GAIN Capital Completes Sale of GTX ECN Business

Maria Nikolova

Proceeds will be used to accelerate growth in leading retail trading business, while continuing to return cash to shareholders.

GAIN Capital Holdings, Inc. (NYSE: GCAP), a leading global provider of online trading services, announced today that it completed the previously announced sale of the Company’s GTX ECN business to Deutsche Börse Group via its FX unit, 360T for a total purchase price of $100 million. In connection with the closing, the Company received approximately $85 million, net of taxes and transaction-related expenses and fees.

“The sale of GTX marks a pivotal moment for GAIN by allowing us to focus additional attention and resources on the core retail business and setting us on a trajectory for enhanced growth and profitability,” commented Glenn Stevens, Chief Executive Officer of GAIN Capital.

“In addition to investing in organic growth, the proceeds provide us with increased financial flexibility to pursue M&A opportunities that will accelerate our growth strategy, return capital to shareholders via our stock repurchase program, and reduce our debt. We thank Deutche Borse and its 360T Unit for their partnership during and after this transaction closes.”

Jefferies LLC served as exclusive financial advisor and Davis Polk & Wardwell LLP served as legal advisor to GAIN Capital.

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