FXCM registers $125 million of shares to be sold on continuous basis to the public

FXCM may offer from time to time up to an aggregate of $125,000,000 of any combination of Class A common stock, preferred stock, debt securities, depositary shares, purchase contracts, warrants or units, in one or more offerings.

fxcm

North American electronic trading giant FXCM has been experiencing some remarkable customer loyalty and confidence recently, especially within its newly revitalized institutional business.

uring the second quarter of 2016, the company experienced a trading volume within its institutional sector of $182 billion which is 6% higher than the first quarter of the year, and a remarkable 70% higher than that of the second quarter of last year.

Indeed, as the firm continues to maintain its corporate operations in a very integrated and highly professional manner considering that only a year and a half has passed since the Swiss National Bank removed the 1.20 peg on the EURCHF pair which exposed many firms to negative client balances, including FXCM which became liable for almost $260 million within a matter of minutes on January 15 last year.

FinanceFeeds maintains, having spoken at great length with CEO Drew Niv at his office within FXCM’s headquarters in New York, that the way in which this situation and the ensuing months following it were handled is a testimony to Mr. Niv’s acumen as a senior industry leader, the company having maintained an even keel within every department thereafter.

Today, the firm remains one of North America’s benchmark firms, and while some material changes have been necessary in the administrative side of the firm, such as the recent reverse stock split which remedied the share price having dipped below a dollar, the corporate structure remains identical to that pre-SNB event.

The latest issue to this effect is the registration by FXCM of class A common stock at a cost of $0.01 per share to the value of $125 million

North American electronic trading giant FXCM has been experiencing some remarkable customer loyalty and confidence recently, especially within its newly revitalized institutional business.

uring the second quarter of 2016, the company experienced a trading volume within its institutional sector of $182 billion which is 6% higher than the first quarter of the year, and a remarkable 70% higher than that of the second quarter of last year.

Indeed, as the firm continues to maintain its corporate operations in a very integrated and highly professional manner considering that only a year and a half has passed since the Swiss National Bank removed the 1.20 peg on the EURCHF pair which exposed many firms to negative client balances, including FXCM which became liable for almost $260 million within a matter of minutes on January 15 last year.

FinanceFeeds maintains, having spoken at great length with CEO Drew Niv at his office within FXCM’s headquarters in New York, that the way in which this situation and the ensuing months following it were handled is a testimony to Mr. Niv’s acumen as a senior industry leader, the company having maintained an even keel within every department thereafter.

Today, the firm remains one of North America’s benchmark firms, and while some material changes have been necessary in the administrative side of the firm, such as the recent reverse stock split which remedied the share price having dipped below a dollar, the corporate structure remains identical to that pre-SNB event.

The latest issue to this effect is the registration by FXCM of class A common stock at a value of $0.01 per share to the value of $125 million which will be sold to the general public.

In this case, FXCM is offering the stock for sale to the public on a continuous basis, with the date of commencement of the proposed sale to the public (shareholders) of the common stock being not specified, but rather being administered from time to time after the effective date of the registration which was July 12, 2016.

FXCM stated that it may offer from time to time up to an aggregate of $125,000,000 of any combination of Class A common stock, preferred stock, debt securities, depositary shares, purchase contracts, warrants or units, in one or more offerings.

This registration of shares also covers any additional shares of FXCM’s securities that become issuable by reason of any stock split, stock dividends, recapitalization, or other similar transactions.

At the end of September 2015, as a result of the company’s reverse stock split that was invoked earlier that same month, the number of outstanding shares of FXCM’s common stock was reduced from approximately 53,726,664 shares to approximately 5,372,666 shares.

The last reported sale price of the shares of FXCM Class A common stock on the New York Stock Exchange on July 11, 2016, was $9.28 per share.

Photograph copyright FinanceFeeds

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