FXCM
Inc. (NYSE: FXCM), a leading online provider of foreign exchange, or
FX, trading and related services, today announced that its board of
directors has authorized the repurchase of up to $30,000,000 of its
Class A common stock and/or FXCM Holdings, LLC units. Under this
program, shares may be repurchased from time to time in open market
transactions, in privately negotiated transactions or otherwise.
The timing and amount of any shares repurchased will depend upon a
variety of factors, including market conditions, share price, capital
availability, legal requirements and other factors. FXCM is not
obligated to purchase any shares under the repurchase program. The
repurchase program does not have an expiration date and repurchases may
be commenced or suspended at any time or from time to time without prior
notice.
As of March 31, 2011, FXCM had 17,319,000 shares of its Class A common
stock issued and outstanding and $202,400,000 in cash and cash
equivalents.
"FXCM remains confident that our strategy, global scale and a strong
capital position will enable the company to continue to lead the global
retail FX marketplace,” said Drew Niv, Chief Executive of FXCM. "Since
our inception, we have been focused on shareholder returns, a focus
evident in our disciplined approach to acquisitions and practice of
paying dividends. The introduction of this share repurchase program
gives us another tool for delivering those returns. "
About FXCM, Inc.
FXCM
Inc. is a global online provider of foreign exchange (forex) trading
and related services to retail and institutional customers worldwide.
At the heart of FXCM's client offering is No Dealing Desk forex trading.
Clients benefit from FXCM's large network of forex liquidity providers
enabling FXCM to offer competitive spreads on major currency pairs.
Clients have the advantage of mobile trading, one-click order execution,
and trading from real-time charts. FXCM's UK subsidiary, Forex Capital
Markets Limited, also offers CFD products with no re-quote trading and
allows clients to trade forex, oil, gold, silver, and stock indices on
one platform. In addition, FXCM offers educational courses on forex
trading and provides free news and market research through DailyFX.com.
All references to "FXCM" refer to FXCM, Inc. and its consolidated
subsidiaries.
Forward Looking Statement:
Forward-looking statements in this release are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. A variety of important factors could cause results to differ
materially from such statements. These factors are noted in
FXCM
Inc.'s filings with the Securities and Exchange Commission, particularly
FXCM Inc.’s Annual Report on Form 10-K, filed with the Securities and
Exchange Commission on March 31, 2011. These factors include, but are
not limited to, the actions of both current and potential new
competitors, fluctuations in market trading volumes, financial market
volatility, evolving industry regulations, errors or malfunctions in our
systems or technology, rapid changes in technology, effects of
inflation, customer trading patterns, the success of our products and
service offerings, our ability to continue to innovate and meet the
demands of our customers for new or enhanced products, our ability to
successfully integrate assets and companies we have acquired, changes in
tax policy or accounting rules, fluctuations in foreign exchange rates,
adverse changes or volatility in interest rates, as well as general
economic, business, credit and financial market conditions,
internationally or nationally. The forward-looking statements included
herein represent FXCM Inc.’s views as of the date of this release and
FXCM Inc. believes that forward-looking statements made by it are based
on reasonable expectations.
FXCM Inc. undertakes no obligation to
revise or update publicly any forward-looking statement for any reason
unless required by law.
