FXCM Acquires U.S. Business From ODL Securities

FXCM has acquired the U.S. business of ODL Securities. The sale of these accounts will not impact the business of ODL Securities outside of the United States.
By: FXCM
 
 
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* Forex Trading
* Currency Trading
* Forex Broker

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Jan. 20, 2009 - PRLog -- FXCM Acquires U.S. Business
From ODL Securities

Media Contact: Jaclyn Sales, Jsales@fxcm.com, 646-432-2463
          Damien Francis, dfrancis@odls.com, +44 (0)7966 477 281
New York―January 16, 2009―FXCM (http://www.fxcm.com) has acquired the U.S. business of ODL Securities (http://www.odlsecurities.com). The sale of these accounts will not impact the business of ODL Securities outside of the United States. ODL Securities is a well recognized brokerage firm based out of London, England. The sale of the U.S. business was part of a strategic decision by ODL to use its financial capital to fuel its growth in other parts of the world. The company has recently opened JV offices in Turkey and Australia, and has regulated offices in Japan and Canada.

ODL’s US clients will continue to be able to use the MetaTrader4 (MT4) trading platform.  FXCM’s version of the MT4 platform offers No Dealing Desk execution and fractional pip pricing. FXCM also has a dedicated MT4 support team to help clients transition their accounts.

“ODL’s decision to focus on their core geographic strength has provided FXCM a wonderful opportunity for expansion. We are pleased that ODL selected FXCM. We believe that this is the first of many similar deals in which forex brokers will be forced to make difficult resource allocation decisions, due to the increased U.S. capital requirements,” said Marc Prosser, Chief Marketing Officer of FXCM.

The minimum amount of firm capital that a Forex Dealer Member (FDM) must maintain has increased by three times over the past year and will be rising again in the next three months. FXCM has one of the largest amounts of firm capital with over $100 Million.* FXCM was founded in the United States with  offices, partners, and affiliates in the world’s major financial centers, uniquely positioning FXCM to provide exceptional service to traders around the world. FXCM’s domestic offices are located in New York, NY; Plano, TX; and San Francisco, CA and international offices include Hong Kong, London, Tokyo, and Sydney.

*Source: http://cftc.gov
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ODL Securities is a leading, independent Forex, derivatives, equity, spread betting & commodity trading house with regulated offices in UK, Japan and Canada. ODL Securities Limited is authorised and regulated by the Financial Services Authority, and is a member firm of the London Stock Exchange, Euronext LIFFE. and a member of APCIMS.  For further information please visit www.odlsecurities.com
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FXCM Facts
• Forex Capital Markets LLC is one of the largest Forex Dealer Members
• More than 100,000 live accounts trade on platforms offered by FXCM
• An average of $350 billion in notional volume is traded each month on platforms offered by FXCM
• In excess of $600 million in customer funds trade on platforms offered by FXCM
• FXCM provides customer support with native speakers in more than a dozen languages in 7 offices around the world
** All data as of January 2009
End
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Tags:Fxcm, Forex Capital Markets, Forex, Forex Trading, Currency Trading, Forex Broker
Industry:Banking, Business, Finance
Location:New York - United States
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