The chief executive of MF Global today declared the futures and options brokerage has thrived on recent market volatility, as he presented the group's first quarterly results since it was spun off by UK hedge fund manager Man Group in a $2.9bn (€2.1bn) New York listing a fortnight ago.

Kevin Davis said in MF Global's results statement for the quarter to the end of June: "This was a solid quarter for MF Global driven by continued strong performance in Europe and Asia. Our business is one which tends to thrive in times of market turmoil and uncertainty.