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FXCM Announces Credit Facility

01 February 2012 | by Forex

FXCM Inc. (NYSE:FXCM), a leading online provider of foreign exchange, or FX, trading and related services, recently announced that FXCM Holdings LLC has entered into a three-year revolving credit facility with Bank of America, N.A., as Administrative Agent and several lenders from time to time parties thereto.

“We are pleased to announce the credit facility which will provide us the increased liquidity and financial flexibility that will allow us to continue to grow our business both organically and through acquisitions.” said Drew Niv, Chief Executive of FXCM.

From ir.fxcm.com:

FXCM Inc. is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers worldwide.

At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution, and trading from real-time charts. FXCM's UK subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade forex, oil, gold, silver, and stock indices on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.

The credit agreement provides for a revolving credit facility of $75 million that may be increased during its three year term by up to $75 million for a total of up to $150 million.

Saturday 5, May 2012 — Michael Goss

Nice to know that about my

Nice to know that about my favorite broker.

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