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Hedge Fund Closures Can’t Slow Retail-Merger Flurry: Currencies

Bloomberg – FXCM Inc., the largest retail currency broker in the U.S., is leading a wave of buyouts and mergers in this corner of the $5.3 trillion-a-day foreign-exchange market as tougher regulation increases costs.

In the past month, New York-based FXCM bought a 50.1 percent stake in rival Faros Trading LLC and the American retail accounts of Alpari U.S. LLC. Gain Capital Holdings Inc. acquired Global Futures & Forex Ltd., Oanda Corp. bought Boston-based Currensee Global Inc., and Swissquote Group Holding SA (SQN) agreed to purchase competitor MIG Bank for an undisclosed price.

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