FXCM Group Says It Holds No Obligation On Global Brokerage's Debt

(RTTNews) - FXCM Group LLC (LUK) Monday revealed its relationship with Global Brokerage Inc. (GLBR) and said any adverse developments at GLBR have no impact on FXCM or its ability to service its customers.

Global Brokerage is holding 50.1 percent equity ownership and a minority economic interest of FXCM. At the same time, FXCM has no responsibility or obligation for GLBR's debt or other obligations.

Jimmy Hallac, Managing Director of Leucadia and Chairman of FXCM Group said, "FXCM has had solid operating performance in a challenging market environment and has come a long way in reducing its debt and strengthening its balance sheet. Customers should feel confident trading with FXCM as their FX and CFD provider."

FXCM has an outstanding loan of $66.7 million on Leucadia National Corporation and has used $46.7 million of proceeds from the sale of its stake in FastMatch to pay down the loan and looks forward for additional paydown.