Skip to content
  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
wikifx

wikifx

  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
  • Toggle search form
  • Cyrus Taraporevala, CEO of State Street Global Advisors, to retire forex news
  • GB Trade FX and Tradobit to have their websites blocked in Italy forex news
  • Beeks signs £2.5M contract extension with Tier 1 customer forex news
  • IC Markets sponsors OG Esports forex news
  • Bank of America launches CashPro Forecasting forex news
  • FTC sends refunds to over 31,000 victims of Online Trading Academy forex news
  • FX week in review: Demetra Kalogerou joins Retail FX board, BDSwiss CEO, Your Bourse in Cyprus forex news
  • Spotware releases cTrader Desktop 4.1 with USD currency switch, direct crypto deposits forex news

Jefferies estimates max loss exposure due to FXCM involvement at $109.5M

Posted on 2021-10-10 By admin No Comments on Jefferies estimates max loss exposure due to FXCM involvement at $109.5M

Investment bank and financial services firm Jefferies Financial Group Inc (NYSE:JEF) has estimated that its maximum exposure to loss as a result of its involvement with FXCM Group, LLC is limited to $109.5 million. This becomes clear from the report for the quarter to end-August 2021 Jefferies filed with the Securities and Exchange Commission (SEC) on October 8, 2021.

Jefferies notes that FXCM reported total assets of $394.7 million in its latest financial statements. Jefferies’ maximum exposure to loss as a result of its involvement with FXCM is limited to the carrying value of the term loan ($58.5 million) and the investment in associated company ($51.0 million), which totaled $109.5 million at August 31, 2021. This estimate is much lower than the $123.3 million estimate reported at May 31, 2021.

Jefferies Group entered into a Forex prime brokerage agreement with FXCM in 2017. In connection with the foreign exchange contracts entered into under this agreement, Jefferies Group had $0.9 million and $2.7 million at August 31, 2021 and November 30, 2020, respectively, included in Payables, expense accruals and other liabilities in the Consolidated Statements of Financial Condition.

Jefferies’ investment in FXCM and associated companies consists of a senior secured term loan due February 15, 2022 ($71.6 million principal outstanding at August 31, 2021), a 50% voting interest in FXCM and rights to a majority of all distributions in respect of the equity in FXCM.

FXCM is a provider of online foreign exchange trading, contract for difference trading, spread betting and related services.

Many factors, most of which are outside of Jefferies’ control, can affect FXCM’s business, including the state of international market and economic conditions which impact trading volume and currency volatility, changes in regulatory requirements and other factors that directly or indirectly affect the results of operations, including the sales and profitability of FXCM, and consequently may adversely affect Jefferies’ results of operations or financial condition.

forex news Tags:forex-news

Post navigation

Previous Post: Euan Marshall, David Fineberg acquire shares in CMC Markets under incentive plan
Next Post: FX week in review: TRADANTS and BankPro launches, Crypto scam arrests, FlowBank raises $11M

Related Posts

  • ICE marks record MICRO NYSE FANG+ Index futures trading volume forex news
  • R.J. O’Brien promotes Amber Wright to Global Head of Fixed Income Rates & E-Trading Sales forex news
  • CME Group registers rise in net income in Q2 2021 forex news
  • Tickmill launches MT5 for nextgen traders forex news
  • FINRA fines Jefferies for late transaction reports forex news
  • Interactive Brokers CEO Milan Galik receives $8.5M in stock awards in 2021 forex news

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • EUR/USD Holds Near 1.05 as Fed, ECB Policies Shape Market Sentiment
  • Gold Prices Hold Steady Amid Global Economic Uncertainty
  • Australian Dollar: How RBA Policies, Commodity Prices, and Global Tensions Are Shaping the AUD’s Market Performance
  • EUR/USD: Understanding the Currency Pair’s Trends
  • USD Under Pressure: Navigating Economic Data and Global Uncertainties

TAG

Axiory Review 2022 B2B B2Broker News Basic Forex Knowledge broker brokers brokers in the UK Brokersview Broker tools CFDs coin News cryptocurrency Cryptocurrency News Crypto News dogecoin FCA news finance forex forex-news Forex Broker Forex Brokers Forex Demo Account Forex market forex news forex scams forex time Forex trading fx fxtrader fxtrading Global Forex Gold Analysis HotForex InstaForex LiteForex Review 2022 markets work MT4 MT5 news OctaFX Review Samtrade FX South Africa trade Forex traders Trading Forex
  • Former US Comptroller of the Currency stands by Citi in payment error case forex news
  • FX week in review: ADSS CEO moves to Equiti, XTB’s bad Q2, Darwinex fundraising forex news
  • CySEC announces withdrawal of AFX Capital Markets license forex news
  • Exclusive: Spreadex CEO Jonathan Hufford steps down, as revenues rise 41% in 2021 forex news
  • Exclusive: OANDA UK CEO David Hodge resigns forex news
  • FCA stops BDSwiss offering CFDs to UK customers forex news
  • DOJ stands behind testimony of ex-Morgan Stanley trader in spoofing case forex news
  • Swissquote welcomes Bellevue as its new prime partner for funds forex news

Copyright © 2025 wikifx.

Powered by PressBook News WordPress theme