FX Solutions downsizes in US due to synergies with parent City Index

FX Solutions lately somewhat downsized its staff in the US and several rumours around this were circulating the market. In order to understand the situation better I spoke with Michael Cairns, FX Solutions' CEO, who confirmed that the only reason for the recent layoffs is to cut down on duplicate positions between FX Sol and its parent City Index Group.

This is what Michael had to say: “FX Solutions remains fully committed to the US market and, indeed, to all the core markets in which we operate. As an integral part of the City Index Group of Companies, we have understandably been leveraging the synergies available to us with regard to both staffing and technology. The ultimate goal, as always, is to create efficiency and increase Scalability . Our business is strong and we continue to focus on providing all of our clients with the optimal trading experience, encompassing robust technology, accurate pricing and exceptional client support. Nothing has changed.”