FXCM Director and Chief Dealer William Ahdout cashes in $800K in FXCM shares

LeapRate has learned, via filings made with the U.S. Securities and Exchange Commission (SEC), that FXCM (NYSE:FXCM) Director and Chief Dealer William Ahdout has sold 50,000 FXCM shares worth approximately $819,000. The sales were made on November 12.

Mr. Ahdout converted some of his special Holding Units into regular FXCM Class A common stock to effect the sale. He continues to hold about 2.9 million FXCM shares (worth about $48 million). Most of FXCM’s original founding group including Mr. Ahdout continue to hold their stake in the company via the Holding Units.

Mr. Ahdout has been a director of FXCM and its predecessor companies since 1999. He currently serves as FXCM Chief Dealer and a Managing Director, and is one of the original founding partners of the firm. Prior to co-founding FXCM, Mr. Ahdout served as a VP and Chief Dealer of the Tokyo desk at Berisford Capital Markets.

After trading in the mid $14’s in late last month, FXCM’s shares have traded up to the high $16’s after the firm released robust Q3 results and record retail FX trading volumes for October, making FXCM the first retail forex broker outside Japan to top the magic $500 billion monthly mark.

For the official SEC filing click here.

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