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UK Plc Sues the European Central Bank

Jim — Fri, 16 Sep 2011 10:31:18 +0000

Following on from last month's European attack on the City of London a new front has opened up in the war currently being waged to regulate away risk in the world's financial markets. However this time around Britain is fighting back in the courts! Bloomberg reports that:

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CFTC Sues British Registered Broker

Jim — Fri, 09 Sep 2011 12:39:18 +0000

Fresh from agreeing a settlement with FXCM's UK subsidiary, the CFTC has stepped up its campaign in the courts against "unregistered" RFEDs by announcing that it is bringing civil actions against another 11 foreign currency firms. As in their first such sweep a number of those firms are based in far away places such as Belize, the British Virgin Islands and Cyprus. However two names stand out in the CFTC's blacklist of miscreants as being more "onshore" than the others, namely:

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FXCM's IPO Shares Hit the Street Today

Jim — Thu, 02 Dec 2010 10:30:54 +0000

The first of what may eventually turn into a trio of forex initial public offerings finally came to fruition yesterday evening when FXCM announced that:

Its initial public offering of 15,060,000 shares of its Class A common stock has been priced at $14.00 per share. The shares are expected to begin trading tomorrow, December 2, 2010, on the New York Stock Exchange under the ticker symbol “FXCM.” The underwriters have been granted a 30-day option to purchase up to 2,259,000 additional shares of Class A common stock at the public offering price less the underwriting discount from FXCM if the underwriters sell more than 15,060,000 shares in the offering.

Time will tell if the underwriters manage to collect those additional shares at a bargain basement price, but FXCM seem to be well on the way to raising over $200 million in new capital. According to Bloomberg:

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Betfair IPO a Success. Will FXCM Succeed Where GAIN Did Not?

Jim — Thu, 28 Oct 2010 12:14:07 +0000

The Betfair Group IPO was initially mooted back in 2005, but was then put back on the shelf. On September 21st Betfair announced that they intended to list their shares on the London Stock Exchange and last week the prospectus was published at long last, informing any interested readers that:

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FXCM Acquire ODL Group

Jim — Wed, 05 May 2010 13:58:09 +0000

Last night The Daily Telegraph reported that British forex broker ODL Group Ltd. has "agreed on terms to be acquired" by FXCM Holdings LLC. It looks as though the new brand of the combined organization in Europe is going to be "ODL Powered by FXCM – Bigger, Better, Stronger"

London Capital Group in Roller Coaster Ride

Jim — Thu, 10 Dec 2009 18:40:52 +0000

London Capital Group Holdings plc are behind a considerable number of UK spread betting brokers, including Capital Spreads, ProSpreads, Dealing Desk and even Saxo Bank Financial Spreads. At the beginning of this week they issued their third profit warning. According to the Financial Times:

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