Lucid Markets LLP confirms Lucid Markets Trading is person with significant control

Lucid Markets LLP, one of the businesses that FXCM Group actively markets for sale, today made public a Confirmation Statement with Updates. There seems to be no apparent change on the control front, as Lucid Markets Trading Limited is confirmed as a person with significant control. Lucid Markets Trading Limited holds the right to appoint or remove a majority of the persons who are entitled to take part in the management of Lucid Markets LLP.

Also today, FXCM UK Merger Limited, whose principal activity is that of a holding company and whose main asset is its investment in Lucid Markets Trading Limited, published a Confirmation Statement with Updates.

The document says that FXCM Group LLC holds 5,684,479,300 shares in FXCM UK Merger as per the date of the confirmation statement. This is the total number of shares in FXCM UK Merger.

Global Brokerage Inc (NASDAQ:GLBR), formerly known as FXCM Inc, is confirmed as a person with significant control. It holds more than 50% and less than 75% of the shares in FXCM UK Merger and more than 50% and less than 75% of the voting rights in FXCM UK Merger.

Lucid Markets remains among the businesses in the “FXCM family”, despite the broker actively marketing Lucid and other non-core businesses for sale. In May this year, FXCM announced the sale of its stake in FastMatch to Euronext. FXCM Group has said that it will receive approximately $55.6 million for its interest in FastMatch, with a portion held in escrow and subject to certain future adjustments including a share of a $10 million earnout if certain performance targets of FastMatch are met.

The latest report from Lucid Markets shows that during 2016, it continued to provide liquidity to the Forex market but registered annual profit, excluding amortization, of $11.99 million, down 43% from $21.2 million in 2015. This reflects a 29% year-over-year drop in turnover to $26.3 million. This drop was blamed on decrease in currency volatility.