FXCM’s V3 Markets gets NFA registration as floor trader firm


V3 Markets, the newly launched joint venture between US retail FX broker FXCM and electronic trading company Lucid Markets, has obtained registration with the United States National Futures Association (NFA) as a floor trader firm. V3 Markets first applied for such a status in April 2014 and managed to secure it officially on June 18, 2014. The move is an important step in the establishment of the business, in which FXCM holds a 50.1% stake, whilst the remainder is held by Lucid principals.

The registration (NFA ID: 0476349) not only provides the trivial information about business address , which unsurprisingly nestles among the world’s large trading desks in Chicago, but also sheds light on the management of the new entity. Mark Palchak, former president at Infinium Capital Management, is assuming the role of V3 Markets’ Chief Executive Officer. The position of Chief Operating Officer is entrusted to Patricia K Muchinsky, who has a wealth of experience from within her current role as Vice President, Business Relations at FXCM. Dierk Reuter, founding partner at Lucid Markets, will be director, with his stake in the new joint venture exceeding 10%.

The list of business entities owning stakes of more than 10% in V3 Markets include principally FXCM, with other large investors including Cirali LLC and Meigsfield LLC.

This landmark moment comes one year after FXCM confirmed that it was in talks about a possible deal with Infinium, the Chicago-based electronic trading company which at the time grappled with the onslaught presented to it by heightened competition and tightening global regulations regarding high-frequency trading. In October 2013, Infinium sold a $12 million note to FXCM, with maturity in March 2015. The purchase of selected assets was completed prematurely and in March this year the broker announced it had finalized the deal for the purchase.

As a result, FXCM kept five of Infinium’s trading desks along with the company’s top-notch infrastructure, praised highly for its qualities. Drew Niv, FXCM’s chief executive, even called the the high-speed trading network inherited from Infinium one of the best in the world. Lucid Markets, which was bought by FXCM in 2012, will get to benefit from the trading infrastructure and from the application of its algorithmic trading strategies to a vaster array of instruments.

In its Investor Presentation for August 2014, FXCM says that the establishment of V3 Markets and its integration are going on as planned. The new firm has a dedicated website www.v3markets.com, which we hope to see filled with content soon.

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FXCM's V3 Markets gets NFA registration as floor trader firm

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