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Saturday, 03/14/2015 6:35:59 PM

Saturday, March 14, 2015 6:35:59 PM

Post# of 18419
FXCM aims to “make significant near-term reductions in our loan obligation to Leucadia through the sale of non-core assets and cash generated from our profitable operations to repay the full loan by the end of this year,” Niv said during the call.

FastMatch, which runs a venue for traders to buy and sell currencies, is probably the most prominent of the three businesses. KCG Holdings Inc. just sold HotSpot, which is one of FastMatch’s competitors, to Bats Global Markets Inc. for $365 million.
“While smaller than HotSpot, FastMatch has grown much more rapidly,” Niv said.

Following the disclosure, FXCM’s shares surged 20 percent to $2.58 as of 4 p.m. New York time Friday. The stock was trading above $15 before the Swiss central bank’s decision roiled currency markets in January.