Spectrum to manage front-office, middle-office and back-office foreign exchange trading, risk management and transaction processing activities Financial Software Systems has licensed its Spectrum Foreign Exchange System to Refco Group, Ltd. for use in the company’s London, New York and Bermuda offices. Refco, a global financial services firm headquartered in Chicago, will use Spectrum to manage its front-office, middle-office and back-office foreign exchange trading, risk management and transaction processing activities. Spectrum is a comprehensive FX risk management system. Gerald H. Thurston, president of Financial Software Systems, said that his firm will work with Refco to extend Spectrum’s functionality. ‘This is very exciting for us as we are seeing new uses of our system. We are enhancing Spectrum by developing a margining capability, which is a project we are eager to embark on. Refco will also be able to use Spectrum to handle a variety of commissions and brokerage fee structures that are unique to their business.’
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