The estimated hole in MF Global’s customer accounts has doubled in size to $1.2 billion, astonishing traders as the investigation into the broker’s failure enters its fourth week.

The new figure, from the bankruptcy trustee for MF Global’s US brokerage, is equivalent to almost a quarter of the $5.45 billion in client funds that the firm was required to hold separately from its own funds. – (Copyright The Financial Times Limited 2011)