LeapRate Exclusive... LeapRate has learned via regulatory filings that Leucadia National Corp. (NYSE:LUK) is planning a take a charge to earnings in the neighborhood of $450-500 million when it reports its fourth quarter 2017 results. The culprit? The newly-passed US Tax Cuts and Jobs Act. On December 22, 2017, the Tax Cuts and Jobs Act was…
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Shares of Global Brokerage Inc (NASDAQ:GLBR) continued their slide into oblivion late last week, with GLBR down another 30% on Friday after US trading continued following the one day Thanksgiving break. After initially barely reacting following the announced plans of the company two weeks ago to reorganize under Chapter 11, Global Brokerage – which owns 50% of…
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Finally acting somewhat like a company which has filed for a Chapter 11 reorganization, shares of Global Brokerage Inc (NASDAQ:GLBR) slipped by 10% on Tuesday closing at an all time low of 95 cents. GLBR shares are now down 27% from when the Chapter 11 plan was released a week and a half ago. We'd…
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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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Global Brokerage Inc (NASDAQ:GLBR), which owns 50% of Retail FX broker FXCM Group, has filed its third quarter results with U.S. regulatory authorities indicating that it (as well as FXCM) saw Revenues decline by 11% from the second quarter, $44.0 million in Q3 versus $49.4 million in Q2. The company(ies) reported a Q3 net operating…
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Following the close of equity markets in the US on Friday afternoon, Global Brokerage Inc (NASDAQ:GLBR), formerly known as FXCM Inc, announced that it will be filing for "Chapter 11" protection under the United States Bankruptcy Code, as part of a planned reorganization of the company. Global Brokerage's main asset is its 50.1% holding in FXCM…
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It was quite the week in Forex Industry News at LeapRate. Forex broker results, new shareholder in a major FX broker, and a serious order latency issue at Deutsche Boerse unit Eurex unveiled only at LeapRate. Which Retail FX broker saw most of its independent directors resign, while posting a loss? Which FCA regulated FX…
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Retail FX broker FXCM Group LLC has put out an interesting press release (see text below), stating that it has agreed to terminate its Management Agreement with parent company Global Brokerage Inc (NASDAQ:GLBR). FXCM and GLBR became effectively separated when Leucadia National Corp (NYSE:LUK) took a direct equity stake in FXCM last year, and the two appointed…
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While the online trading industry was taking somewhat of an end-of-summer breather with less press releases, deals, executive hires and the like, there was still plenty of Forex Industry News to report. How is internal party politics delaying Israel's new Binary Options ban legislation from being actually implemented? Why is Forex.com parent Gain Capital Holdings Inc…
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Shares of Global Brokerage Inc (NASDAQ:GLBR), which owns 51% of Retail FX broker FXCM, continued to move downward on Wednesday tumbling by a whopping 26% on continued speculation that the company is going to have a hard time dealing with its latest crisis. That crisis is the possible delisting of GLBR shares from Nasdaq, if…
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