Very low. Just look at the financials for FXCM for confirmation...
Uhmm, FXCM has very low margins for the industry...
The controlling variable here is the Leucadia deal. By the math.
Fundamentally, FXCM is critically wounded.........Not much else to say.
I know people were thinking they were getting a good value here. Unfortunately, the value was previously sold to Leucadia.
But, that's all in the filings.
I.e., monthly trading volumes aren't even on the same order of magnitude as far as profit margins are concerned to matter.
It really mystifies me as to why people think they matter, and look at the metrics...
I will say one thing, at least their business doesn't seem to be ruined. Like it appeared at first to be, after the SNB event.
However, it is still not even close to making a big difference in pps, other than to say there is hope. PPS inevitably headed down, however.
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