LeapRate Exclusive… Following on our revelation late last week that FXCM is well along with the planned sale of its institutional FX brokerage arm FXCMPro, LeapRate has learned that the amounts being discussed are now somewhat lower than we originally reported.
We have learned from sources close to the situation that although FXCM Inc (NYSE:FXCM) originally had hoped to get in the $150-$180 million range – roughly half of what KCG just received in the sale of Hotspot FX for $365 million given that FXCMPro does about half the trading volumes of Hotspot – the negotiations are taking place in the $70 to $90 million range. We had earlier reported that $100 million was a likely outcome in the sale.
Apparently FXCM is asking now in the $90 million range, while the most seriously interested party is only offering in the $70 million range.
We will continue to monitor the situation and continue to bring you exclusive coverage of the situation at FXCMPro as it develops.