FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange, or FX, trading and related services, today provided an update regarding its relationship with Leucadia and its stock repurchase program.
As previously stated, both FXCM and Leucadia remain committed to restructuring their existing Letter Agreement in a manner that is consistent with a sustainable long-term and value-enhancing strategy for both companies.
These discussions remain ongoing and there can be no assurances that they will lead to a definitive agreement. Any definitive agreement, if reached, will be promptly disclosed.
In addition, as has also been previously stated, FXCM’s Board of Directors has authorized a stock repurchase program of up to $130 million, of which there is $65.8 million remaining.
Members of senior management also have informed FXCM that they, too, may purchase shares independently of FXCM and each other. Any such purchases by FXCM or members of senior management may be in open-market or private transactions, and will be subject to market and industry conditions, share price and other factors. All transactions will be in full compliance with applicable securities and other laws.
To see the official release click here.