Company Update (NYSE:FXCM): FXCM Inc and PFSOFT Announce New Partnership

FXCM Inc (NYSE:FXCM), a leading online provider of foreign exchange, or FX, trading and related services, announced its partnership with PFSOFT, a developer of professional trading software for banks, prime brokers and retail brokers. FXCM will provide trade execution and market data to the PFSOFT Protrader multi-asset solution through FIX API.

Striving to create an exceptional solution, PFSOFT has integrated FXCM’s FIX API, which offers both FX and CFD execution. As a result of this collaboration every broker who uses the Protrader solution will be able to access FXCM’s unique capabilities in both FX and CFD performance.

“PFSOFT is excited to offer our partners a fully integrated feed from FXCM,” said Roman Nalivayko, Global Head of Business Development of PFSOFT. “Combining the Protrader solution with FXCM’s robust liquidity we have created one of the world’s leading trading solutions for FX and CFD brokers.”

Brandon Mulvihill, Managing Director of FXCM Pro stated, “PF SOFT is a long time specialist in the field of multi asset platform functionality. FXCM’s FX execution performance handles on average over 500,000 trades per day, and our newly developed enhanced CFD execution model was built to handle automated trading on products such as index CFDs. As brokers today mandate best in breed models, the combination of FXCM’s FX and CFD expertise coupled with PF SOFT’s array of instruments offered is an extremely robust and powerful combination for brokers globally.”

FXCM recently announced an important enhancement of their market making technology for CFD trading; allowing scalpers and algo traders to trade index CFDs without trade restrictions. FXCM’s back office allows for the combination of FX and CFD trading settling via one account. In addition, FXCM expressed readiness to offer a credit facility to qualified Protrader brokers. Qualification standards occur through FXCM’s credit review process. (Original Source)

Shares of FXCM Inc closed last Friday at $13.6, down $0.59 or -4.16%. FXCM has a 1-year high of $171.80 and a 1-year low of $5.26. The stock’s 50-day moving average is $10.11 and its 200-day moving average is $10.08.

FXCM Inc is an online provider of foreign exchange trading and related services to retail and institutional customers. It offers its customers the ability to trade contract for differences, spread betting, equities and equity options.

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