FXCM relaunches FXCMPro prime services


FXCM Inc (NYSE:FXCM) continues the rebuilding of its FX trading franchise. The provider of FX trading and related services today announced the relaunch of FXCMPro.com, its institutional prime brokerage arm.

LeapRate had exclusively reported last year that FXCM was looking for a buyer for FXCMPro, as it was looking generally to sell assets to pay down the $300 million loan it took from Leucadia to remain in business after taking large losses in the Swiss Franc spike of January 15, 2015. When that sale didn’t go forward FXCM moved much of its institutional volume to FastMatch (in which FXCM is a 1/3 owner), and basically shuttered its own direct services to institutional traders.

The broker originally pioneered its institutional arm in 2004. Today, FXCM Pro provides high and medium frequency funds access to prime brokerage via FXCM Prime.

Brandon Mulvihill, Global Head of Sales at FXCM Pro stated,

We are thrilled to unveil our clearing solution within our new website. FXCM Prime provides clients access to multiple trading venues, allowing for direct relationships between traders and liquidity management experts at each ECN provider. FXCM Prime fills the void of settling trades done across all platforms, with over 15 platforms available to clients. This agnostic approach is exactly what tier one prime brokers provide, and this is a rare service found in the secondary prime market.

At present, FXCM Prime offers direct access to Bloomberg Tradebook, Currenex, EBS Direct, EBS Markets, EBS Select, FXall, FastMatch, and Hotspot (BATS). Single bank access is available to BNP, Deutsche Bank, Citi, Goldman Sachs, Nomura, UBS, and RBS.

Mulvihill added,

Onboarding timelines for new customers can be as swift as two weeks. We do not deploy a minimum asset requirement, and our balance requirement to start is $250,000.

For the full announcement from FXCM, click here.

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FXCM relaunches FXCMPro prime services

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