FXCM Inc has decided to change its listing venue to join growth oriented tech companies on NASDAQ.
Globally oriented online foreign Exchange and CFDs brokerage FXCM Inc (NYSE:FXCM) has issued an announcement highlighting that the company is preparing to transfer its listing on the NASDAQ. The firm became listed on the New York Stock Exchange (NYSE) back in December 2010, raising $211 million.
The official announcement made by FXCM Inc (NYSE:FXCM) states that the last day of trading on the NYSE will be the 23rd of September. The next trading day for global markets is Monday the 26th of September, which will see the listing of the company’s shares on NASDAQ.
Commenting on the announcement, the CEO of FXCM, Drew Niv, stated: “At this time we feel moving our shares to NASDAQ is the right decision for our business. We recognize all that the New York Stock Exchange has done for us over the last few years, and we look forward to our shares trading on NASDAQ.”
The move comes in the aftermath of a difficult period for FXCM after the company's market cap has dropped to just over $50 million in light of the bailout agreement which the brokerage had to sign with Leucadia National in the aftermath of the Swiss National Bank-induced crisis on the foreign exchange market in January 2015.
Reasoning for the Move
While FXCM Inc has not elaborated on the main reasons for the listing of the company’s shares on NASDAQ, there are several benefits for the company in doing so. First and foremost, the costs associated with the company’s trading on the NYSE are substantially higher when compared to NASDAQ.
The annual fee for companies listed on NASDAQ is about $27,500, which contrasts with the NYSE. The main reasons for the decreased costs associated with NASDAQ is due to the electronic exchange structure of the most popular market for technology companies.
NASDAQ listed companies are usually closely associated with the high-tech sector and are typically growth oriented and more volatile. In contrast, the NYSE is typically associated with more established companies whose market value on a daily basis fluctuates less.
There are also substantial differences in the ways that NASDAQ and NYSE listed securities are traded. NASDAQ is a dealer’s market where different counterparts to a trade are connected via a market maker. The NYSE is an auction market, where traders are usually transacting with one another looking to match their orders via an auction process.
Globally oriented online foreign Exchange and CFDs brokerage FXCM Inc (NYSE:FXCM) has issued an announcement highlighting that the company is preparing to transfer its listing on the NASDAQ. The firm became listed on the New York Stock Exchange (NYSE) back in December 2010, raising $211 million.
The official announcement made by FXCM Inc (NYSE:FXCM) states that the last day of trading on the NYSE will be the 23rd of September. The next trading day for global markets is Monday the 26th of September, which will see the listing of the company’s shares on NASDAQ.
Commenting on the announcement, the CEO of FXCM, Drew Niv, stated: “At this time we feel moving our shares to NASDAQ is the right decision for our business. We recognize all that the New York Stock Exchange has done for us over the last few years, and we look forward to our shares trading on NASDAQ.”
The move comes in the aftermath of a difficult period for FXCM after the company's market cap has dropped to just over $50 million in light of the bailout agreement which the brokerage had to sign with Leucadia National in the aftermath of the Swiss National Bank-induced crisis on the foreign exchange market in January 2015.
Reasoning for the Move
While FXCM Inc has not elaborated on the main reasons for the listing of the company’s shares on NASDAQ, there are several benefits for the company in doing so. First and foremost, the costs associated with the company’s trading on the NYSE are substantially higher when compared to NASDAQ.
The annual fee for companies listed on NASDAQ is about $27,500, which contrasts with the NYSE. The main reasons for the decreased costs associated with NASDAQ is due to the electronic exchange structure of the most popular market for technology companies.
NASDAQ listed companies are usually closely associated with the high-tech sector and are typically growth oriented and more volatile. In contrast, the NYSE is typically associated with more established companies whose market value on a daily basis fluctuates less.
There are also substantial differences in the ways that NASDAQ and NYSE listed securities are traded. NASDAQ is a dealer’s market where different counterparts to a trade are connected via a market maker. The NYSE is an auction market, where traders are usually transacting with one another looking to match their orders via an auction process.
Interactive Brokers Extends US Treasury Bond Trading Time to 22 Hours
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
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The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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