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Screenshot of a breaking news alert e-mail from Q2 2017
Gives FXCM flexibility to raise public equity or debt.
Leading retail FX firm FXCM, the world’s largest online FX broker (and a member of LeapRate’s Approved List), filed a prospectus with the U.S. Securities and Exchange Commission (or “SEC”) which will allow FXCM to issue up to $125 million in equity and/or debt securities in the coming months.
Just to clarify, this does not mean that FXCM has indeed raised more money, which it has not. This is just a typical filing made by many public companies, positioning them to raise money in the future if the need (e.g. an acquisition) or an opportunity (e.g. spike in share price, or fall in interest rates) occurs. The cost with making such a filing is fairly low (in this case about $17,000, plus fees mainly to lawyers and accountants of about $40,000), so again it is a fairly common thing to do for companies looking at a potential future fundraising in the public markets.
The full text of the prospectus can be downloaded from the SEC’s website by clicking here.
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