FXCM UK announces departure of Jared Velez as secretary
Mr Velez leaves Forex Capital Markets Limited, FXCM UK Merger Limited and Lucid Markets Trading Limited.
Forex Capital Markets Limited, or FXCM UK, today filed an electronic document with the UK Companies House service, announcing the termination of the appointment of Jared Velez as its secretary. Although the filing is dated November 28, 2017, the termination of appointment is effective November 3, 2017.
According to other filings made today, Mr Velez is no longer secretary of FXCM UK Merger Limited and Lucid Markets Trading Limited, two other businesses of the “FXCM family”.
Early this month, FXCM UK and FXCM UK Merger Limited announced changes to their registered office address – the address was changed from Northern and Shell Building 10 Lower Thames Street 8th Floor London EC3R 6AD to Fourth Floor 20 Gresham Street London EC2V 7JE.
Lucid Markets, a UK-registered electronic market maker and trader in the institutional FX spot and futures markets, has been actively marketed for sale although no name of a possible buyer has been officially announced. The intentions of FXCM to dispose of this business were reiterated in the latest 10-Q report by Global Brokerage Inc (NASDAQ:GLBR), which revealed that the broker has disposed of certain assets of V3 Markets – another of its non-core businesses.
In August this year, FXCM sold certain intellectual property and fixed assets of V3 Markets, the report said. An unnamed buyer paid $0.3 million in cash. Also, as part of the transaction, the buyer agreed to reimburse V3 for certain liabilities and contract costs incurred by V3 for a prescribed period of time before and after closing amounting to $0.2 million. In conjunction with the sale, V3 ceased its remaining operations.
On August 14, 2017, FXCM completed the sale of its 34.0% equity interest in FastMatch to Euronext US Inc. for a cash purchase price of $59.1 million, of which $46.7 million was paid to the FXCM at closing and $8.7 million is held in escrow until one year from the date of sale, subject to certain future adjustments. In addition, FXCM is entitled to a share of a $10.0 million earn-out if certain performance targets of FastMatch are met.
