Citigroup Inc (C)

[Condor65]

Fxcm is acquiring the Citigroup's Forex Client Book

Bloomberg: Citigroup to Sell Foreign-Exchange Accounts to Saxo Bank, FXCM

http://www.bloomberg.com/news/articles/2015-05-23/citigroup-to-sell-foreign-exchange-accounts-to-saxo-bank-fxcm


Reuters: Citigroup selling retail online FX trading platform to FXCM, Saxo Bank

http://www.reuters.com/article/2015/05/22/forex-citifxpro-sale-idUSL1N0YD1MZ20150522


What is CitiFX Pro?

http://www.citifxpro.com/us/fact-sheet

CitiFX Pro was launched in 2008 to provide individual and institutional clients the opportunity to trade FX with a global leader. Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries. We provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage and wealth management.

April 20: FXCM's Announces Future Direction

http://finance.yahoo.com/news/fxcms-institutional-department-announces-future-120000915.html


About FXCM Newco and the loan:

FXCM Newco was formed to hold the non core collateral assets of FXCM holdings. All assets up for liquidation were put into FXCM newco.

The CitiFX acquisition is acquired by FXCM holdings. It can not be liquidated in the event of default.

FXCM Q1/15 Earnings Conf. Call transcription + slides

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113564790