FXCM Group Releases Updated Financial Data
New York, NY, October 06, 2007 --(PR.com)-- The FXCM Group has released its latest balance sheet. The numbers reflect the group’s financial strength and status as of August 31, 2007. Highlights include:
Over $120 Million in Capital* (Assets Minus Liabilities)
Over $96 Million In Operating Cash (Excludes Client Funds)
This release marks the second time this year that the forex broker has publicly disclosed its financials. FXCM believes that financial transparency in the retail forex industry is more important than ever in light of the NFA’s new financial requirements. Furthermore, they challenge other forex firms to follow their example.
Balance Sheet (Unaudited)
As of August 31, 2007
Customer Cash
296,474,636
Operating Cash
96,311,380
Other Assets
19,666,212
Fixed Assets
9,821,211
Total Assets
422,273,439
Customer Deposits
296,474,636
Other Liabilities
5,662,597
Total Liabilities
302,137,233
FXCM Capital
120,136,206
Total Liabilities and FXCM Capital
422,273,439
Drew Niv, CEO of the trading firm, commented: “FXCM is proud of our continued financial discipline and strong balance sheet. We believe clients should have the necessary information to make intelligent choices.”
Forex Capital Markets, LLC Far Exceeds The NFA’s New Capital Requirements
The National Futures Association (NFA) has officially announced that a new increased $ 5 million capital requirement for all Forex Dealer Members will go into effect on December 21, 2007. Although this new $5 million capital requirement has yet to take affect, NFA’s president and Chief Executive Officer has already testified before congress that capital levers for Forex Dealer Members should be raised to $20 million.
Forex Capital Markets, LLC, an NFA member firm, is the US regulated entity of the FXCM Group. As of August 31, 2007 Forex Capital Markets, LLC had an adjusted net capital of $60,268,390.
According to Niv, “The financial resources for FXCM (Forex Capital Markets, LLC) far exceed both the recently announced increased $5 million capital requirement level as well as the $20 million capital level proposed by NFA’s president and CEO in his recent congressional testimony.”
FXCM Facts
· Forex Capital Markets, LLC is one of the Largest Forex Dealer Members*`
· More than 90,000 live accounts are traded on the FXCM trading platform
· Over $200 billion in notional volume is traded each month on the FXCM trading platform
· FXCM provides customer support with native speakers in more than a dozen languages in 6 offices around the world
Registered with the CFTC as a Futures Commission Merchant, FXCM (Forex Capital Markets, LLC) has received numerous awards from the investment community, including Best Currency Broker from Shares, Best Retail Foreign Exchange Platform from FX Week and Best Foreign Exchange Specialist from Technical Analysis of Stocks & Commodities. In addition to currency trading, FXCM offers educational courses on forex trading, and provides research through DailyFX.com.
*In September 2006, FXCM held in excess of $215 million in customer funds out of a total of over $770 million held by Forex Dealer Members. While there are approximately 31 active Forex Dealer Members with liabilities to customers of approximately $795 million, FXCM holds approximately 1 out of every 3 dollars of customer funds held by Forex Dealer Members.
Source: *http://www.nfa.futures.org/news/newsProposedRule.asp?ArticleID=1704
###
Leveraged foreign exchange trading carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
More Information:
Jaclyn Sales
Public Relations Coordinator
FXCM www.fxcm.com
Financial Square
32 Old Slip, 5th Floor
New York, NY 10005
Dir (646) 432-2463
Tel (212) 897-7660
jsales@fxcm.com
Over $120 Million in Capital* (Assets Minus Liabilities)
Over $96 Million In Operating Cash (Excludes Client Funds)
This release marks the second time this year that the forex broker has publicly disclosed its financials. FXCM believes that financial transparency in the retail forex industry is more important than ever in light of the NFA’s new financial requirements. Furthermore, they challenge other forex firms to follow their example.
Balance Sheet (Unaudited)
As of August 31, 2007
Customer Cash
296,474,636
Operating Cash
96,311,380
Other Assets
19,666,212
Fixed Assets
9,821,211
Total Assets
422,273,439
Customer Deposits
296,474,636
Other Liabilities
5,662,597
Total Liabilities
302,137,233
FXCM Capital
120,136,206
Total Liabilities and FXCM Capital
422,273,439
Drew Niv, CEO of the trading firm, commented: “FXCM is proud of our continued financial discipline and strong balance sheet. We believe clients should have the necessary information to make intelligent choices.”
Forex Capital Markets, LLC Far Exceeds The NFA’s New Capital Requirements
The National Futures Association (NFA) has officially announced that a new increased $ 5 million capital requirement for all Forex Dealer Members will go into effect on December 21, 2007. Although this new $5 million capital requirement has yet to take affect, NFA’s president and Chief Executive Officer has already testified before congress that capital levers for Forex Dealer Members should be raised to $20 million.
Forex Capital Markets, LLC, an NFA member firm, is the US regulated entity of the FXCM Group. As of August 31, 2007 Forex Capital Markets, LLC had an adjusted net capital of $60,268,390.
According to Niv, “The financial resources for FXCM (Forex Capital Markets, LLC) far exceed both the recently announced increased $5 million capital requirement level as well as the $20 million capital level proposed by NFA’s president and CEO in his recent congressional testimony.”
FXCM Facts
· Forex Capital Markets, LLC is one of the Largest Forex Dealer Members*`
· More than 90,000 live accounts are traded on the FXCM trading platform
· Over $200 billion in notional volume is traded each month on the FXCM trading platform
· FXCM provides customer support with native speakers in more than a dozen languages in 6 offices around the world
Registered with the CFTC as a Futures Commission Merchant, FXCM (Forex Capital Markets, LLC) has received numerous awards from the investment community, including Best Currency Broker from Shares, Best Retail Foreign Exchange Platform from FX Week and Best Foreign Exchange Specialist from Technical Analysis of Stocks & Commodities. In addition to currency trading, FXCM offers educational courses on forex trading, and provides research through DailyFX.com.
*In September 2006, FXCM held in excess of $215 million in customer funds out of a total of over $770 million held by Forex Dealer Members. While there are approximately 31 active Forex Dealer Members with liabilities to customers of approximately $795 million, FXCM holds approximately 1 out of every 3 dollars of customer funds held by Forex Dealer Members.
Source: *http://www.nfa.futures.org/news/newsProposedRule.asp?ArticleID=1704
###
Leveraged foreign exchange trading carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
More Information:
Jaclyn Sales
Public Relations Coordinator
FXCM www.fxcm.com
Financial Square
32 Old Slip, 5th Floor
New York, NY 10005
Dir (646) 432-2463
Tel (212) 897-7660
jsales@fxcm.com
Contact
FXCM
Jaclyn Sales
646-432-2463
www.fxcm.com
Contact
Jaclyn Sales
646-432-2463
www.fxcm.com
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