LeapRate Exclusive... LeapRate has learned that the May acquisition by FXCM (NYSE:FXCM) of FXDD's US client assets was done for cash consideration of $4.4 million. It turns out that the assets acquired were a little less than previously advertised - FXCM ended up getting $23.4 million in client equity spread among 6,172 active accounts. FXCM's…
Read moreFXCM has released a formal statement on its purchase of FXDD's US client base, which apparently included $27 million of client funds spread over 7,000 active trader accounts. The statement follows:
Read moreFXCM concludes transaction relating to ailing HFT firm Infinium Capital five months after acquiring $12 million note from investors, and launches joint venture firm V3 Markets FXCM has announced the completion of its purchase of selected assets of Chicago-based high-frequency trading company Infinium Capital Back in October 2013, LeapRate reported that investors in Infinium Capital…
Read moreFXCM already has a strong balance sheet with over $400 million in cash. Leading forex broker FXCM (NYSE:FXCM) announced today that it has extended its $155 million credit facility by $50 million to $205 million -- and under certain circumstances it can be further extended to $250 million. The maturity of the facility was extended…
Read more$5 million cash paid up front, a further $10.6 million to be paid in 2015 in cash and/or FXCM stock. So what is top-end Forex research worth? A lot, it turns out. LeapRate has learned that FXCM's previously-announced acquisition of Faros Trading cost FXCM $15.6 million -- and that's just for 50.1% of Faros. FXCM (NYSE:FXCM)…
Read moreClarification to yesterday's story on FXCM's investment in commodities market maker Infinium Capital. Small clarification to yesterday's announcement by FXCM that it had purchased a $12 million note issued by commodities market maker Infinium Capital. This might just be a small nuance, but LeapRate has learned that FXCM purchased the already-existing note from Infinium investors,…
Read moreFaros 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…
Read moreHowever FXCM did not say whether or not any sort of investment in or acquisition of Infinium was imminent. After a Wall Street Journal article reported that leading forex broker FXCM was in talks to to invest in Infinium Capital Management LLC, a Chicago-based struggling high-frequency trading firm, FXCM decided to post a quick comment confirming…
Read moreFXCM positions itself strongly to pursue acquisitions, raising nearly $50M more than planned following strong demand for its notes. Leading FX broker FXCM, a member of LeapRate's Approved List, has increased the size of its initial note offering from a planned $125 million to $172.5 million, following strong demand from institutional investors for the offering. FXCM's five-year…
Read moreFXCM has $275 million in cash, and just over $100 million in debt. So why is it borrowing more money? Leading FX broker FXCM, a member of LeapRate's Approved List, announced yesterday its plans to raise $125 million in 5-year convertible notes. (Up to $144 million, actually, if the Wall Street underwriters choose to exercise…
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