Future for Refco's FX clients still unclear
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Clients in the business's offshore arm Refco Capital Markets remains uncertain, as this has yet to find a home.
Eric Frydenlund Michelsen, vice-chief executive at Saxo Bank in Copenhagen, pointed out that Man has not taken on much of Refco's FX business. He said: "What puzzles me is that the bankruptcy court decided to sell the Refco empire bit by bit. Since Man only bought the regulated futures brokerage, that leaves the unregulated capital markets business – including the FX business – in
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