GAIN Capital Acquires U.S.-Based Retail Customer Accounts of FX Solutions LLC
BEDMINSTER, New Jersey, Feb. 22, 2013
BEDMINSTER, New Jersey, Feb. 22, 2013 /PRNewswire/ --GAIN Capital Holdings,
Inc. ("GAIN") (NYSE: GCAP), a leading global provider of online trading
services, announced today that it has reached an agreement to acquire the
U.S.-based retail customer accounts of FX Solutions LLC, an affiliate of City
Index Group. Financial terms of the transaction were not disclosed.
GAIN Capital Group LLC, the U.S. regulated entity of GAIN Capital Holdings,
Inc., agreed to acquire the U.S.-based retail customer accounts currently held
at FX Solutions LLC. The transfer of FX Solutions LLCs' U.S.-based customers
is scheduled for Friday, March 1, 2013, after the close of trading.
"We are pleased to welcome FX Solutions LLC's customers to FOREX.com," said
Glenn Stevens, CEO, GAIN Capital. "We will work closely with the team at FX
Solutions to ensure no interruption in service and a smooth transition of
their customers' accounts and assets."
"As part of a global strategic review, FX Solutions LLC, an affiliate of City
Index Group, will no longer be offering a retail foreign exchange services in
the U.S. This will allow the Group to focus its efforts on growing the FX
Solutions brand in the Middle East and Asia, where it has already seen
tremendous success," commented Martin Belsham, CEO of City Index Group. "The
transfer of FX Solution LLC's U.S.-based customers to GAIN Capital will ensure
they continue to receive an excellent service from a leading US retail FX
This is GAIN Capital's second acquisition of U.S.-based retail forex accounts
in the past three months. In December 2012, GAIN Capital acquired the
U.S.-based retail forex business of GFT Forex ("GFT").
About GAIN Capital
GAIN Capital Holdings, Inc. (NYSE: GCAP) is a global provider of online
trading services. GAIN's innovative trading technology provides market access
and highly automated trade execution services across multiple asset classes,
including foreign exchange (forex or FX), contracts for difference (CFDs) and
exchange-based products, to a diverse client base of retail and institutional
Through our retail brand, FOREX.com, we provide retail traders around the
world with access to a variety of global OTC financial markets, including
forex, precious metals and CFDs on commodities and indices. GAIN Capital also
operates GTX, a fully independent FX ECN for hedge funds and institutions;
OEC, an innovative online futures broker; and GAIN Securities, Inc. (member
FINRA/SIPC) a licensed U.S. broker-dealer.
GAIN Capital and its affiliates have offices in New York City; Bedminster, New
Jersey; London; Sydney; Hong Kong; Tokyo; Singapore; Beijing; and Seoul.
For further company information, visit www.gaincapital.com
About City Index Group
City Index Group is one of the leading global providers of retail trading
services. City Index trading platforms give access to thousands of derivatives
on global financial markets such as margined foreign exchange (FX). The Group
trades primarily under the City Index, Finspreads and FX Solutions brands and
also provides a fully outsourced white label solution to numerous partners.
For further company information, visit www.cityindex.com
Contact: Media Contacts, GAIN Capital, Mike Geller, Edelman for GAIN Capital,
+1-212-729-2163, email@example.com; or Investor Relations Contact, Hugh
Collins, MBS Value Partners , +1-212-223-4632, firstname.lastname@example.org; or FX
Solutions LLC, Michelle Welk, SSPR for FX Solutions LLC, +1-609-750-9114,
Mwelk@sspr.com, or Jennifer Headley, SSPR for FX Solutions LLC,
Press spacebar to pause and continue. Press esc to stop.