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FXCM closes FastMatch sale, gets $46.7 million to pay Leucadia

Posted: Sat Aug 19, 2017 10:27 pm
by mlawson71
FXCM Group, the two remaining forex, CFD and spread betting units of Global Brokerage, announced it has finalized the sale of its stake in FastMatch to Euronext. The deal received all necessary regulatory and anti-trust approvals.

According to the announcement, FXCM got $46.7 million in cash, with $8.7 million held in escrow subject to certain potential future adjustments. The proceeds from the sale were used to repay debt owed to Leucadia, with $66.8 million outstanding.

Re: FXCM closes FastMatch sale, gets $46.7 million to pay Leucadia

Posted: Wed Aug 23, 2017 4:17 pm
by LazarR
that was a significant deal. However, FXCM is still a regulated broker that operates in EU, UK and other countries. That will definitely bring them additional income that could possibly stabilize the budget

Re: FXCM closes FastMatch sale, gets $46.7 million to pay Leucadia

Posted: Tue Oct 03, 2017 11:24 pm
by mlawson71
FXCM Group, the two remaining forex, CFD and spread betting units of Global Brokerage, announced it is terminating the Management agreement with Global Brokerage Holdings, LLC (GLBR).
According to FXCM’s statement, the termination was mutually agreed by the parties and reflects the continuing separation of FXCM from Global Brokerage.