Email from Commsec to client below!!! How good is Commsec???
Following our telephone conversation earlier and your request to withdraw funds from your OTC CFD account, I am confirming that we will be transferring $_______ to your nominated bank account.
The amount we have transferred to you is based on the estimate we have made for the closing price of your OTC CFDs that were open before our hedge counterparty, MF Global Australia Ltd, went into Voluntary Administration.
Once we have received full disclosure from the administrators of the actual closing prices (currently anticipated to occur in mid-February), we will reconcile your positions and then settle any balances owed to you or, in the event we have repaid you too much, make arrangements with you to return such excess funds to us. We will notify you when we receive and can update the confirmed closing prices.
If you have any further questions, please contact the CFD Desk on 1300 307 853, 8am – 6pm, Monday to Friday. Regards,
