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A very busy week in the Forex business
Gain Capital / Forex.com buys (but loses its largest IB), Deutsche Bank (dbFX) quits, FXCM loses major WL client, Alpari announces, TradeStation sells, Saxo Bank to sell?....
1) Gain Capital acquired dbFX, Deutsche Bank’s branded entrant in retail Forex, nabbing in the process rival FXCM’s largest White Label client. dbFX will be closed down. But what exactly is Gain Capital buying? How large were dbFX’s volumes? Which “traditional”
2) Alpari announced (some of) its results for 2010, including monthly volumes of $160 billion. Believable?
3) TradeStation was acquired by Japanese online brokerage firm Monex for $411 million. What does this mean for the Forex business, and in particular for Gain Capital, given that TradeStation had represented its largest IB and more than 6% of its overall volumes?
4) Saxo Bank’s two major outside shareholders, private equity firm General Atlantic and Portuguese financial outfit Espirito Santo Financial Group, were rumored to be close to selling their combined 33% stake in Saxo Bank to unnamed US private equity firms based on a company value for Saxo Bank of almost $3 billion, according to Danish newspaper Borsen.
For more details and analysis of each of these announcements and transactions, see LeapRate’s Forex Industry News page at http://www.leaprate.com/
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