FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person * Butte Amy S   2. Issuer Name and Ticker or Trading Symbol MF Global Ltd. [MF] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chief Financial Officer (Last) (First) (Middle) 717 FIFTH AVE, 9TH FLOOR 3. Date of Earliest Transaction (Month/Day/Year) 07/18/2007 (Street) NEW YORK, NY 10022 4. If Amendment, Date Original Filed(Month/Day/Year) 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 Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Share Options (right to buy) (1)	$ 30	07/18/2007		A		416,666		(1)	07/18/2014	Common Shares	416,666	$ 0	416,666	D
Share Options (right to buy) (1)	$ 30	07/18/2007		G			71,900	(1)	07/18/2014	Common Shares	71,900	$ 0	344,766	D
Share Options (right to buy) (1)	$ 30	07/18/2007		G		71,900		(1)	07/18/2014	Common Shares	71,900	$ 0	71,900	I	By Trust (2)
Restricted Share Units (3)	(3)	07/18/2007		A		366,666		(3)	(3)	Common Shares	366,666	$ 0	366,666	D
Restricted Share Units (3)	(3)	07/18/2007		G			19,500	(3)	(3)	Common Shares	19,500	$ 0	347,166	D
Restricted Share Units (3)	(3)	07/18/2007		G		19,500		(3)	(3)	Common Shares	19,500	$ 0	19,500	I	By Trust (4)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Butte Amy S 717 FIFTH AVE, 9TH FLOOR NEW YORK, NY 10022	X		Chief Financial Officer

Signatures

/s/ Jacqueline M. Giammarco, by power of attorney		07/20/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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)	Each share option represents the right to purchase one common share, par value $1.00 per share of MF Global Ltd. (each, a "Common Share"). The share options will be subject to the terms and conditions of the MF Global Ltd. 2007 Long Term Incentive Plan (the "Plan"). One-third of the share options will vest on each of the first, second and third anniversaries of the grant date (becoming fully vested on the third anniversary of the grant date). Each share option becomes exercisable upon vesting.
(2)	An aggregate of 71,900 share options directly owned by Ms. Butte were contributed as a gift to an irrevocable trust for the benefit of Ms. Butte's relatives and over which Ms. Butte exercises investment control. As a result of Ms. Butte's relationship with the beneficiaries of the trust and the investment control that she exercises over the trust, Ms. Butte may be deemed to indirectly beneficially own such 71,900 share options. Ms. Butte disclaims ownership of these securities.
(3)	Each restricted share unit represents a contingent right to receive one Common Share and will be subject to the terms and conditions of the Plan. The restricted share units will vest in full on the third anniversary of the grant date. Vested restricted share units will be delivered to the reporting person on the earlier of the sixth month anniversary of the vesting date or such other date as specified in the award agreement.
(4)	An aggregate of 19,500 restricted share units directly owned by Ms. Butte were contributed as a gift to an irrevocable trust for the benefit of Ms. Butte's relatives. As a result of Ms. Butte's relationship with the beneficiaries of the trust and the investment control that she exercises over the trust, Ms. Butte may be deemed to indirectly beneficially own such 19,500 restricted share units. Ms. Butte disclaims ownership of these securities.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.