FXCM Inc. announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock. Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and Citi will act as joint book-running managers of the offering. Barclays Capital Inc., Deutsche Bank Securities, Inc., Sandler OâNeill & Partners, L.P. and UBS Securities LLC will act as co-managers. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, or by calling: 800-221-1037, J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling: 866-803-9204 and Citi, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, or by calling: 800-831-9146, or by e-mailing Citi at: batprospectusdept@citi.com. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. Trading foreign exchange and CFDs on margin carries a high level of risk, and may not be suitable for all. Read full disclaimer. Media Contact: Jaclyn Sales jsales@fxcm.com 646-432-2463
WOW! I've requested one, IF the information contained in it is accurate it will reveal more about FXCM operations, culture, plans, etc than any of us could ever hope to know. The information should reveal how other FX companies operate as well...a treasure trove of information...I can barely wait! I would suggest that each and every trader get a copy, read it, and discuss it here...we will all learn from it!
You want to learn more ... ? http://www.bostontechnologies.com/startbrokerage.html And especially of interest : http://www.bostontechnologies.com/docs/Business_Plan.pdf
Odd to see FXCM going to IPO market, before we have their formal answers on how they will adjust their business model after the Aug. 30th release of new CFTC rules on retail off-exchange forex transactions. See my blog on that. Will FXCM's retail forex trading platforms in the UK and other countries need to adhere to the new CFTC rules limiting leverage on majors to 50:1 leverage, FIFO-only and more? If that answer is yes, will that alter how FXCM does business and will it hinder their revenues and profits? On the other hand, if tax havens are limited in doing business with Americans, solid U.S. retail forex dealers may win over that new business.
Someone wrote up what they submitted in their forms here: http://forexmagnates.com/fxcm-files-for-an-ipo-valued-at-676-million-pre-money/ If his 676 mln figure is right (i have no clue), this sounds like not much, considering IG Markets has a mktcap of 1.8 bln.