Infrastructure

11:09 AM
Connect Directly
Google+
Twitter
RSS
E-Mail
50%
50%

Deutsche Bank Sells Retail FX Unit to GAIN Capital

Deutsche Bank, the world's largest FX provider to institutional investors, announced it agreed to sell its retail FX unit to GAIN Capital Holdings Inc.

Deutsche Bank, the world's largest FX provider to institutional investors, announced it agreed to sell its retail FX unit to GAIN Capital Holdings Inc.

Financial terms of the deal, which are still subject to regulatory approval, were not disclosed. As part of the agreement, Deutsche Bank said GAIN Capital will pay it based on contract volume generated by transferring customers. Meanwhile, dbFX customers can now trade on GAIN Capital's FOREX.com platform.

Deutsche Bank said that trading volumes on dbFX, which debuted in 2006, have grown every year, culminating with 2010 volumes that were 56 percent higher than the prior year.

"Now is the right time to set the business on a course for further growth under the ownership of an online retail specialist," Zar Amrolia, the global head of FX at Deutsche Bank said in a statement.

As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio

Comment  | 
Print  | 
More Insights
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - July 2014
In addition to regular audits, the SEC will start to scrutinize the cyber-security preparedness of market participants.
Video
7 Unusual Behaviors That Indicate Security Breaches
7 Unusual Behaviors That Indicate Security Breaches
Breaches create outliers. Identifying anomalous activity can help keep firms in compliance and out of the headlines.