MF Global

MF Global was a financial services company that specialized in commodities, such as futures and derivatives trading. Founded in 1783 and based in the U.S., it expanded significantly, but in 2011, it faced a sudden liquidity crisis due to risky investments and exposure to European sovereign debt. The company ran out of money and filed for bankruptcy—the largest in the U.S. involving a futures broker. Customers lost money because some of their funds were improperly used for corporate trading activities, raising concerns about financial oversight and risk management in the trading industry.