FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange, or FX, trading and related services worldwide, today announced that it has acquired a 50.1% controlling interest in Faros Trading LLC (“Faros”).Financial terms were not disclosed.
Faros Trading is a global leader in foreign exchange intelligence, market coverage, and execution services to the institutional foreign exchange market. Faros helps clients make money by providing provocative, thoughtful, and value added research.
“The acquisition of Faros expands FXCM’s institutional business, adding industry leading market intelligence and client services to the execution platforms we offer now,” said Drew Niv CEO of FXCM. “The combination should expand our market reach and deliver a compelling suite of services to institutional FX traders.”
No further details of the transaction are being released at this time.Disclosure Regarding Forward-Looking Statements In addition to historical information, this release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect FXCM Inc.’s current views with respect to, among other things, its operations and financial performance for the future. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,”“expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. FXCM Inc. believes these factors include but are not limited to evolving legal and regulatory requirements of the FX industry, the limited operating history of the FX industry, risks related to the protection of its proprietary technology, risks related to its dependence on FX market makers, market conditions and those other risks described under “Risk Factors” in FXCM Inc.’s Annual Report on Form 10-K and other SEC filings, which are accessible on the SEC website at sec.gov.