FXCM Acquires Majority Interest in Faros Trading

Foreign exchange trading services provider FXCMannounced Monday it is acquiring a 50.1% controlling interest in market intelligence provider Faros Trading for an undisclosed sum.

Stating he believed the acquisition would extend the trading services provider's market reach, FXCM CEO Drew Niv said in a statement, "The acquisition of Faros expands FXCM's institutional business, adding industry leading market intelligence and client services to the execution platforms we offer now."

In a statement to TheWall Street Journal, Faros CEO Ray Kamrath said the deal would allow the market intelligence firm to grow faster as it helped FXCM add a more personal touch to its institutional services.

Faros provides foreign exchange intelligence, market coverage, and execution services to institutional foreign exchange markets. FXCM is headquartered in New York city while Faros Trading is located in Stamford, Conn.


The article FXCM Acquires Majority Interest in Faros Trading originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story