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FXCM Purchases $12m Note Issued by Infinium Capital

FXCM, the leading US-based Forex broker, has just announced the acquisition of a note worth $12 million, issued by Infinium Capital, an online trading firm based in Chicago.
 
FXCM is buying the note, which matures in August 2015, in a partnership with some principals of  Lucid Markets, a major player in the institutional Forex market, in which FXCM acquired a 50.1% stake for $176 million in the summer of 2012.
 
The news of talks on an eventual deal between FXCM and Infinium surfaced in the end of August this year, but the nature of a possible deal was undisclosed. The move marks another step in the push by FXCM into the institutional FX business area. FXCM's chief financial officer Robert Lande reiterated the broker's interest into such targets during his presentation at the Barclays Global Financial Services Conference, on September 11th.
 
Let us remind you that buying a note does not entail any ownership of stock in a company: instead we are talking about a type of debt securities. Obviously, the company is playing it safe and would simply take its time to make a final judgment on how far it wants to buy into the institutional Forex area.
 
Below is the official press release by FXCM regarding the transaction.
 

FXCM Acquires Infinium Note

 
NEW YORK--(BUSINESS WIRE)-- FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange , or FX, trading and related services worldwide, today announced that the company and certain principals of its subsidiary Lucid Markets Trading Limited ("Lucid"), have purchased a $12 million note issued by Infinium Capital Holdings LLC ("Infinium") maturing August 2015 from Infinium investors. Infinium is an electronic market maker in commodities and foreign exchange trading. Lucid is an electronic market maker in the institutional foreign exchange spot and futures markets. FXCM owns 50.1% of Lucid.
 
No further details of the transaction are being released at this time.
 

About FXCM Inc. 

 
FXCM Inc. (NYSE:FXCM) is a global online provider of foreign exchange, or FX, trading and related services to retail and institutional customers world-wide. 
 
At the heart of FXCM's client offering is No Dealing Desk FX trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, offers Contract for Difference ("CFD") products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with FX on one platform. In addition, FXCM offers educational courses on FX trading and provides free news and market research through DailyFX.com. 
 
Trading foreign exchange and CFDs on margin carries a high level of risk, and may not be suitable for all. Read full disclaimer. 
TAGS: fxcm  fxcm infinium  infinium capital management  fxcm forex broker  us market  us forex  mergers and aqcuisitions  forex m&a  lucid markets  note 

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