Faros clients are mainly hedge funds, institutional money managers, corporations, and family offices.

Just a few days after acquiring Alpari US’s retail assets, global forex leader FXCM has made an acquisition on the institutional side of its business, buying Faros Trading. Faros is a leader in FX intelligence, market coverage, and execution services to the institutional foreign exchange market. As they put it, Faros helps clients make money by providing provocative, thoughtful, and value added research.

Faros was founded and run by Goldman Sachs alum Ray Kamrath. Kamrath was formerly Managing Director and Global Head of FX Ecommerce at Goldman.

Financial terms of the acquisition were not released.

For the complete FXCM press release click here.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.