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
  • Undercover FBI agent helps SEC bust fraudulent securities scheme forex news
  • Exness sets volume record with July at $974.5 billion forex news
  • Sweden’s FI deregisters Depaho/FXGM forex news
  • New FX/CFDs brand Axiance sponsors Copa del Rey de Vela yacht forex news
  • Binance to cease offering options and leveraged tokens in South Africa forex news
  • 360T selects FairXchange for trade and pricing data analytics forex news
  • Citi ordered to produce material related to DOJ FX spot market investigation forex news
  • Diego Rotsztain acquires more shares in StoneX 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

  • CFTC slams BitMEX co-founder for attempt to avoid litigation forex news
  • FlexTrade integrates Tradefeedr to enhance quality of FX trading decisions forex news
  • Tradefeedr adds PIMCO alum Michal Marcek to its Advisory Group forex news
  • TraderEvolution adds options trading and analysis tools to its mobile apps forex news
  • Bostonmex Review 2022: Is Bostonmex Legit or a Scam? forex news
  • Aspire Commodities to pay $700,000 fine for violations of ICE rules 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
  • Exclusive: Equiti Capital posts 17% rise in 2020 Revenue to $33.1 million forex news
  • SIX Digital Exchange gets ready for next development stage forex news
  • FINRA fines Aegis Investments for deficient AML program testing forex news
  • Cboe to introduce “Hard to Borrow List” functionality forex news
  • Google offers $3M ads credit to FCA to protect consumers from scams forex news
  • TradeStation Securities adds Micro Ether futures from CME to offering forex news
  • BGC Partners appoints Arthur Mbanefo to Board of Directors forex news
  • CFTC still in the dark about death of John McAfee forex news

Copyright © 2025 wikifx.

Powered by PressBook News WordPress theme