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Screenshot of a breaking news alert e-mail from Q2 2017
Global Brokerage, Inc. (NASDAQ:GLBR), formerly known as FXCM Inc, announced today that it has notified The NASDAQ Stock Market (Nasdaq) of its intention to voluntarily withdraw its Class A common stock, par value $0.01 (the “Common Stock”), from listing on The NASDAQ Capital Market (the “Exchange”).
Global Brokerage intends to file a Form 25, Notification of Removal from Listing under Section 12(b) of the Securities Exchange Act of 1934, with the Securities and Exchange Commission (SEC) on or about December 19, 2017, notifying the SEC of its delisting from the Exchange. The last day of trading on the Exchange will be December 28, 2017. Global Brokerage has not arranged for listing or registration of its Common Stock on another national securities exchange.
On May 2, 2017, Nasdaq notified Global Brokerage that the market value of its publicly held Common Stock did not meet the requirement for continued listing under The NASDAQ Global Market’s listing standards. On November 6, 2017, Global Brokerage was notified that Nasdaq would remove Global Brokerage from The NASDAQ Global Market. Nasdaq approved Global Brokerage to transfer its stock to the Exchange, and the Common Stock began trading at the opening of business on November 13, 2017.
Global Brokerage’s Board of Directors intends to withdraw its Common Stock from listing on the Exchange as a result of several factors, including the intention to deregister its Common Stock under the Securities Exchange Act of 1934, as amended, and terminate its duty to file periodic reports with the SEC in order to reduce its costs of compliance with the rules of the SEC and of the Exchange.