Retired FXCM Chief Dealer Michael Romersa offloads entirety of FXCM stock – at just $2.7 per share

During the past year, Michael Romersa, who has retired from his position as Chief Dealer at FXCM Inc (NYSE:FXCM), has been selling his shares in a series of different transactions.

Today, as per a filing with the US Securities and Exchange Commission (SEC), Mr. Romersa has sold the entirety of his remaining beneficial securities, for $2.708 per unit of class A common stock.

The transaction, which took place on January 22, 2014, involved the sale of 363,807 units of Class A common stock, representing the final remaining portion of beneficial securities held by Mr. Romersa in FXCM. In monetary terms, this amounts to a value of $985,189.

Following the extreme volatility which took place across the global currency markets on January 15 this year, FXCM was exposed to $225 million. The company took immediate action in the form of a loan of $300 million from Leucadia however the share price tumbled from approximately $17 per share, to $2 per share as a result.

Mr. Romersa had been selling stock last year, and in the initial weeks of 2015 for substantially higher sums than this, a recent example having been recorded in a transaction which too place on January 9, in which Mr. Romersa sold 10,550 shares at $17.01 per share, which realized a cash value of approximately $179,450.

Just two days prior to those transactions, Mr. Romersa sold 7,772 units of class A common stock at $17.08 per share, shortly after a previously reported transaction which took place on the same date in which Mr. Romersa concluded a sale of a substantial amount of FXCM shares.

That particular transaction involved Mr. Romersa selling $1,733,947.93 worth of company stock, which was preceded very shortly beforehand by a sale of 62,301 shares at $16.96 per share, equating to a total monetary value of $1,056,624.96.

Mr. Romersa was Chief Dealer of FXCM before retiring prior to FXCM’s IPO in December 2010, and has recently engaged in a series of sales of proportions of his shares, the most notable having been in March this year, when he sold 550,000 units of common stock, at a value of approximately $8.8 million.

Following his most recent sale of shares, Mr. Romersa continues to hold a further 363,807 units of beneficial securities.

In March, Mr. Romersa’s high value liquidation followed similar sized sales of FXCM shares by Lucid Markets executive Matthew Wilhelm, which he received as part of FXCM’s purchase of 50% of Lucid in June 2012 for $176 million. Mr. Wilhelm offloaded a further $4.3 million worth of shares in October this year.

For the official SEC filing, click here.

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