FXCM says that any adverse developments at GLBR have no impact on the firm or its ability to service customers.
FXCM Group seems keen to protect its brand after the stock of its parent, Global Brokerage Inc (NASDAQ:GLBR), tumbled to a new record low earlier last week, and also after GLBR reiterated the possibly heavy consequences of the eventual delisting from the Nasdaq Stock Market due to the low market value of the firm.
FXCM today issued a corporate statement to clarify its relationship to Global Brokerage and also clarified some already known details about paying off its loan to Leucadia (NYSE:LUK).
[gptAdvertisement]
The company received $46.7 million for its stake in FastMatch last week, which now leaves $66.8 million outstanding on its original Leucadia loan from a couple years ago.
Back to the statement, FXCM said that Leucadia currently holds a 49.9% equity interest and up to a 65% economic interest in FXCM. In addition, GLBR is a shareholder of FXCM with 50.1% equity ownership and a minority economic interest.
The most interesting point was FXCM claiming that any adverse developments at GLBR have no impact on the FX brokerage firm or its ability to service customers. More specifically, FXCM said that it has no responsibility for GLBR’s obligation and that its only debt is the loan to Leucadia, which it has recently taken one step closer to repaying with the sale of FastMatch.
Jimmy Hallac, Managing Director of Leucadia and Chairman of FXCM Group, commented: “Leucadia continues to work hand in hand with FXCM management. We are optimistic about what we can achieve together and re-affirm our long-term commitment. FXCM has had solid operating performance in a challenging market environment and has come a long way in reducing its debt and strengthening its balance sheet. Customers should feel confident trading with FXCM as their FX and CFD provider.”
Brendan Callan, Chief Executive Officer of FXCM Group, added: “FXCM is grateful for its partnership with Leucadia. Our customers, employees and stakeholders benefit greatly from the Leucadia affiliation, in particular our growing collaborative relationship with Jefferies.”
FXCM Group seems keen to protect its brand after the stock of its parent, Global Brokerage Inc (NASDAQ:GLBR), tumbled to a new record low earlier last week, and also after GLBR reiterated the possibly heavy consequences of the eventual delisting from the Nasdaq Stock Market due to the low market value of the firm.
FXCM today issued a corporate statement to clarify its relationship to Global Brokerage and also clarified some already known details about paying off its loan to Leucadia (NYSE:LUK).
[gptAdvertisement]
The company received $46.7 million for its stake in FastMatch last week, which now leaves $66.8 million outstanding on its original Leucadia loan from a couple years ago.
Back to the statement, FXCM said that Leucadia currently holds a 49.9% equity interest and up to a 65% economic interest in FXCM. In addition, GLBR is a shareholder of FXCM with 50.1% equity ownership and a minority economic interest.
The most interesting point was FXCM claiming that any adverse developments at GLBR have no impact on the FX brokerage firm or its ability to service customers. More specifically, FXCM said that it has no responsibility for GLBR’s obligation and that its only debt is the loan to Leucadia, which it has recently taken one step closer to repaying with the sale of FastMatch.
Jimmy Hallac, Managing Director of Leucadia and Chairman of FXCM Group, commented: “Leucadia continues to work hand in hand with FXCM management. We are optimistic about what we can achieve together and re-affirm our long-term commitment. FXCM has had solid operating performance in a challenging market environment and has come a long way in reducing its debt and strengthening its balance sheet. Customers should feel confident trading with FXCM as their FX and CFD provider.”
Brendan Callan, Chief Executive Officer of FXCM Group, added: “FXCM is grateful for its partnership with Leucadia. Our customers, employees and stakeholders benefit greatly from the Leucadia affiliation, in particular our growing collaborative relationship with Jefferies.”
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!