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FXCM Chief Operating Officer David Sakhai has offloaded 7277 shares in FXCM Holdings LLC, in exchange for the identical number of shares of Class A common stock of FXCM Inc on a one-for-one basis.
According to a filing with the US Securities and Exchange Commission, the transaction, which took place on Tuesday August 19, 2014, states that a weighted average price was applied to the stock.
These shares were sold in multiple transactions at prices ranging from $13.75 to $13.82, inclusive, equating to approximately $100,200 in monetary value.
Mr. Sakhai’s reasons for opting to convert the shares on this basis have not been proffered, however, FXCM’s recent campaign of acquisitions have perhaps bolstered investor confidence, as the company has gained a substantial economy of scale by its purchase of specialist company Faros Trading last year, and more recently, the acquisition of FXDD’s North American client base at a time when many firms have exited the US market, whilst the remaining few firms continue to get larger.
To read the SEC filing, click here.
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