Breaking: GCM Prime Disassociates Firm from Gallant Capital Markets

Late last week, foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term trading brokerage Gallant Capital Markets also known as GCMFX announced that the company is filing for bankruptcy protection. Apparently the name of the company has confused some industry participants. The FX market's rumor mill associated UK FCA regulated GCM Prime with the New York Bankruptcy Bankruptcy Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Read this Term court case.

The CEO of UK FCA regulated firm, GCM Prime, Adam Toro has just sent an email to clients, to dispel those rumors.

The letter to the clients of GCM Prime outlines that “certain misinformation and conjecture about our firm has emerged”. Customers of the FCA regulated firm that last year acquired the institutional clients book of CapMarFX, or Capital Market Services, have been reassured.

“GCM Prime is an independent FCA regulated company. Gallant Capital Markets, an FSC registered company, voluntarily filed for Chapter 11 reorganization and has no effect on GCM Prime. GCM Prime was not acquired by Gallant nor does it share a similar management structure.

The company’s statement proceeds with a declaration that client funds are segregated. Last year GCM Prime solidified its balance sheet via shareholder capital injections. The brokerage is outlining that the firm has shown improved financial performance in 2016 and will be releasing its financial results in the coming weeks.