FastMatch: Leucadia’s sensible, profitable and institutional savior. The rest of FXCM is fire-sale material Op Ed
10 February 2017, 09:29
0
98
If it is to save itself from shareholder litigation and massive corporate embarrassment, Leucadia could pick up FXCM’s 32% share in FastMatch for pretty much nothing. Bearing in mind ICE tried to buy FastMatch just over a year ago for $200-$250 million, this would put Leucadia in a good position and remove any whiff of association with FXCM from the ECN’s copybook. A detailed analysis by FinanceFeeds
The retail FX industry is no stranger to extreme and ‘you couldn’t make it up’ shock events, however the most recent debacle that surrounds FXCM and its CEO Drew Niv along with senior Managing Director William Ahdout is a milestone in that it plays right into the open hands of the exchange-listed derivatives lobby.
In Chicago on a gargantuan scale, in London on a slightly lesser scale and even in of all places, the financial markets void and technological deserts of Frankfurt, there is nothing more that would suit the agenda of the belt and braces, old fashioned and long established derivatives exchanges and venues that list blue chip stock than a revelation that one of the largest retail OTC derivatives companies in the world, operating from the most highly organized region with the world’s most upright business environment, is in fact, crooked, and has been for several years. [Read more... http://snip.ly/3pwia ]
