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FXCM reports 21.6% annual rise in trading revenue for Q4 2016

Mar 20 2017
By
Jonathan Smith

FXCM, or rather Global Brokerage, Inc. (NASDAQ:GLBR) as the company is known after the February folding up of its US operations, reported that its trading revenue from continuing operations in the quarter that ended on December 31, 2016, amounted to $79.5 million. This is nearly 21.6% higher than the same quarter of 2015, when the trading revenue stood at $65.4 million. 

 
For the entire 2016, FXCM reported a trading revenue from continuing operations of $276.0 million, compared to $250.0 million for the twelve months ended December 31, 2015. The net income for 2016 was $96.7 million, compared to a net loss of $513.6 million in 2015. 
 
Along with the data on the overall financial performance, FXCM also released trading metrics for the last quarter of 2016 and the entire year. 
 
Logically, the information is divided in two parts: of the former US operations and of the remaining parts of the brokerage. 
 
According to the report, the total trading volume of FXCM, excluding the US subsidiary for the last quarter of 2016 amounted to $798 billion and that of the US operations was $172 billion, bringing the total to $970 billion. 
 
The total trading volume for the entire 2016 of all operations of FXCM, including the US, amounted to $4.06 trillion, up 5.2% from 2015's 3.86 trillion. 
 
In 2016 the FXCM US trading volume amounted to $722 billion. 
 
Click on image for larger view
 
In its filing with the SEC, Global Brokerage, Inc. outlines the two core objectives of the company for 2017. The first one is reducing debt incurred from the Leucadia financing and accelerating the growth of our core business.
 
The brokerage is planning to repay Leucadia with cash generated through operations, money from the sales of the US accounts (to Gain Capital) and other non-core assets and cost savings through staff downsizing and restructuring. 
 
The growth of the remaining core business is to be achieved by increasing focus on retail FX and CFD growth with expanded promotion, distribution and new product introduction and offering of CFDs on an agency model basis in certain jurisdictions.
 
After the closure of the US business, FXCM Group still has its regulated forex businesses in the UK and across the major EU markets Germany, Italy and France, Australia, Israel and South Africa, as well as in Hong Kong, New Zealand, Japan. The broker offers forex, CFDs, and spread betting services. 
 
 
TAGS: fxcm  q4  revenue  loss  2016  trading volume 

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