LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Forex ECN FastMatch is reporting that volumes in its system decreased slightly during February, by 2% MoM, to average $16.6 billion ADV for the month.
We’d also note that FastMatch yesterday unveiled its new company website, a lot more visually-oriented than the old one.
FastMatch is jointly owned by retail forex broker FXCM – now formally known as Global Brokerage Inc (NASDAQ:GLBR) – and commercial banks Credit Suisse Group AG (ADR) (NYSE:CS) and BNY Mellon Corp (NYSE:BK). FXCM has been active monetizing assets to pay down its high interest loan from Leucadia National Corp (NYSE:LUK) – most recently selling its DailyFX research and news site to IG Group Holdings plc (LON:IGG) for $40 million, and its US clients to rival Gain Capital Holdings Inc (NYSE:GCAP). We believe that FXCM’s stake in FastMatch may be next on the block.