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[zedor]

MF Global Says `Unauthorized' Trades May Cost $141.5 Million
By David Scheer

Feb. 28 (Bloomberg) -- MF Global Inc., the world's largest broker of exchange-traded futures and options contracts, said it set aside $141.5 million to cover an employee's losses after he ``substantially exceeded'' trading limits in his own account.

A failure in one of the company's retail order entry systems permitted ``unauthorized'' trades in wheat futures markets in the early morning hours of Feb. 27, the Hamilton, Bermuda-based company said in a statement distributed on Business Wire today. As a clearing member, the firm is responsible for settling the trades, it said.