Global Brokerage Inc. (GLBR)

[Green2013]

Interesting also the use of the world collateral by the verified FXCM broker on his comments and on section 7.15 from the loan agreement pasted also below.

To clarify, the collateral for the Leucadia loan is ownership of FXCM's operations, not the money in client accounts. As I mentioned previously, our plan is to repay the loan with proceeds from the sale of non-core assets. However, if for any reason, we were unable to repay the loan on schedule, Leucadia would own the stock of the company and could sell it. That still would not let them take client funds.

Read more: http://forums.babypips.com/fxcm/71953-will-fxcm-around-3-years-leucadia-loan-terms.html#ixzz3b6LQgv1m


And here is a clause from the loan agreement bashers and shorts don't want you to know and where the word collateral is used as well. The collateral is transferred back if all obligations of the loan are met which the company plans to do in less than 1 year and indeed is ahead of schedule on his obligations......

7.15 Termination . At such time as the Secured Obligations shall have been Paid in Full, the Collateral shall be released from the security interest created hereby, and this Security Agreement and all obligations (other than those expressly stated to survive such termination) of the Administrative Agent and the Debtors hereunder shall terminate, all without delivery of any instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Debtor. At the request and sole expense of the Debtors following any such termination, the Administrative Agent shall deliver to the Debtors any Collateral held by the Administrative Agent hereunder, and execute and deliver to the Debtors such documents as the Debtors shall reasonably request to evidence such termination.