LeapRate has learned that seasoned Retail Forex industry executive Tal Zohar has left IG Group Holdings plc (LON:IGG) for a new position as Head of Elite Connect and a member of the Senior Management Team at the London Stock Exchange Group Plc (LON:LSE). ELITE is the LSE's investor relation portal and education center. Its mission is…
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Mergers and Acquisitions activity led Forex Industry News this past week, on both the retail and institutional sides of the sector. The key deals - Euronext NV (EPA:ENX) buying FastMatch and ThinkMarkets acquiring Trade Interceptor - highlighted two of the key FX industry trends we've reported a lot on of late: consolidation, and the growing importance…
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Well, it looks like FXCM will have some more money to pay back its loan from Leucadia. Pan European exchange group Euronext NV (EPA:ENX) has announced that it has reached an agreement to acquire 90% of Forex ECN FastMatch for $153 million in cash, plus a $10 million contingent earn-out. The remaining 10% of FastMatch…
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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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LeapRate Exclusive... LeapRate has learned via regulatory filings that the FCA regulated UK arm of retail forex broker FXCM, Forex Capital Markets Limited, does not expect regulatory action to be taken against the company, similar to what happened in the US. In the US, of course, FXCM and its then-CEO Drew Niv were fined $7…
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Retail forex broker FXCM Group LLC has announced that its trading volumes fell by 22% during April, to $176 billion. The fall in volumes at FXCM, after a fairly strong March, were fairly in line with the volume decline we have seen in April from several other leading retail FX brokers. The results of course…
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Global Brokerage Inc (NASDAQ:GLBR), parent company of retail forex broker FXCM, released its Q1 results indicating - as expected - a significant decrease in activity, in large part due to the sale of the company's US clients to Gain Capital Holdings Inc (NYSE:GCAP). The company's operating loss of $24.2 million and net loss of $29.9 million…
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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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LeapRate Exclusive Interview... It would be an understatement to offer that the Q1 results recently announced by Forex brokerage house Gain Capital Holdings Inc (NYSE:GCAP) were disappointing. Revenues were down nearly 50% from the previous quarter. Revenues from retail clients were down 60%. The company posted a $19 million loss. Was this a one-time anomaly, or…
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