A group of 10 clearing firms began dividing the former clients of MF Global's US brokerage among themselves - one of the first steps by rivals to fill the vacuum left by the huge commodities firm's collapse.

Major banks and brokerages such as BNP Paribas and Newedge Group shared the stage with niche firms such as Penson Financial Services in vetting lists of MF Global account holders yesterday morning, according to a person familiar with the process.