News from our mates at Finance Magnates
One of the biggest FX sites, DailyFX has just been sold to IG Group by FXCM. FXCM got into a bit of bother over the SNB cap pull but has managed to slowly turn itself around with help from a cash injection from Leucadia. This sale is a bit of a surprise though, and raises the question of why? It may mean they need to raise cash to repay some of the Leucadia money, but there's nothing confirmed.
FXCM's CEO ruled out any other asset sales;
"At this time, we do not plan on selling any other retail FX assets and believe the remaining assets held for sale satisfy the remaining debt outstanding to Leucadia,"
