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Foreign Exchange

FX round-up: Another day, another dollar

Just days after Refco announced what it termed “significant volume increases on its professional and institutional FX trading platform, FX ProTrader”, activity on the platform ground to a complete halt.

Foreign exchange had been one of Refco’s biggest growth areas, with the company claiming that daily volumes

were about $10 billion to $15 billion.

Refco FX ProTrader was launched in December 2004.

Unfortunately, after a 15-day moratorium was imposed on all activities at Refco Capital Markets Ltd on October 13, the ProTrade screens went blank. At the time of writing, there was no indication of when, or even if, activity would resume.

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