MF Global clients to get cash back

MF GLOBAL’S administrator KPMG has revealed that the failed futures broker’s clients will get back much-needed funds before it finally settles all financial positions.

“Final distributions to clients will not be made until all client risk positions have been liquidated or transferred and all claims against have been validated. However, we are likely to make interim distributions along the way,” KPMG said yesterday. MF Global, which employs hundreds in the City of London, went into administration after failed bets on eurozone sovereign debt.