and services in MF Global's individual futures trading division include self-directed trading, broker-assisted trading, and managed futures.
MF Global Inc. (NYSE:MF) is the leading broker of exchange-traded futures and options in the world. It provides execution and clearing services for exchange-traded and over-the-counter derivative products as well as for non-derivative foreign exchange products and securities in the cash market.
MF Global has a worldwide client base of more than 130,000 active accounts ranging from financial institutions, industrial groups, hedge funds and other asset managers to professional traders and private/retail clients. It operates in 12 countries on more than 70 exchanges.
MF Global Holdings filed for bankruptcy protection on Monday, 31 October 2011, following bad bets on euro zone debt.
Due to MF Global Holdings Ltd.and its finance subsidiary, MF Global Finance USA Inc., filing for Chapter 11 Bankruptcy Petition, the CME Group, NYMEX and ICE are accepting &"liquidation only” orders from MF Global clients, and have restricted electronic access to their markets.
This means that you may place offsetting orders for current open positions at MF Global, but may not place any new orders. Performance of your trades is guaranteed by exchange clearinghouses.
References[edit]
- ↑ "Barry J. Lind".
- ↑ "Data Broadcasting and Lind-Waldock Partner to Provide Internet Futures Trading; Signal Online to Be Private-Labeled for Lind-Waldock Customers". Bnet.com. July 14, 1998.
- ↑ "Man Global Crushed". The Street.com. February 25, 2008.
- ↑ "Media Advisory: Lind-Waldock Changes its Name to MF Global".
External links[edit]
- Lind-Waldock Homepage
- Lind-Waldock name resurfaces in futures community
- Institutional and Retail Find Common Platform
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