Juan Cafe’s appointment at FXCM UK Merger Limited happens about four months after he became a director at Lucid Markets Trading Limited.
There has been another appointment at FXCM UK Merger Limited, with Juan Cafe joining the company as Director. According to a document, filed with the UK Companies House on Monday, the appointment of Mr Cafe is effective July 7, 2017. This means that he joined the company on the same day as Michael Grant, who has been named Compliance Director at FXCM UK Merger Limited.
According to the profile of the company on UK Companies House, Mr Cafe’s current occupation is Chief Operating Officer.
The simultaneous appointment of Mr Cafe and Mr Grant at FXCM UK Merger Limited happens about four months after the duo joined the director ranks of Lucid Markets Trading Limited. Back in March, their appointments followed the departure of Drew Niv and William Ahdout from the company. About a month later, Mr Niv left his director role at FXCM UK Merger Limited too.
What is the business function of FXCM UK Merger Limited? Its principal activity is that of a holding company and its main asset is its investment in Lucid Markets Trading Limited. The latter is, in its turn, a person with significant control in Lucid Markets LLP, one of the institutional businesses that FXCM has been seeking to sell, as it is under pressure to raise cash to repay the loan to Leucadia.
Thus far, there have been no announcements as to a particular buyer (or bidder) for Lucid Markets. FXCM has, however, managed to sell its stake in FastMatch, with the sum the broker is set to receive from the deal with Euronext put at $55.6 million.
FXCM is facing more troubles in the US, as Global Brokerage Inc (NASDAQ:GLBR), formerly known as FXCM Inc, is having hard time remaining listed on NASDAQ. The company is worried that an eventual delisting may lead to a risk of default.