FXCM is in trouble...
*FXCM: CLIENTS EXPERIENCED SIGNIFICANT LOSSES AFTER SNB MOVE
*FXCM: NEGATIVE EQUITY BALANCES OWED TO FXCM ABOUT 2225M
*FXCM: MAY BE IN BREACH OF SOME REGULATORY CAPITAL REQUIREMENTS
*FXCM DISCUSSING ALTERNATIVES TO RETURN CAPITAL TO PRIOR LEVELS
FXCM an online provider of forex trading and related services worldwide, announced today due to unprecedented volatility in EUR/CHF pair after the Swiss National Bank announcement this morning, clients experienced significant losses, generated negative equity balances owed to FXCM of approximately $225 million.
As a result of these debit balances, the company may be in breach of some regulatory capital requirements.
Trading in the shares was delayed by the New York Stock Exchange pending news.
"Absent an overnight capital raise FXCM will not be able to conduct business," said Credit Suisse in a client note.
*FXCM: NEGATIVE EQUITY BALANCES OWED TO FXCM ABOUT 2225M
*FXCM: MAY BE IN BREACH OF SOME REGULATORY CAPITAL REQUIREMENTS
*FXCM DISCUSSING ALTERNATIVES TO RETURN CAPITAL TO PRIOR LEVELS
FXCM an online provider of forex trading and related services worldwide, announced today due to unprecedented volatility in EUR/CHF pair after the Swiss National Bank announcement this morning, clients experienced significant losses, generated negative equity balances owed to FXCM of approximately $225 million.
As a result of these debit balances, the company may be in breach of some regulatory capital requirements.
Trading in the shares was delayed by the New York Stock Exchange pending news.
"Absent an overnight capital raise FXCM will not be able to conduct business," said Credit Suisse in a client note.
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