Quick update on FXCM Inc (NYSE:FXCM) as we head toward the US stock market open in just a few minutes. FXCM shares have been trading fairly actively in the premarket this morning US time. Early indications were that FXCM would open in the $2.50-$3.00 range. However FXCM's share price has continued to slide as we head…
Read moreLeapRate Exclusive... LeapRate has learned that some retail forex brokers are now going about the (very difficult) process of trying to get their clients to repay negative client balances. A lot of retail forex traders (which were short the Swiss Franc) lost on paper more than their money on deposit. A lot more. For example, a…
Read morePre-market indications are that FXCM will start off at somewhere in the $2.50-3.00 per share range.
Read moreThe investment structure is somewhat complicated, but essentially Leucadia will get about half of the sale proceeds (or more) of FXCM beyond the $300 million it lent the company. And it can force a sale after three years.
Read moreTalks still ongoing for a capital injection or takeover at Alpari UK, likely to be concluded tonight. FXCM: We are definitely not buying Alpari.
Read moreLeucadia National Corp. (NYSE:LUK), the New York-based financial conglomerate, will provide $300m in financing to FXCM Inc (NYSE:FXCM), the retail FX giant, allowing it to stay afloat and keep operations. The investment is done in the form of a $300 million senior secured term loan with a two-year maturity and an initial coupon of 10%.…
Read moreAccording to a report by Bloomberg, quoting people with knowledge of the matter, Jefferies Group has entered discussions with FXCM Inc. (NYSE:FXCM) to provide the retail FX broker with $200 million in cash assistance. As LeapRate reported earlier, the US retail FX giant has suffered a $225 million hit due to the adverse trading of…
Read moreA quick note from the New York Stock Exchange where US retail FX giant FXCM (NYSE:FXCM) is listed. Trading in shares of the company was halted about an hour ago pending a news announcement. Shares in the FX broker were down as much as 88% after the press release stating the $225 million hit the…
Read moreThis isn't a good sign. Shares of retail forex broker FXCM Inc (NYSE:FXCM) are trading in the Friday premarket at below $2 per share, about 85% off their closing price of $12.63 on Thursday. As at the time of writing FXCM's premarket price is sitting at about $1.90. The message is clear - traders do not…
Read moreThursday's results? FXCM down 15%, Gain Capital down -8%, IG Group off 4%, Plus500 down 4%, Swissquote down 4%
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