MF Global trustee, CME reach $130 million pact

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James Giddens, the trustee liquidating MF Global's broker-dealer unit, said on Thursday he has reached an agreement for CME Group to return $130 million to former commodity customers of the failed brokerage.

The accord must be reviewed by the bankruptcy court and will only be implemented after approval, Giddens said in a statement.

"In total, the agreement provides for the disposition of over $175 million in MFGI property currently held or controlled by CME Group," the statement said.

The $130 million will be split between customers trading on domestic and foreign exchanges, he said.

CME did not immediately respond to a request for comment.

Last week, Giddens said he was in negotiations to recover $175 million controlled by CME, which was MF Global's primary regulator.

A hearing on the agreement is scheduled for July 11.

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