Termination of the contract of a futures market trader

Degeld Options v Sulim Malook (1996).

QBD (Popplewell J) 13/6/96.

Summary: Claims by a company trading on London International Financial Futures and Options Exchange (Liffe) against one of its traders and counterclaim by the trader for commission alleged to be due on the termination of his employment.

Claim by a company trading on Liffe against a trader employed by it on the floor of the exchange from 22/5/90 to 5/5/92 for recovery of monies allegedly overdrawn from the defendant's commission account. Counterclaim by the defendant for the balance of commission due to him on the basis that he was entitled to the balance of his commission notwithstanding the termination of his contract of employment within three years.