Financial M&A » By The Online Investor Staff, updated Tue., Jun. 22, 7:53 PM
Recent mergers and acquisitions in the Financial M&A category.
| This Slide: #12 of 100 |
Slide #12. FXCM — U.S. Retail Forex Accounts of FXDD
Acquirer:
FXCM (FXCM)
Acquiree:
U.S. Retail Forex Accounts of FXDD
Details:
FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange trading and related services worldwide, today announced that its U.S. subsidiary, Forex Capital Markets LLC ("FXCM U.S."), has signed a definitive agreement with FXDirectDealer LLC ("FXDD") to acquire their U.S. retail forex accounts ("FXDD U.S. Accounts").
FXCM is a holding company. Through its membership interest in FXCM Holding, LLC, Co. is an online provider of foreign exchange (FX) trading and related services to retail and institutional customers. Co.'s primary offering to retail customers is an agency execution or an agency model. Under the agency model, when a customer executes a trade on the price quotation provided by the FX market maker, Co. acts as a credit intermediary, or a riskless principal, simultaneously entering into a trade with the customer and the FX market maker. Co. also provides its customers the ability to trade contract for differences and spread betting through U.K. subsidiaries.
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