FXCM in Fire Sale Talks with Potential Buyers

FortuneZ has learned that the recently beleaguered FXCM is in talks with several private equity funds, as well as cash-rich brokers to complete either a partial or full asset sale or raise between $100-200 million by as early as Monday.

FXCM has incurred $225 million in losses as well as a debilitating share crash, which prompted rumors to swirl as to its fallout. One of the players FXCM has been rumored to talk to was ADS Securities, a cash-rich broker based out of Abu Dhabi who could provide a solution or outright exit strategy.

Alternatively, another name that is being tossed around is Jefferies, who could be looking for a purchase of FXCM in the neighborhood of $200 million. The details of a potential deal appear to be imminent and are expected to be concluded as early as Monday.

In another turn, FXCM has just had a review opened up against it by the US CFTC following a crash of 88.2% and suspension of trading Friday that saw its shareprice tumble to $1.42.

(Photo: FXCM)

Bitcoin (BTC) $ 59,838.00 0.01%
Ethereum (ETH) $ 2,124.04 1.07%
Binance Coin (BNB) $ 579.77 14.56%
XRP (XRP) $ 1.36 0.12%
Tether (USDT) $ 0.999969 0.03%
Cardano (ADA) $ 1.30 2.51%
Polkadot (DOT) $ 40.22 2.09%
Uniswap (UNI) $ 36.66 21.59%
Litecoin (LTC) $ 243.94 2.25%
Chainlink (LINK) $ 32.63 4.33%
S&P 500  ^GSPC 
$4,119.86  $8.94  (-0.22%)
Dow Jones Industrial Average  ^DJI 
$33,683.08  $117.52  (-0.35%)
NASDAQ Composite  ^IXIC 
$13,826.71  $73.48  (-0.53%)
Russell 2000  ^RUT 
$2,231.99  $11.48  (-0.51%)
Crude Oil May 21  F*CL.NYM 
$59.59  $0.2700  (0.46%)
$0.0000  $0.0000  (0.00%)