CME Is Legally Liable For MF Global Customer Losses

`` I see no evidence that CME Group has walked up to the plate and done what it is supposed to do. Perhaps CME will now claim that it didn't mean that passage to say what I say it meant. However, all ambiguities in a contract are to be construed against the writer. That is basic law. The CME Group wrote up the pamphlet from which I am quoting for the purpose of convincing customers to have confidence in the system and to do business with it. The failure to immediately credit customer accounts with the full amount of all cash, even if it means dipping into the CME emergency fund to do that, therefore, is shameful. It will result in unjustified margin calls against people with plenty of cash, and involuntary liquidation. That sounds to me like punitive damages material, given that CME Group has a clear obligation to immediately make customers whole, as it promised it would.''