US foreign exchange broker FXCM was given a US$300 million - TopicsExpress



          

US foreign exchange broker FXCM was given a US$300 million (S$397.8 million) cash injection on Friday (Jan 16) after client losses on the sharp surge in the Swiss Franc left it on weak capital footings. The funds came from Leucadia National Corp in the form of a secured two-year term loan with a hefty 10 per cent interest rate, the two firms said in a statement. The loan will permit FXCM to meet its regulatory-capital requirements and continue normal operations after yesterdays loss of US$225 million due to the unprecedented actions of the Swiss National Bank.
Posted on: Sat, 17 Jan 2015 00:27:56 +0000

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