Gain Capital Agrees To Acquire Client Base Of FXCM’s U.S. Operations
Following the penalty imposed to FXCM by U.S. regulator CFTC and the announcement by FXCM for exit the U.S market, GAIN Capital Holdings, Inc. (NYSE: GCAP) (“GAIN” or “the Company”), a global provider of online trading services, announced that it has entered into a definitive agreement to acquire the client base of FXCM’s U.S. operations. For the 3 months ended December 31, 2016, average daily volume from customers of FXCM’s U.S. operations was approximately $2.4 billion. Financial terms of the transaction were not disclosed.
Under the terms of the agreement, customers of FXCM’s U.S. regulated business will be transferred to GAIN Capital’s retail trading service, FOREX.com (www.forex.com). The transaction is subject to final regulatory approval. It is expected to close before the end of February.
“We are excited to welcome customers of FXCM’s U.S. operations to our award-winning FOREX.com service,” said Glenn Stevens, CEO, GAIN Capital. “They will become part of one of the largest and most well-capitalized providers of retail FX trading services globally. At GAIN Capital, we pride ourselves on our 17-year track record of protecting our clients and delivering on their FX trading needs.”
Source: Gain Capital – Gain Capital Agrees To Acquire Client Base Of FXCM’s U.S. Operations
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