Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Schamis David Ira
 2. Date of Event Requiring Statement (Month/Day/Year)
07/29/2008		 3. Issuer Name and Ticker or Trading Symbol
MF Global Ltd. [MF]
(Last)
(First)
(Middle)
717 FIFTH AVE, 9TH FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10022		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
6% Cumulative Convertible Preference Shares, Series A (1)   (2)   (3) Common Shares 12,000,000 (4) $ (4) I See Footnote (5) (6) (7)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Schamis David Ira
717 FIFTH AVE, 9TH FLOOR
NEW YORK, NY 10022		   X      

Signatures

Jacqueline Giammarco, by power of attorney 08/11/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The 6% Cumulative Convertible Preference Shares, Series A (the "Series A Shares") may be converted at any time by the holder into common shares of MF Global Ltd. (the "Issuer"). Each Series A Share is convertible into eight (8) common shares of the Issuer subject to adjustment pursuant to certain customary anti-dilution provisions specified in the Certificate of Designations for the Series A Shares, which was filed as an exhibit to the Issuer's Annual Report on Form 10-K filed on June 13, 2008.
(2) The Series A Shares may be converted by the holder of such shares at any time. The Issuer, at its option, may convert the Series A Shares after May 15, 2013, provided that certain conditions related to the price of the Issuer's common stock is met, as specified in the Certificate of Designations for the Series A Shares which was filed as an exhibit to the Issuer's Annual Report on Form 10-K filed on June 13, 2008.
(3) The Series A Shares are perpetual and have no expiration date.
(4) Each Series A Share is convertible into eight (8) common shares of the Issuer subject to adjustment pursuant to certain customary anti-dilution provisions specified in the Certificate of Designations for the Series A Shares, which was filed as an exhibit to the Issuer's Annual Report on Form 10-K filed on June 13, 2008.
(5) The Reporting Person is an employee of JCF Services Management Co. LLC, the sole member of J.C. Flowers & Co. LLC, which acts as an investment advisor to (i) J.C. Flowers II L.P., holder of 1,067,291 Series A Shares ("JCF Fund II"), (ii) J.C. Flowers II-A L.P., holder of 67,322 Series A Shares ("JCF Fund II-A"), (iii) J.C. Flowers II-B L.P., holder of 65,387 Series A Shares ("JCF Fund II-B"), and (iv) Financial Service Opportunities L.P., holder of 300,000 Series A Shares ("FSO", and together with JCF Fund II, JCF Fund II-A and JCF Fund II-B, the "JCF Funds"). In addition, the Reporting Person is (i) a limited partner of J.C. Flowers Fund II SLP L.P., a limited partner of JCF Fund II, which is entitled to a portion of the net gain realized by JCF Fund II and JCF Fund II-B on their investments, (Continue to footnote 6)
(6) (ii) a limited partner of J.C. Flowers Fund II-A SLP L.P., a limited partner of JCF Fund II-A, which is entitled to a portion of the net gain realized by JCF Fund II-A on its investments and (iii) a limited partner of FSO ILP L.P., a limited partner of FSO, which is entitled to a portion of the net gain realized by FSO on its investments. Accordingly, the Reporting Person may be deemed to hold or share pecuniary interest in, or beneficial ownership of, the Series A Shares held by the JCF Funds.
(7) The Reporting Person disclaims beneficial ownership of the Series A Shares held by the JCF Funds, except to the extent of any pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed to be an admission that the Reporting Person has beneficial ownership of such securities for purposes of Section 16 of the Exchange Act, or for any other purposes.
 
Remarks:
Exhibit List

Exhibit 24: Power of Attorney

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