Deals
FXCM Said in Talks With Jefferies for $200 Million Rescue
Drew Niv, founding partner and chief executive officer of FXCM Inc., center, attends the opening bell ceremony at the New York Stock Exchange on Dec. 2, 2010.
Photographer: Ben Hider/NYSE Euronext via BloombergThis article is for subscribers only.
Jefferies Group is in talks to give FXCM Inc. a cash infusion of about $200 million, people with knowledge of the matter said, extending a lifeline to the currency brokerage hobbled by the Swiss central bank’s decision to let the franc trade freely against the euro.
FXCM warned Thursday that client losses due to the Swiss National Bank’s action threatened the broker’s compliance with capital rules. The largest U.S. retail foreign-exchange broker, which handled $1.4 trillion of trades for individuals last quarter, said it was owed $225 million by clients.