MF Global was a financial services firm that primarily focused on commodities and derivatives trading. Founded in 1981, it became one of the largest brokers in the United States, providing services to institutional and retail clients. The company was known for its expertise in managing risk and facilitating trades in various markets. In 2011, MF Global filed for bankruptcy after making significant bets on European sovereign debt, which led to substantial financial losses. The collapse raised concerns about regulatory oversight and the protection of customer funds, as billions of dollars went missing, prompting investigations and legal actions against its executives.