NEW YORK (Associated Press) - Global exchange operator IntercontinentalExchange said on Friday that MF Global continues to meet all futures clearinghouse obligations despite having discovered a rogue trader lost the brokerage firm $141.5 million.

The Bermuda-based broker said on Wednesday morning it discovered Evan Dooley, a trader at the company's Memphis, Tennessee, branch, traded wheat contracts in amounts that exceeded how much he was allowed to trade.

MF Global said systems in place that should have blocked such trading failed. MF Global fired Mr. Dooley and liquidated the contracts leading to a loss of $141.5 million.

Shares of IntercontinentalExchange fell $1.82 to $132.13 in morning trading. MF Global shares fell $2.75, or 13 percent, to $18.44. Earlier in the session, MF Global shares hit a new 52-week low of $18.40.