FXall files for an IPO

Sept. 20, 2011 - PRLog -- LeapRate’s Forex Industry News – Institutional Forex ECN FXall (or more formally, FX Alliance Inc.) filed yesterday for an IPO and a public listing of its common shares. FXall bills itself as “the leading independent global provider of electronic foreign exchange trading solutions, with over 1,000 institutional clients worldwide.”

This is obviously quite an interesting time to be filing for a public offering, when most IPO activity has been halted due to a very volatile (and mostly negative) equity capital market, especially involving financial-related stocks. Also, FXall has not exactly been “hitting the cover off the ball” – although its first half 2011 revenues of $57.0 million were 19% above last year, net income decreased slightly to $5.8 million. However, FXall seems to be getting in line to go public either later this year or early next, when conditions allow.

For more details, including our estimates on valuation and offering size, and the link to directly download FXall’s prospectus, please see the Forex Industry News section of our website at http://www.leaprate.com.

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