In Forex Industry News this past week… How much did LMAX management pay Paddy Power Betfair PLC (LON:PPB) to buy out the latter's 31% stake in LMAX. And, where did they get the money from? Which FX brokers were awarded financial services licenses in Jordan? Which investors put HK$200 million into Hong Kong based Retail FX…
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LeapRate Exclusive... LeapRate has learned that FXCM Group has made some senior management changes, as the company continues to shift its operating focus to London, under FXCM CEO Brendan Callan. The primary change involves the promotion of longtime FXCM US employee Juan Cafe to the #2 position in the company. Mr. Cafe will be COO…
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Regulatory filings made with US securities authorities indicate that two co-founders and original senior members of FXCM’s management team – Drew Niv (pictured above) and David Sakhai – have continued selling their remaining shares of Global Brokerage Inc (NASDAQ:GLBR), after recently converting their special “units” into regular Class A common shares of Global Brokerage. FXCM's founders, and several other members…
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Regulatory filings made with US securities authorities indicate that three original senior members of FXCM's management team - Drew Niv, David Sakhai and Eduard Yusupov - have begun to convert their "units" into regular Class A common shares of Global Brokerage Inc (NASDAQ:GLBR). Longtime FXCM CEO Mr. Niv and several other members of senior management were issued non-publicly…
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LeapRate Exclusive Interview... We often begin interviews with leading FX industry figures with a lengthy "setting the stage" intro. But not here. Following this weekend's news of the Chapter 11 reorganization filing by Global Brokerage Inc (NASDAQ:GLBR), we're just as curious as our readers to hear directly the people leading FXCM Group, in which GLBR owns…
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It was one of those weeks in Forex Industry News where things were 'all over the place'. We saw senior executive moves at ADS Securities, ArgusFX, and of course FXCM parent Global Brokerage Inc, which finally replaced CEO Drew Niv. There were regulatory actions. And, the arrest of the owner of a Binary Options brokerage…
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LeapRate Exclusive... Times are clearly not easy at retail forex broker FXCM, or at its (50.1%) parent company Global Brokerage Inc (NASDAQ:GLBR). Trading volumes are down at FXCM. The company has large financial obligations to Leucadia National Corp (NYSE:LUK) and to its convertible bond holders, who may be able to force the company into an event of…
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Well, Drew Niv is finally out the door. Global Brokerage Inc (NASDAQ:GLBR), formerly FXCM Inc. and parent of operating company FXCM Group LLC has issued a filing stating that Ken Grossman will replace Drew Niv as CEO of the publicly traded company. Mr. Niv remained on as interim CEO of GLBR even after resigning his positions…
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FXCM Group LLC, the operating company now running the FXCM retail forex brand, has announced that it has named Brendan Callan as its CEO. Mr. Callan was named interim CEO of FXCM back in February, following the abrupt resignation of FXCM co-founder Drew Niv from the operations of FXCM globally, after Mr. Niv (and FXCM) were…
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Does this portend a departure of Drew Niv from FXCM altogether?
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