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Stock Market & Financial Investment News

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January 15, 2013
16:37 EDTFXCMFXCM reports December trading metrics
Retail customer trading volume(1) of $257 billion in December 2012, 16% lower than November 2012 and 11% lower than December 2011. Volume from indirect sources was 47% of total retail volume(1) in the fourth quarter 2012. Retail customer trading volume(1) for the fourth quarter 2012 was $886B, 3% higher than the third quarter 2012, and 9% lower than the fourth quarter 2011. Retail customer trading volume(1) for full year 2012 was $3.6T, 5% lower than 2011. Average retail customer trading volume(1) per day of $13.5B in December 2012, 3% lower than November 2012 and 3% higher than December 2011. An average of 409,875 retail client trades per day in December 2012, 16% higher than November 2012 and 15% higher than December 2011. Tradeable accounts(2) of 190,217 as of December 31, 2012, a decrease of 13,278, or 7% from November 30, 2012, and an decrease of 4,389, or 2%, from December 31, 2011. In December, FXCM charged an account dormancy fee on certain accounts that had been inactive over one year, resulting in the decline in tradeable accounts when compared to November 2012. Active accounts, accounts which have placed a trade in the past 12 months, increased by 418 accounts to 170,930 in December 2012 from November 2012. Institutional customer trading volume(1) of $80B in December 2012, 11% lower than November 2012 and 23% lower than December 2011. Average institutional trading volume(1) per day of $4.2B in December 2012, 3% higher than November 2012 and 11% lower than December 2011. An average of 11,313 institutional client trades per day in December 2012, 15% higher than November 2012 and 35% lower than December 2011.
News For FXCM From The Last 14 Days
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January 20, 2015
06:17 EDTFXCMFXCM price target lowered to 75c from $5 at Citigroup
Citigroup lowered its price target for FXCM (FXCM) to 75c from $5 saying Leucadia's (LUK) $300M rescue package "essentially wiped out" the equity value. Citi estimates FXCM's pro forma market value around $50M-$68M and keeps a Sell rating on the name.
06:17 EDTFXCMFXCM provides further details on agreement with Leucadia
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January 16, 2015
16:45 EDTFXCMFXCM resumes trading, up over 150% from halted level
FXCM shares were down 88% in pre-market trading prior to being halted.
16:29 EDTFXCMOn The Fly: Closing Wrap
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15:57 EDTFXCMLeucadia to provide $300M financing to permit FXCM to continue operations
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15:11 EDTFXCMLeucadia provides FXCM $300M in financing, CNBC reports
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13:01 EDTFXCMCitigroup losses on currency top $150M, Bloomberg reports
Citigroup's (C) losses after the Swiss central bank abandoned the cap on the franc's value against the euro totaled more than $150M, a source tells Bloomberg. The losses occurred on the bank's trading desks and aren't related to its relationships with FXCM (FXCM) and other platforms, the source adds. Reference Link
12:43 EDTFXCMOn The Fly: Midday Wrap
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11:17 EDTFXCMJefferies working on $300M deal to rescue FXCM, CNBC reports
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10:58 EDTFXCMFXCM in talks to raise $200M from Jefferies, Bloomberg reports
According to sources, FXCM (FXCM) is in discussions to raise nearly $200M from Jefferies, a unit of Leucadia (LUK), Bloomberg reports. FXCM last night that due to "unprecedented volatility" in EUR/CHF pair after the Swiss National Bank announcement, clients experienced "significant losses," generating negative equity balances owed to FXCM of approximately $225M. Reference Link
10:55 EDTFXCMFXCM in talks to raise $200M from Jefferies, Bloomberg reports
Jefferies is a unit of Leucadia (LUK).
10:01 EDTFXCMOn The Fly: Analyst Downgrade Summary
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09:24 EDTFXCMGAIN Capital CEO says had taken risk steps ahead of surprise SNB change
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09:22 EDTFXCMFXCM trading halted, pending news
FXCM shares were down 88% in pre-market trading prior to being halted. The shares have been downgraded by at least three research firms this morning after the company announced a $225M client equity shortfall and a possible breach of regulatory capital requirements.
09:13 EDTFXCMFXCM downgraded to Underperform from Outperform at Raymond James
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09:12 EDTFXCMOn The Fly: Pre-market Movers
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07:08 EDTFXCMFXCM downgraded to Underperform from Outperform at Credit Suisse
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06:25 EDTFXCMFXCM volatility spikes on Swiss Franc movement
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06:23 EDTFXCMFXCM downgraded to Sell from Neutral at Citigroup
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06:20 EDTFXCMFXCM says may be in breach of regulatory capital requirements
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