Gain Capital Agrees To Acquire Client Base Of FXCM's U.S. Operations
Former FXCM clients will be transferred to FOREX.com
BEDMINSTER, N.J., Feb. 7, 2017 /PRNewswire/ -- GAIN Capital Holdings, Inc. (NYSE: GCAP) ("GAIN" or "the Company"), a global provider of online trading services, announced that it has entered into a definitive agreement to acquire the client base of FXCM's U.S. operations. For the 3 months ended December 31, 2016, average daily volume from customers of FXCM's U.S. operations was approximately $2.4 billion. Financial terms of the transaction were not disclosed.
Under the terms of the agreement, customers of FXCM's U.S. regulated business will be transferred to GAIN Capital's retail trading service, FOREX.com (www.forex.com). The transaction is subject to final regulatory approval. It is expected to close before the end of February.
"We are excited to welcome customers of FXCM's U.S. operations to our award-winning FOREX.com service," said Glenn Stevens, CEO, GAIN Capital. "They will become part of one of the largest and most well-capitalized providers of retail FX trading services globally. At GAIN Capital, we pride ourselves on our 17-year track record of protecting our clients and delivering on their FX trading needs."
GAIN Capital is one of the largest providers of retail FX & CFD trading services globally. The Company is currently regulated in eight jurisdictions, with approximately 140,000 customers and over $1.5 billion in assets. In addition to its U.S. regulated retail forex business, GAIN operates regulated retail trading operations in the United Kingdom, Japan, Hong Kong, Australia, Singapore, Grand Cayman and Canada, conducting its retail trading business globally under its FOREX.com and City Index brands. In addition to its retail trading business, GAIN operates a broadly diversified business, which includes a U.S.-based retail futures business and an international institutional trading business, GTX.
About GAIN Capital
GAIN Capital Holdings, Inc. provides innovative trading technology and execution services to retail and institutional investors worldwide, with multiple access points to OTC markets and global exchanges across a wide range of asset classes, including foreign exchange, commodities, and global equities. GAIN Capital is headquartered in Bedminster, New Jersey, with a global presence across North America, Europe and the Asia Pacific regions. For further company information, visit www.gaincapital.com.
Forward-Looking Statements:
In addition to historical information, this press release contains "forward-looking" statements that reflect management's expectations for the future. The forward-looking statements contained herein include, without limitation, statements relating to GAIN Capital's expectations regarding the proposed acquisition of the U.S. accounts of Forex Capital Markets L.L.C., including expectations regarding the timing of the closing. All forward looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that GAIN Capital will consummate the acquisition of accounts or otherwise realize these expectations or that these beliefs will prove correct. The forward-looking statements included herein represent GAIN Capital's views as of the date of this release. GAIN Capital undertakes no obligation to revise or update publicly any forward-looking statement for any reason unless required by law.
SOURCE GAIN Capital Holdings, Inc.
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