The auction “might raise the [recovery] rate for some of the smaller clients,” said John Roe, leader of the Commodity Customer Coalition, which represents more than 8,000 MF Global clients. “I can’t see how it will help institutional clients. Those clients are much better off doing a direct deal with a buyer.”

Read the rest of the story at FT.com:

http://www.ft.com/cms/s/0/e9b88d1a-ba22-11e1-84dc-00144feabdc0.html#ixzz1yKqGZarJ