GCM Prime Kicks Off with 2016 Revenues of £1.5m, Committed to Organic Growth

London-based prime of prime brokerage GCM Prime filed its annual accounts for the 9 months ending December 31st 2016. The company is headed by longtime FXCM executive Adam Toro and actively started operations only last year. GCM Prime’s business model is based on Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term only, yielding the company £1.5 million of revenue between April and December last year.

The company posted a gross profit of £171,514, with an operating loss of £227,174. The firm raised additional capital last year, totaling over £4.2 million, with the total share capital of the company as of the end of last year amounting to £7.27 million. The figure is more than double the previous amount reported at the end of March 2016. Net assets of GCM Prime amount to £4.8 million as of the end of 2016.

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Throughout the year, the former directors of the company Salvatore Buccellato and Glenn Ward left the company’s board in September and June respectively. The recent bankruptcy of Gallant Capital Markets prompted the company to clarify that it doesn't share a similar management structure with the BVI-regulated broker, where Buccellato is a senior executive.

Back in September last year, GCM Prime acquired the institutional client book of CMS UK. The book was primarily composed of brokerage companies. According to the official annual report, the bulk of the company’s business is driven by organic growth.

The board of GCM Prime outlined in its strategic report: “The company has a place to increase the number of clients and volumes traded to generate increased turnover and profits for the next 2 years. Its long term strategy is to concentrate on 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 of large volume trading clients.”