FXCM begins to display damage to its commercial structure following its exit from its own domestic market as 150 staff are let go. In the aftermath of the astonishing revelations that FXCM has been banned from operating in the United States for trading against its customers, the beginning of what could well be the dismantling of one of the world’s largest electronic trading companies is beginning to make its presence felt. Just one day after the Commodity Futures Trading Commission (CFTC) took its action against FXCM, reaching a settlement of $7 million and insisting that FXCM along with CEO Drew Niv and senior ... (full story)