BROKERS NEWS
ACM Advanced Currency Markets SA  
posted 02.07.2004

On the 29th of June 2004 Refco Group Ltd. LLC. acquired a majority stake of ACM Advanced Currency Markets SA. This definitive agreement makes us an integral part of the Refco Group Ltd. LLC. and the management and all members of ACM are proud to belong to one of the largest and most famous names in the brokerage industry.

With 3000 employees in 14 countries, over 20 billion US dollars in total assets and 250'000 customers, The Refco Group is indeed the largest non-bank broker in the world! Additionally the group is valued at approximately 2.25 billion US dollars making Refco a major player in the financial world as a whole.

Refco's worldwide subsidiaries are members of principal U.S. and international exchanges, and are among the most active members of futures exchanges in Chicago, New York, London, Frankfurt, Paris and Singapore.

In addition to its futures brokerage activities, Refco is a major broker of cash market products, including foreign exchange, foreign exchange options, government securities, domestic and international equities, emerging market debt, and OTC financial and commodity products. Refco is one of the largest global clearing firms for derivatives.

To summarise the main points surrounding the ACM-REFCO deal:

  • ACM's management remains the same.
  • All our execution conditions, spreads, margins and methodology of execution will remain the same if not improve over time.
  • All technology will remain in place and ACM's award winning flash platform (which is unique in it's kind) will remain the same.
  • All existing partnership agreements will remain in full force and our rebate conditions will not change.

ACM/REFCO definitive agreement press release 29/06/2004

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