Sandy Maggio
Sandy Maggio

Refco: using Currenex to meet the demands of an extensive customer base.

Refco: using Currenex to meet the demands of an extensive customer base.

First Published: e-Forex Magazine 17 / Case Study / January, 2005

Stephen DispenzaFor Refco, executing trades online is only the first step in the dealing process and Refco's relationship with Currenex is pivotal to its ambition for greater integration.Refco has decades of experience at the forefront of FX and financial markets’ trading so, for them, very little is ‘new’ in terms of trading methods and innovation. Indeed, from Refco’s perspective (as the largest non-bank futures broker in the world) the FX world has actually been somewhat slow on the uptake in going ‘electronic’. Initially, electronic FX trading was strictly the purview of the sell-side; EBS and Reuters offered the first automated interbank price matching services which, while offering high levels of security and user protection, lacked the flexibility available in more open systems architectures.Moreover, such lack of access was entirely intentional. The interbank market wanted to ensure that it could control, absolutely, who was in its private members’ club...continued

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