Breaking: FXCM in Fire Sale Talks with Potential Buyers
Forex Magnates has learned that FXCM is in talks with several private equity funds, as well as cash- rich brokers
Forex Magnates has learned that the recently beleaguered FXCM is in talks with several private equity funds, as well as cash-rich brokers to complete either a partial or full asset sale or raise between $100-200 million by as early as Monday.
FXCM has incurred $225 million in losses as well as a debilitating share crash, which prompted rumors to swirl as to its fallout. One of the players FXCM has been rumored to talk to was ADS Securities, a cash-rich broker based out of Abu Dhabi who could provide a solution or outright exit strategy.
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Alternatively, another name that is being tossed around is Jefferies, who could be looking for a purchase of FXCM in the neighborhood of $200 million. The details of a potential deal appear to be imminent and are expected to be concluded as early as Monday.
In another turn, FXCM has just had a review opened up against it by the US CFTC following a crash of 88.2% and suspension of trading Friday that saw its shareprice tumble to $1.42.
I wont pay more than $50 mill.
Too frothy Shaun…divide by 10
Vultures like IG Markets, Tickmill, Jeffreys are already out. Massive consolidation ahead in FX industry.
leucadia saves the day.
Hi Jon, Well now we saw the IRS take a stand on taxing it as property! I wouldn’t be surprised though if the SEC/CFTC come out with some interpretation on how they could regulate it with regards to digital currency related investments offered by their registrants or FINRA/NFA members.
Hi Jon, Well now we saw the IRS take a stand on taxing it as property! I wouldn’t be surprised though if the SEC/CFTC come out with some interpretation on how they could regulate it with regards to digital currency related investments offered by their registrants or FINRA/NFA members.
R.I.P.
FXCM
1999-2015
My my, how the mighty have fallen.
@Romi: IG and Jeffreys I know. But who the hell is the one in between those, and why is he there? 🙂
@ ForexMagnates: On a serious note, please do make an article of who of the brokers will be chasing the clients now to collect the negative balances. That will be very interesting.
@Dennis: But they have survived, no? At least they live another day.