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Stock Market & Financial Investment News

News Breaks
February 26, 2014
05:49 EDTFXCMFXCM 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 UKs 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.
News For FXCM From The Last 14 Days
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January 20, 2015
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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January 14, 2015
07:30 EDTFXCMCJS Securities to hold a conference
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