According to an announcement made by FXCM, the company will remain focused on delivering institutional grade services despite the prospective sale of its stake in FastMatch and Lucid. As the company has announced that it will be refocusing on its core business, the sale of the institutional units of FXCM Inc are imminent.
While FXCM Pro will be focusing on the company’s wholesale business, FXCM Prime will cater to customers interested in high frequency trading (HFT).
The firm emphasized that FXCM Pro will continue offering services to retail brokers, small hedge funds and emerging market banks. In recent efforts, FXCM doubled the size of its broker services desk, which is supporting all retail broker inquiries.
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Commenting on the announcement, the company’s Global Head of Institutional Sales, Brandon Mulvihill, said, “With the pending disposition of institutional non-core assets, we are now purely focused on mobilizing more resources to our wholesale business, where we have seen tremendous success.”
In 2014 the FXCM Pro business line produced approximately $1 trillion in trading volumes.
“In 2014 this business line produced approximately $1 trillion in trading volumes and proved post January 15th to be among the most resilient institutional clientele at FXCM,” Mr. Mulvihill concluded.
FXCM Prime is currently providing centralized clearing across a number of execution venues, including single banks. According to the announcement the unit’s clients currently account for about $2 billion per day. FXCM Prime comes along with pre-trade and post-trade risk monitoring at a time when alternative credit solutions are quite necessary to the market.