FXCM brokerage business and associated entities NOT changing name: Full clarification

North American electronic trading giant FXCM Inc (NYSE:FXCM) entered into a memorandum of understanding (MOU) with Leucadia as last week drew to a close, solidifying Leucadia’s role as a long-term commercial partner.

With the announcement came a public statement that the FXCM Inc was set to change its name and ticker symbol under which it is recognized as a publicly listed entity on the New York Stock Exchange. Currently the firm’s holdings company is listed as FXCM Inc (NYSE:FXCM) however this refers to the holdings company under which FXCM, and all its entities are owned.

A material change such as a complete renaming of such a prominent, publicly listed electronic trading company would ordinarily be very much a matter for mainstream news and is of great interest to investors or shareholders, as well as customers and partners, as it would be an unusual step for a highly established industry leader to take.

FinanceFeeds has investigated this matter at senior executive level within FXCM, and can confirm that the anticipated name change only applies to FXCM Inc and its aforementioned ticker symbol, and not the brokerage business or any associated entities, all of which will remain exactly as they are now, under the name of FXCM.

FXCM’s senior management explained yesterday in a conversation with FinanceFeeds CEO Andrew Saks-McLeod

“The public company will change its name and ticker symbol as we announced this in the press release which included full details of our restructure with Leucadia, however FXCM the broker will not change its name at all. We will still remain FXCM within all of our entities.”

Business as usual, as they say…

Photograph at FXCM, Manhattan, New York. Copyright FinanceFeeds.