Breaking: FXCM in Fire Sale Talks with Potential Buyers

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 Magnates has learned that the recently beleaguered FXCM is in talks with several private equity funds, as well as cash-rich brokers to complete either a partial or full asset sale or raise between $100-200 million by as early as Monday.

FXCM has incurred $225 million in losses as well as a debilitating share crash, which prompted rumors to swirl as to its fallout. One of the players FXCM has been rumored to talk to was ADS Securities, a cash-rich broker based out of Abu Dhabi who could provide a solution or outright exit strategy.

Alternatively, another name that is being tossed around is Jefferies, who could be looking for a purchase of FXCM in the neighborhood of $200 million. The details of a potential deal appear to be imminent and are expected to be concluded as early as Monday.

In another turn, FXCM has just had a review opened up against it by the US CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term following a crash of 88.2% and suspension of trading Friday that saw its shareprice tumble to $1.42.