FXCM Grabs 50% Controlling Stake In Lucid Markets

Reuters/Susana Vera/Files

The Wall Street Journal MarketWatch – By Eva Szalay – June 14, 2012

LONDON–Retail foreign exchange broker FXCM Inc. snapped up a 50% controlling stake in boutique computer-model driven trading firm Lucid Markets Trading Ltd. Thursday, in a deal that underscores the growing clout of these new, often high-speed trading firms.

U.K.-based Lucid Markets has seen a stellar rise in its status in the traditionally banks-dominated field of price-making, trading $113.4 trillion in 2011, with only four days of losses since its inception in 2009. The biggest one-day loss was less than $70,000, according to a person familiar with the matter.

U.S.-based FXCM said in a statement it will pay $176 million for the controlling share in Lucid, the biggest ever acquisition the company has undertaken, with a view to extending its capabilities in the institutional currency markets. FXCM traditionally serves individual margin traders, but it has in recent years made a push into the institutional space.

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