Metals clients of failed U.S. broker dealer MF Global's British unit face delays in their positions being transferred to new brokers after a problem with London Metal Exchange (LME) data slowed the migration process, industry sources said on Tuesday.
MF Global's European clients across commodities have become increasingly frustrated at the slow transfer to new brokers a week after the company filed for bankruptcy protection.
Metals traders said on Monday that clearing house LCH.Clearnet, which is handling the migration of positions, had told them it planned to make transfers by last Friday, but this had not happened.
A source with knowledge of the situation said on Tuesday the process of transferring positions had partly been bogged down by a problem with LME data.
The source said MF Global and the LME would work together throughout this week and coming weekend to reconcile all outstanding positions.