Makes sense given their paper worth has increased exponentially since the equities market has rocketed, there'll be hardly any credible choices left for Americans to trade FX at this rate.
FXCM offers to buy smaller rival Gain Capital for $210 mln
FXCM Inc said it offered to buy Gain Capital Holdings Inc for $210.4 million in stock to increase its presence in the online foreign exchange market. FXCM said it will give Gain Capital shareholders 0.3996 shares of its common stock, or $5.35 per share, which represents a premium of about 25 percent of Gain's Monday closing price of $4.27. The company is also willing to offer up to $50 million in cash instead of stock, FXCM said in a statement on Monday. FXCM and Gain Capital are two of the largest providers of electronic platforms for individuals to trade in currencies. FXCM sees the deal being accretive to earnings ... (full story)