Ex MAC/Refco traders

I dont think traders will buy back Mac from Refco. Maybe a couple of the smaller offices will go seperate, but anyone who does buy Refco will probably be left with more trainees/ weak traders than experienced successful traders.

BTW they are interviewing for a new graduate program as I write.
 
Quote from doublechin:

dogfish is actually wrong about the situation. leverage has been cut in ratio terms as well as the general risk profile is not nearly as generous with downside stops. Even if you are backed, if you do not keep cash in you account then you cannot trade.

Also there does appear to be a large number of traders looking for opportunities elsewhere. A number of the stock index traders are making for the door and other large trader in bonds are doing the same.

In fairness RTS was having problems before this mess occured.
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That is rubbish, i trade in Refco Brentwood, i am backed trader. I have emptied my account and i still have the same limits and same daily stop, as do the rest of the office. We are able to draw down our accounts each day. Some of the own account traders emptying their accounts have had limits reduced.but i can understand that. Refco only make brokerage money of those.

I know a hell of a lot of the London traders and yes quite a few of them have gone, but there isn't a rush for the doors yet, unless of course you mean Mary's door, where i believe there is now a permanent queue.
 
Quote from eldrechr:

That is rubbish, i trade in Refco Brentwood, i am backed trader. I have emptied my account and i still have the same limits and same daily stop, as do the rest of the office. We are able to draw down our accounts each day. Some of the own account traders emptying their accounts have had limits reduced.but i can understand that. Refco only make brokerage money of those.

I know a hell of a lot of the London traders and yes quite a few of them have gone, but there isn't a rush for the doors yet, unless of course you mean Mary's door, where i believe there is now a permanent queue.
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Mary's door?:confused:
 
All the Refco guys would know what i mean. Mary is the lady in charge of accounts. If you want to withdraw money from your account you see Mary.
 
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