It seems FXCM aren't the only forex broker suffering unfortunate side effects following the Swiss National Bank's unexpected announcement yesterday. I have a number of accounts with Alpari UK, fortunately in all the circumstances for test purposes only. Whilst I have yet to receive an email from them on this topic, they have posted the following notice on their web site this morning:
It's all go on the mergers, acquisitions and transfers front this week! Swissquote Bank announced in a press release earlier today that:
Swissquote Bank is acquiring a 100 percent holding in MIG Bank effective 25 September 2013. The acquisition of this major forex broker secures Swissquote Bank a place among the world’s largest forex service providers. The goal is to merge MIG Bank with Swissquote Bank.
In a news release yesterday FXCM announced that:
Its U.S. subsidiary Forex Capital Markets LLC has agreed to assume the forex accounts of Alpari US LLC.
On Friday, September 27, 2013, accepted Alpari U.S. accounts will be transferred to FXCM U.S. after the close of trading.
GAIN Capital have just announced in a press release that:
It has reached an agreement to acquire the US-based retail forex business of GFT Forex ("GFT"), pending regulatory approval. Financial terms of the transaction were not disclosed.
Betfair Group PLC made an announcement today via the London Stock Exchange's Regulatory News Service revealing their preliminary results for the year to April 30th 2012. They headlined with the opinion that: