New York-based Refco Group, a provider of risk management and investment services, has signed a definitive agreement to purchase UK electronic trading firm MacFutures Ltd, for an undisclosed sum.
MacFutures has offices in Gibraltar and Sydney in addition to its London headquarters and currently supports approximately 200 traders accessing the global futures market.
Joseph Murphy, CEO, Refco Global Futures, says: "The evolution of electronic trading and exchanges and our ability to support the growing number of 'upstairs traders' make this acquisition a natural extension of our core business."
Under the deal, MacFutures operations will become a division of Refco.