GAIN Capital Acquisition of City Index Totals $1.1 Billion Client Funds
- GAIN Capital has gained a substantial amount of client funds from City Index marking a new all time high
According to a company announcement, GAIN Capital Holdings (NYSE:GAIN) has completed the acquisition of U.K. brokerage City Index. After the conclusion of the deal, the company stated that the combined size of client deposits now totalled more than $1.1 billion, which after the recent outflows of funds deposited with FXCM (NYSE:FXCM), made it bigger than its other U.S. listed counterpart.
Annual trading volumes are expected to exceed $3 trillion. GAIN Capital Holdings’ (NYSE:GAIN) CEO Glenn Stevens commented in the announcement, “The closing of this transaction marks another major milestone in the growth of GAIN Capital and we are excited by the complementary strengths that have been brought together through this combination.”
The total price of the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term is estimated at $148 million
“The scale, scope of products and geographies served and market leading technology provided by the combined company provides us with an excellent platform for continued growth and success,” Mr. Stevens concluded.
The total price of the acquisition is estimated at $148 million, with $36 million paid in cash (reflecting about US$21 million of excess regulatory capital at City Index), 5,319,149 shares of GAIN Capital Holdings’ (NYSE:GAIN) common stock and $60 million in convertible loan notes issued by the owner of the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term.com brand.
The net purchase price paid was approximately US$77 million, reflecting US$71 million of cash on City Index’s balance sheet as of the closing date.
The latest batch of CFTC data has revealed that client assets at the firm have grown by 5% in February in the aftermath of the Swiss National Bank's decision to drop the CHF floor against the euro.
According to a company announcement, GAIN Capital Holdings (NYSE:GAIN) has completed the acquisition of U.K. brokerage City Index. After the conclusion of the deal, the company stated that the combined size of client deposits now totalled more than $1.1 billion, which after the recent outflows of funds deposited with FXCM (NYSE:FXCM), made it bigger than its other U.S. listed counterpart.
Annual trading volumes are expected to exceed $3 trillion. GAIN Capital Holdings’ (NYSE:GAIN) CEO Glenn Stevens commented in the announcement, “The closing of this transaction marks another major milestone in the growth of GAIN Capital and we are excited by the complementary strengths that have been brought together through this combination.”
The total price of the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term is estimated at $148 million
“The scale, scope of products and geographies served and market leading technology provided by the combined company provides us with an excellent platform for continued growth and success,” Mr. Stevens concluded.
The total price of the acquisition is estimated at $148 million, with $36 million paid in cash (reflecting about US$21 million of excess regulatory capital at City Index), 5,319,149 shares of GAIN Capital Holdings’ (NYSE:GAIN) common stock and $60 million in convertible loan notes issued by the owner of the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term.com brand.
The net purchase price paid was approximately US$77 million, reflecting US$71 million of cash on City Index’s balance sheet as of the closing date.
The latest batch of CFTC data has revealed that client assets at the firm have grown by 5% in February in the aftermath of the Swiss National Bank's decision to drop the CHF floor against the euro.