Refco Account Security

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latest update on bloomie 2:25 says sthg abt their corp struct:

the cap mkt unit is a sec & fx broker based in bermuda !!!!!!!!!

but am sure u knew of course... lemme tell u, now i feel really good!
 
Quote from Lon Eagle:

How you can attempt to bash other people on here is beyond me - you look discredited. All you have said over the past few days is no problems at Refco, just accounting issues, $430m been repayed etc etc.

Anyone who has money with any company within the Refco strcuture is a fool if they don't withdraw it, if they still can. These situations are all about liquidity and at the moment there will hardly be any.

If the situation calms down then pay your money back in if you wish but what is the benfit of keeping money there for now?
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You obviously do not understand the distinction between REFCO Capital Markets Group and REFCO LLC., where futures accounts are segregated accounts.

I am still clearing thru them.
Do as you wish.
 
sorry was replying to apex capital... they also say it was in refco's ipo prospectus... shame on me i didn't even read the thing like every other smart human being on this planet...
 
Quote from 2cents:

latest update on bloomie 2:25 says sthg abt their corp struct:

the cap mkt unit is a sec & fx broker based in bermuda !!!!!!!!!

but am sure u knew of course... lemme tell u, now i feel really good!
More...

You are now just becoming aware of this???

And you say that you had client money with a company that you know very little about . . . Amazing.
 
Quote from Brandonf:

If you are still comfortable keeping your money there after all this your nuts.
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how would u make money if there are no nuts in the market. don't frighten the insane asylum. we need them the same we need newbies. darwinian and all of that.
 
Quote from Apex Capital:

And you say that you had client money with a company that you know very little about . . . Amazing.
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dude, i have PAs and client monies with 5 brokers & 2 ECNs, incl fxcm, acm but not refco, i am trading all this stuff by myself, u think i have the time to read all the corporate junk that comes my way??? where do U find all the time may i ask, like can u give me the whole corp lowdown on FXCM, ACM, IFX for instance? just curious...
 
Quote from Apex Capital:

You obviously do not understand the distinction between REFCO Capital Markets Group and REFCO LLC., where futures accounts are segregated accounts.

I am still clearing thru them.
Do as you wish.
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What I do understand is that the whole Refco Group will face a liquidity crisis, regardless of where the original problem was. As I first stated when these issues arose, and when you tried to belittle me, if you can get your funds out then one should,. If it all turns out okay then pay it back in later.

Unfortunately I understand in the UK all the futures traders at Mac have had their funds frozen and can't pay funds out.
 
Quote from 2cents:

dude, i have PAs and client monies with 5 brokers & 2 ECNs, incl fxcm, acm but not refco, i am trading all this stuff by myself, u think i have the time to read all the corporate junk that comes my way??? where do U find all the time may i ask, like can u give me the whole corp lowdown on FXCM, ACM, IFX for instance? just curious...
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If you don't have the time to have a much more extensive understanding of the companies that you clear thru, hire someone that does. That would be the most obvious and prudent fiduciary answer to your question.

It's that simple.
 
Quote from Lon Eagle:

What I do understand is that the whole Refco Group will face a liquidity crisis, regardless of where the original problem was.
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Please feel free to explain as to how Refco LLC (where the segregated futures accounts are), will be effected. Please be specific.
 
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