There were 766 claims traded during the month of September with a total face value of just over $2 billion. For the first time since it began trading claims back in January, MF Global reached the top of the lists for both number of claims traded and total dollar value, edging out Lehman Brothers Holdings, Inc. (LBHI) by 216 claims and $19 million. There were 308 MF Global claims transferred during September valuing $873 million, which was almost double the face value of August’s MF Global transfers. The claims were purchased by 25 institutional buyers at an average of $2.8 million per claim. MF Global claims trading has steadily increased over the past few months and will likely continue to rise as the firm works through its bankruptcy.
Where is the bankruptcy claims ETF? Here's an interesting read on this market, Introducing our new Trade Claims Series: An Interview with Andrew Gottesman from SecondMarket (Distressed Debt Investing). And watch this video to see how bankruptcy claims trade on SecondMarket's transparent, centralized and competitive platform.