Not only was the exit of dbFX from the retail market a headline grabber, the transfer of clients to Gain Capital once again brought two powerful industry leaders into a bidding war. The dbFX/FXCM partnership was at one point a source of great pride for FXCM, as the white labeling of the Trading Station platform by dbFX legitimized FXCM’s effort to be a serious player in the currency market. The joint venture represented 2.3% of total FXCM revenues in 2010. We can estimate that to be $8 million based on FXCM’s 2010 end of year reports. It’s interesting to note that FXCM didn’t end up acquiring dbFX’s clients, although ... (full story)