Apr. 26, 2013, 4:01 PMGain Capital Holdings (GCAP -6.6%) falls after FXCM withdraws its acquisition proposal. GCAP's acquisition of Global Futures and Forex consumed enough cash to "fundamentally impact the balance sheet and capital synergies that were an important driver of our proposal," says FXCM CEO Drew Niv. The merger would have combined two of the largest U.S.-based players in online currency trading. | Comment!
Apr. 9, 2013, 12:40 PMFXCM's (FXCM +2.3%) bid for Gain Capital (GCAP +26%) would merge two of largest U.S.-based players in online FX trading, as FXCM pushes for organic growth in an industry that has grown rapidly over the past decade but is now challenged by tighter regulation and waning profits. Retail trading currently accounts for about 6% of the $4T per day currency market, and FXCM reported earlier today that its retail and institutional volumes fell in March on both a Y/Y and M/M comparisons. | Comment!
Apr. 9, 2013, 2:07 AMFXCM (FXCM) offers to acquire fellow online forex trading platform Gain Capital Holdings (GCAP) for $210.4M in stock, with the offer of $5.35/share representing a premium of 25% on Gain's closing price of $4.27 yesterday. FXCM is also willing to include a cash option of up to $50M rather than stock. FXCM expects the deal to be accretive to earnings by next year, excluding restructuring costs. (PR) | Comment!
FXCM vs. ETF Alternatives
FXCM Inc is an online provider of foreign exchange trading and related services to retail and institutional customers. It offers its customers the ability to trade contract for differences, spread betting, equities and equity options.
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