Although the business continued to operate last week, all
signs pointed to an exodus of traders from Refco's Local and
proprietary trading subsidiary, Refco Trading Services (Refco
One trader at the firm's London office, whilst insisting
that it remained possible to withdraw money from accounts at
the firm and that trading continued, said, "Everyone has the
jitters and a few guys have left already. Most of us have
contingency plans up our sleeve in case it all goes down the
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