IB Really Wants REFCO, IB now top bidder at $858M

Quote from WAEL012000:

Bingo!!

IB's intention through their advertisements and deep discounts is to add on the already happening exodus so when the 4th of the month comes, they will be putting a bid on a cheaper company...it is a steal!!!!

I also get the feeling, I might be wrong though, that IB and many of its people are also following up on such campaign by tacitly giving ambiguous statements, such as def, on any available outlet to further promote such exoduses.

Legal??......Possibly!
Ethical??...... definetly not!!


By the way, I for one will not touch IB with a 6 foot stick.

Peace!!
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you are wrong on all accounts. there is no conspiracy theory here. i'm sorry that you are unable to comprehend that not all aspects of the situation are public knowledge. if you go back to my original post, you'd see that I was responding to another comment, nothing else.
 
Quote from kjkent1:

As an IB customer with multiple accounts, I hope IB's proposed acquisition of Refco doesn't impair IB's status as one of the only decent retail trading firms in the market.
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exactly. refco has been hit with many lawsuits prior to this mess. that is a reflection of the attitude of executives in the higher echelons
 
Quote from BlueHorseshoe:

Gonna have to change that handle to 0.5cents.
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:-)))
Flowers bid early 'cause he had the inside skinny from Goldman, or Goldman had his back one way or another. Anyone else would have had to bid blind ...
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dude, maybe like Def there is sthg u know that we don't know... me, i am just looking at the facts... IB didn't have access to any more doc when it placed its bid the other week than it had had when flowers did... if flowers hadn't placed its bid, giving weight to the idea that there was real value worth saving there, we simply wldn't be talking abt RFXCQ anymore - and that wld've been the preferred course of events for IB, fxcm etc - because it just wldn't be a going concern anymore...

now i have nothing against IB in particular, actually quite impressed by a number of things from them, v.likely to open an acct with them... but that doesn't stop me from taking a critical look at events as they unfold... and when i see s.o. or a company or one of their groupies puffing their chest and making statements to the effect that they woulda, coulda (shouda??), i am sorry but i just have to laugh ;-))))))) peace
 
Quote from def:

you are wrong on all accounts. there is no conspiracy theory here. i'm sorry that you are unable to comprehend that not all aspects of the situation are public knowledge. if you go back to my original post, you'd see that I was responding to another comment, nothing else.
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Def, that we do know, nothing new here, and also that every competitor wld immediately "express an interest" if only to get privy to as much inside info as they can, but now tell me: how scientific was/is IB's process in assessing refco's business value if in the space of 3 weeks, u end up placing 2 successive blind bids as u have?

anyway, this is v.much rear-guard type stuff, am more interested in the battle ahead, and the outcome(s) ;-))) good luck to IB! cheers
 
Quote from FredBloggs:

....either way, thats a lot of money ib are splashing out just so they can get their hands on a reliable platform! anyway, refco stuff dont do stocks so its gunna be another lame duck (with bird flu)

:)
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Quote from saxon:

I just hope IB doesn't go down the tubes, biting off more than it can chew.

Fortunately, I closed my Refco account 6 months ago...dodging that bullet. But my IB account is still open. Don't want to have to bet on getting lucky TWICE. :eek:

Wall St. is becoming like a mine field; you have to be careful what you step on.....or what you step IN!

:p
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Quote from kjkent1:

As an IB customer with multiple accounts, I hope IB's proposed acquisition of Refco doesn't impair IB's status as one of the only decent retail trading firms in the market.
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As these are righteous concerns for current IB customers, I'll volunteer some loose 'nononsense' thoughts. :)
Knowing something about software engineering, my speculation from a distance would go as follows:
(1) REFCO has or had a reliable platform(s) with plenty of really nice eye-candy. Only Futures. No API. Only good for 'button-pushing', 'ladder-drugged' traders, no future whatsoever;
(2) REFCO had the insight (or good fortune?) not to have been stuck in the Java mess. Java, in spite of Sun's frantic efforts, is on its way out. (If you didn't know yet, read more about it in one of the latest O'Reilly books);
(3) REFCO never managed to think beyond or support anything but windoz. Also not very clever these days;
(4) REFCO had the wisdom of not trying to cater to the hungry 'Charting Crowd' knowing pretty well that there is only "miser's" money to be made of that customer segment; besides, a lot of competition; besides, a few practitioners went kind of under already trying their hand at it;
(5) REFCO and FIX? dunno about this. IB these days is trying to start something here but is still stuck with its Java. On top, you will likely need TWS next to the FIX connector, again Java;
(6) What about combining REFCO and IB software platforms? An ignorant observer might step over this lightly. This is not a '1 + 1 = 2' play however. If I would have to direct such a software project, I would refuse unless given absolute power to kick things around in the right direction. Why and how? Read points 1 - 5 once over again;
(7) What then, assuming that IB would really acquire REFCO? It ain't going to be a cakewalk. :(

nononsense
 
I hope they lose the bid. What a pos IT backend. Can't log in all day. Bloody POS. Fire the IT idots and offshore the whole incompetent department.
 
Quote from nononsense:

As these are righteous concerns for current IB customers, I'll volunteer some loose 'nononsense' thoughts. :)
Knowing something about software engineering, my speculation from a distance would go as follows:
(1) REFCO has or had a reliable platform(s) with plenty of really nice eye-candy. Only Futures. No API. Only good for 'button-pushing', 'ladder-drugged' traders, no future whatsoever;
(2) REFCO had the insight (or good fortune?) not to have been stuck in the Java mess. Java, in spite of Sun's frantic efforts, is on its way out. (If you didn't know yet, read more about it in one of the latest O'Reilly books);
(3) REFCO never managed to think beyond or support anything but windoz. Also not very clever these days;
(4) REFCO had the wisdom of not trying to cater to the hungry 'Charting Crowd' knowing pretty well that there is only "miser's" money to be made of that customer segment; besides, a lot of competition; besides, a few practitioners went kind of under already trying their hand at it;
(5) REFCO and FIX? dunno about this. IB these days is trying to start something here but is still stuck with its Java. On top, you will likely need TWS next to the FIX connector, again Java;
(6) What about combining REFCO and IB software platforms? An ignorant observer might step over this lightly. This is not a '1 + 1 = 2' play however. If I would have to direct such a software project, I would refuse unless given absolute power to kick things around in the right direction. Why and how? Read points 1 - 5 once over again;
(7) What then, assuming that IB would really acquire REFCO? It ain't going to be a cakewalk. :(

nononsense
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It is not only the platform, it is Refco's "clearing" clout IB is after.

You are right about the type of clients Refco caters (mostly position) which do not necessarily subscribe to the way IB do their business. I for one will be giving my Buz. to Man Financial...They are as mature as Refco.
 
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