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!
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...
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.
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.
To the bottom fisher. Lots of money is made via hubris. Lots of money is lost via hubris. I suspect the latter > former.
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...
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.
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.
Please feel free to explain as to how Refco LLC (where the segregated futures accounts are), will be effected. Please be specific.