FXCM and Saxo Bank Acquire Citigroup’s CitiFX Pro Client Book

On May 21, 2015, FXCM Inc. (“FXCM”) announced that, on May 19, 2015, its U.S. subsidiary, Forex Capital Markets LLC, and U.K subsidiary, Forex Capital Markets Limited, agreed to assume the vast majority of margin forex accounts of CitiFX Pro from Citibank N.A. (NYSE: C) and Citibank International Limited, which traded over $30 billion on average a month during 2014.

After the close of trading on Friday, June 26, 2015, accepted CitiFX Pro accounts will be transferred to the corresponding FXCM entity. CitiFX Pro clients will be transitioned to FXCM’s comparable trading solutions and parameters either on Trading Station, the MT4 Platform, or APIs according to their current settings and needs.


http://www.streetinsider.com/Corpora.../10590997.html

Not really breaking news. I was only surprised with such modest monthly flow of 30 yards.

30 yards for only 600 traders is not bad

I was one of the 600 and am disappointed that Citi was likely forced to give up retail spot. For all of the issues, I felt Citi was decent.

Citi still quotes wholesale pricing to some tier 1 brokers

Yeah I suspect that wasn't part of the deal with the authorities.

Isn't FXCM itself deep under water? Wounded big by CHF shock....

They need volume to get out of the water.

Lets see it that way: they got a loan, Alpari and some other did not.

They're still alive, but they will remember the echo of CHF for a long time. btw is anybody here still working with them? any changes in conditions?