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FXCM Group closes sale of FastMatch stake

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FXCM Group closes sale of FastMatch stake

FXCM Group LLC completed on Aug. 14 the disposition of FastMatch shares to Euronext U.S. Inc. for $55.4 million in consideration, a few months after Euronext NV announced that it will acquire about a 90% stake in the electronic communication network.

Of the $55.4 million in consideration, $8.7 million will be held in escrow and is subject to future adjustments, including a share of a $10 million earnout if certain FastMatch performance targets are met.

Global Brokerage Inc. has an indirect 37.3% ownership interest and an up to 33.5% effective economic interest in FXCM Group.