FXCM Details its Expected Savings from Leaving the US Retail Forex Market

FXCM Inc. (NASDAQ:FXCM) has sent its shareholders additional information regarding the costs associated with its US retail foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term activities, which it has agreed to sell to GAIN Capital Holdings, Inc. (GAIN).

To unlock the Asian market, register now to the iFX EXPO in Hong Kong. [gptAdvertisement]

The note to investors explains again that none of FXCM's costs will be transferred to GAIN and adds that FXCM expects significant cost savings from the winding down of its US retail foreign exchange operations.

The table below provides information on net revenues, net income, and Adjusted EBITDA(1) for FXCM's US subsidiary, Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Capital Markets LLC, and the rest of its continuing operations for the nine months ended September 30, 2016 (unaudited):

FXCM is attempting to reassure its investors that even without its US customers, it remains one of the largest global retail foreign exchange brokers. The firm now says that it anticipates that an increased focus on serving its international global customer base will drive growth and continued profitability improvement.

We previously reported that withdrawing from the retail US business will free approximately $52 million in capital for FXCM, according to an SEC regulatory filing. Moreover, FXCM intends to implement a restructuring plan that includes the termination of approximately 150 employees, or about 18% of its global workforce.