Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

FXall IPO Now To Be Entirely Selling Shareholders

|Includes:BGCP, FXCM Inc. (FXCM), GCAP, IAPLF, IAPLY, IGGRY, KCG, STT, SWQGF

FXall also reported falling volumes in Q4;
pays $63 million pre-IPO dividend.

FXalllogoForex ECN FXall (or formally, FX Alliance Inc.) today refreshed its registration statement / prospectus with the U.S. Securities and Exchange Commission (or "SEC"), in preparation for going public.

So what has changed from the previous document, filed in late December? Apparently FXall has changed its mind, and now does not plan to receive any of the proceeds from the offering. As now reconstituted, the IPO will consist entirely of selling shareholders. FXall's major shareholders include venture capital firm TCV (Technology Crossover Ventures) with a 28% stake, CEO Philip Weisberg with 7%, and a group of banks each holding 5% including BofA, BNP Paribas, Citigroup, Credit Agricole, Credit Suisse, Goldman Sachs, HSBC, Morgan Stanley, and The Royal Bank of Scotland.

For more details see LeapRate's Forex Industry News at leaprate.com.

Get the_LeapRate-DJ_FIR_today_ad_bb