UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): October 13, 2015
FXCM Inc.
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 001-34986 | 27-3268672 | ||
| (State or Other Jurisdiction of | (Commission File Number) | (IRS Employer | ||
| Incorporation) | Identification No.) |
55 Water Street, FL 50, New York, NY, 10041
(Address of Principal Executive Offices) (Zip Code)
(646) 432-2986
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 Regulation FD Disclosure
On October 13, 2015, FXCM Inc. issued a press release regarding its monthly business metrics for September 2015. The text of the press release is furnished as Exhibit 99.1 to this Form 8-K.
The information in this Current Report on Form 8-K and the Exhibit attached hereto is furnished pursuant to the rules and regulations of the Securities and Exchange Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
| (a) | Financial statements of businesses acquired: None |
| (b) | Pro forma financial information: None |
| (c) | Shell company transactions: None |
| (d) | Exhibits: Press release, dated October 13, 2015, issued by FXCM Inc. |
| Exhibit No. | Exhibit Description | |
| 99.1** | Press Release dated October 13, 2015 |
** Furnished herewith.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FXCM INC. | |||
| By: | /s/David S. Sassoon | ||
| Name: | David S. Sassoon | ||
| Title: | General Counsel | ||
Date: October 13, 2015
Exhibit Index
| Exhibit No. | Description | |
| 99.1 | Press Release dated as of October 13, 2015 |
Exhibit 99.1
FXCM Reports Monthly Metrics
NEW YORK, October 13, 2015 — FXCM Inc. (NYSE:FXCM) today announced certain key customer trading metrics for September 2015 for its retail and institutional foreign exchange business.
Monthly activities included:
September 2015 Customer Trading Metrics from Continuing Operations (1)
Retail Customer Trading Metrics
| · | Retail customer trading volume(2) of $326 billion in September 2015, 1% lower than August 2015 and 10% lower than September 2014. Volume from indirect sources was 38% of total retail volume(2) in the third quarter 2015. |
| · | Retail customer trading volume(2) for the third quarter 2015 was $972 billion, 3% lower than the second quarter 2015, and 11% higher when compared to third quarter 2014. |
| · | Average retail customer trading volume(2) per day of $14.8 billion in September 2015, 6% lower than August 2015 and 10% lower than September 2014. |
| · | An average of 564,711 retail customer trades per day in September 2015, 5% lower than August 2015 and 29% higher than September 2014 |
| · | Active accounts (3) of 180,121 as of September 30, 2015, a decrease of 601, or 0.3%, from August 2015, and an increase of 21,885, or 14%, from September 2014. |
| · | Tradeable accounts(4) of 160,350 as of September 30, 2015, an increase of 2,050, or 1% from August 2015, and a decrease of 9,274, or 5%, from September 2014. |
Institutional Customer Trading Metrics
| · | Institutional customer trading volume(2) of $47 billion in September 2015, flat from August 2015 and 44% lower than September 2014. |
| · | Institutional customer trading volume(2) for the third quarter 2014 was $131 billion, 22% higher than the second quarter 2015 and 40% lower than the third quarter 2014. |
| · | Average institutional trading volume(2) per day of $2.1 billion in September 2015, 9% lower than August 2015 and 45% lower than September 2014. |
| · | An average of 29,856 institutional client trades per day in September 2015, 15% lower than August 2015 and 99% higher than September 2014. |
More information, including historical results for each of the above metrics, can be found on the investor relations page of the Company's corporate web site, www.fxcm.com.
This operating data is preliminary and subject to revision and should not be taken as an indication of the financial performance of FXCM Inc. FXCM undertakes no obligation to publicly update or review previously reported operating data. Any updates to previously reported operating data will be reflected in the historical operating data that can be found on the Investor Relations page of the Company's corporate web site, www.fxcm.com.
(1) Customer Trading Metrics from Continuing Operations excludes discontinued operations of FXCM Japan and FXCM Hong Kong. As of September 2015, the Operating Metrics have been restated from January 2014 – March 2015 to separate Continuing and Discontinued Operations. The percentage changes versus last year reflect the Operating Metrics for Continuing Operations only.
(2) Volume that FXCM customers traded in period is translated into US dollars.
(3) An Active Account represents an account that has traded at least once in the previous twelve months.
(4) A Tradeable Account is an account with sufficient funds to place a trade in accordance with FXCM trading policies.
Disclosure Regarding Forward-Looking Statements
Certain statements contained herein may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and/or the Private Securities Litigation Reform Act of 1995, which reflect FXCM's current views with respect to, among other things, its operations and financial performance in the future, and the potential impact to FXCM of the cybersecurity incident described in a press release distributed on October 1, 2015. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about FXCM's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict including, without limitation, risks associated with the events that took place in the currency markets on January 15, 2015 and their impact on FXCM's capital structure, risks associated with FXCM's ability to recover all or a portion of any capital losses, risks relating to the ability of FXCM to satisfy the terms and conditions of or make payments pursuant to the terms of the credit agreement with Leucadia, risks related to FXCM's dependence on FX market makers, market conditions, risks associated with the outcome of any potential litigation or regulatory inquiries to which FXCM may become subject as a result of this cybersecurity incident, risks associated with potential reputational damage to FXCM resulting from this cybersecurity incident, the outcome of FXCM's ongoing investigation (including FXCM's potential discovery of additional information relating to this cybersecurity incident) and the extent of remediation costs and other additional expenses that may be incurred by FXCM as a result of this security incident, and those other risks described under "Risk Factors" in FXCM Inc.'s Annual Report on Form 10-K and other reports or documents FXCM files with, or furnishes to, the SEC from time to time, which are accessible on the SEC website at sec.gov. This information should also be read in conjunction with FXCM's Consolidated Financial Statements and the Notes thereto contained in FXCM's Annual Report on Form 10-K, and in other reports or documents the FXCM files with, or furnishes to, the SEC from time to time, which are accessible on the SEC website at sec.gov.
About FXCM Inc.
FXCM Inc. (NYSE:FXCM) is a leading provider of online foreign exchange (FX) trading, CFD trading, spread betting and related services. Our mission is to provide global traders with access to the world's largest and most liquid market by offering innovative trading tools, hiring excellent trading educators, meeting strict financial standards and striving for the best online trading experience in the market.
Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. In addition, FXCM offers educational courses on FX trading and provides free news and market research through DailyFX.com.
Trading foreign exchange and CFDs on margin carries a high level of risk, which may result in losses that could exceed your deposits, therefore may not be suitable for all investors. Read full disclaimer.
Visit www.fxcm.com and follow us on Twitter @FXCM, Facebook FXCM, Google+ FXCM or YouTube FXCM.
CONTACT: FXCM Inc.
Jaclyn Klein, 646-432-2463
Vice-President, Corporate Communications
jklein@fxcm.com
investorrelations@fxcm.com