Refco Inc. says that it’s receiving plenty of interest from potential buyers for its subsidiaries, including Refco Canada Co.

The troubled firm’s regulated subsidiaries, which were excluded from its bankruptcy filing, include: Refco LLC and its affiliates Refco Securities LLC, Refco Canada Co., Refco Overseas Ltd., Refco (Singapore) Pte. Ltd., Refco Investment Services Pte. Ltd., Refco India PVT Ltd., Refco Securities SA, Refco Taiwan Ltd., and Refco Japan Ltd.

They operate under the oversight of regulatory agencies such as the Securities and Exchange Commission and the Commodity Futures Trading Commission in the U.S., the Financial Services Authority in London, the Monetary Authority of Singapore in Singapore and the Investment Dealers Association of Canada.

Refco’s regulated businesses, which are governed by the rules and regulations of the world’s established exchanges and regulatory authorities, continue to operate and remain viable businesses.

The firm’s management and the board believe that the value of these businesses could be best realized by selling them to knowledgeable and experienced bidders as a going concern. This judgment has been validated by the number of buyers who wish to participate in the bankruptcy court-supervised auction at prices that may be significantly in excess of regulatory capital.

“We realize that recent events affecting Refco have caused concern and uncertainty, so it is critical that our customers and brokers understand that customer accounts in the exchange-traded business operate in full compliance with all rules governing the treatment of customers funds and continue to enjoy all of the protections and guarantees afforded to all those who trade on regulated exchanges,” said William Sexton, chief executive officer of the company.

Bidders have also expressed interest in all of Refco’s businesses and are evaluating them as part of the bid process. “The strong and growing interest in the sale of Refco’s regulated subsidiaries, in particular, is evidence of the widespread recognition within the financial community of the value of Refco as a viable, going-concern business,” added Sexton.

At a hearing earlier this week, the court approved a deadline of Nov. 4 for the submission of bids for the auction slated for Nov. 9 with final court approval of the sale slated for Nov. 10. It reports that the initial takeover offer, announced on October 17, proposed a price of US$768 million. It now says there are reports of offers exceeding US$850 million.

Refco units in the so-called unregulated or over-the-counter market, including Refco Capital Markets, Ltd., are now operating under the full protection of Chapter 11 of the U.S. Bankruptcy Code. The future of the accounts at those units will be determined by the U.S. Bankruptcy Court for the Southern District of New York in Manhattan.