Australian companies linked to struggling US brokerage MF Global Holdings have been placed in administration.

Insolvency firm Deloitte had been appointed administrator to the MF Global group in Australia, the Australian Securities and Investments Commission (ASIC) said on Tuesday.

The administrator will contact clients to advise how their positions and funds are affected.

“ASIC is aware that companies in the MF Global group have been placed into administration,” the regulator said.

“This impacts a number of companies in Australia.”

MF Global Holdings has filed for bankruptcy protection in the US, after confidence in the firm was shattered by a string of losses from European public debt holdings, making it the first major US casualty of the European debt crisis.

Concerns about the company’s holdings of European debt caused business partners to pull back last week, leading to a severe cash crunch, the company said in papers filed in the bankruptcy court.

ASIC said Australian equities firm MF Global Securities Ltd was in administration and trading activity had halted.

Clients of other firms that use MF Global Securities for trading should contact their provider directly, ASIC said.

Firms who receive MF Global contracts for difference, or CFDs, should also contact their provider directly, it said.

Futures trading through MG Global Australia Ltd has also halted.

The ASX 24 futures exchange has told ASIC that grain futures will not open on Tuesday, and wool futures have been suspended to preserve the integrity of the market.

“ASIC is working with all affected parties and will continue to advise when more information comes to hand,” the regulator said.