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FXCM Once Again Underpays For An Acquisition

|Includes:KCG Holdings, Inc. (KCG), KEY, LYG, MCQEF, MNXBF, MNXBY, MS, MSFT, MTU, NTRS, OXPS, PNC, PNSN, RBS, RJF, RY, SAN, SCGLY, SCHW, STT, SWQGF, TD, TRAD, TRI, UBS, USB, WFC

Institutional FX market maker Lucid bought at below average multiples.

FXCM logoLeading retail FX brokerage FXCM (a member of LeapRate's Approved List of global Forex firms) announced its fourth acquisition over the past two years (see table below), this time buying (50% of) UK-based Lucid Markets, an FX market maker for the institutional market. Lucid is just three years old, yet brought in revenues of $149 million and earned EBITDA of $113 million in 2011 - more than FXCM itself earned ($112 million) in 2011!

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

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