Fellows: Refco has an aggressive trader working for them at the Soybeans pit at CBOT, who's a kind of leading dog for the fund operators. Does anybody happen to know if they are executing orders for their own accounts or for a hedge fund? Also, what kind of compensation does their pit trader get? And a last question: do you happen to know who is the man? Sucker
REFCO does not deal or proprietary trade for themselves. REFCO clears hedge funds, proprietary firms, and monster speculators. The broker is paid by commission per contract traded, which varies by customer and commodity. Some brokers have become salaried employees.