Refco regulated broker dealer begins wind-down of proprietary, client positions

By Caroline Salls

Pittsburgh, Oct. 14 - Refco Inc.'s regulated broker dealer Refco Securities, LLC has begun unwinding its proprietary and client positions and will only engage in security transactions to the extent necessary to offset and effectively liquidate outstanding long and short customer and proprietary positions, according to a company news release.

Refco Securities is initiating this step to facilitate an orderly wind-down of positions, the release said.

Refco is a New York-based commodities brokerage company.

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