FXCM Buys 50.1% Stake In Faros Trading; Terms Not Disclosed - Quick Facts

(RTTNews) - FXCM Inc. (FXCM), a provider of online foreign exchange trading services, announced Monday that it has acquired a 50.1 percent controlling interest in Faros Trading LLC. The company did not disclose the financial terms of the deal.

Faros Trading is a provider of foreign exchange intelligence, market coverage, and execution services to the institutional foreign exchange market. The company helps clients make money by providing provocative, thoughtful, and value added research.

The company said that it has not released any further details of the transaction at this time.

FXCM CEO Drew Niv said, "The acquisition of Faros expands FXCM's institutional business, adding industry leading market intelligence and client services to the execution platforms we offer now. The combination should expand our market reach and deliver a compelling suite of services to institutional FX traders."