FXCM Inc (NYSE:FXCM) has today announced that it has completed its sale of FXCM Securities Limited to European private banking institution AS Expobank.
This is a non-material disposition of one of FXCM’s non-core assets. At this time the purchase price has not been disclosed.
FXCM Securities was FXCM’s brokerage specializing in exchange traded equities, futures, and options, which was acquired back in 2010 with FXCM’s acquisition of ODL Group Limited.
Only 10 months have passed since FXCM took funding from Leucadia following its exposure to negative client balances as a result of the Swiss National Bank’s decision to remove the 1.20 peg on the EURCHF pair.
FinanceFeeds is confident that FXCM’s commercial position which stands exactly as it did before the Swiss National Bank’s decision, will remain in good standing and that the company’s loan will be paid down well in advance of its expiry date.
Featured photograph: FXCM head office, New York. Photography by Andrew Saks-McLeod
