FXCM reports February retail average daily volume down 2% to $15.2B Reports February retail customer trading volume down 11% to $305B; Reports February institutional average daily volume down 4% to $8.1B; Reports February institutional customer trading volume down 12% to $162B.
FXCM announces setttlement with Financial Conduct Authority FXCM announces that its U.K. subsidiaries have entered into a settlement with the Financial Conduct Authority. The settlement addresses trade execution practices concerning the handling of price improvements on FXCM UK’s offsetting orders from August 2006 – December 2010. Under the terms of the settlement, FXCM UK has agreed to pay fines totaling 4M pounds to the FCA and to provide approximately $10M in restitution to the affected clients. FXCM recorded a reserve $15M in Q3 for this matter and will record an additional $1.9M in Q4 to reflect the terms of the settlement and related expenses.