The press is full with the reports that the expected FXCM’s IPO should take place either today or tomorrow (Thursday). Whatever is the case we will be looking forward to seeing how this folds out as this IPO is a very important boost for our less than transparent industry.
SAN FRANCISCO (MarketWatch) — FXCM Inc. is expected to raise up to $226.7 million in the only scheduled initial public offering this week.
With the IPO, FXCM is set to become the first publicly traded retail foreign-exchange platform. Competitors include privately held FX Solutions LLC, Gain Capital Holdings Inc. and Global Forex Trading.
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Bieng publicly traded could boost potential traders’ confidence in the exchange’s legitimacy, according to Sang Lee, a researcher at Aite Group. “As firms become public and are willing to share more information about their company and what they’re seeing in the market, it can only help the overall market,” Sang said.
FXCM Inc.’s (FXCM) $211 million IPO with a market cap of $1 billion at a price range mid-point of $14 is scheduled for Thursday, December 1, 2010.
FXCM is reasonably priced at a P/E discount to both online brokers including OptionsXpress (OXPS), Interactive Brokers (IBKR), Charles Schwab (SCHW), TD Ameritrade (AMTD) and E trade (ETFC) and to exchanges & trading platforms including IntercontinentalExchng (ICE), CME Group (CME), CBOE Holdings (CBOE) and MarketAxess (MKTX).