Credit Suisse Anticipates a Record-Setting September Report from FXCM

In a report published Thursday, Credit Suisse analyst Ashley N. Serrao reiterated an Outperform rating and $17.00 price target on FXCM (NYSE FXCM). In the report, Credit Suisse noted, “We believe FXCM will post record volumes this month. Our analysis suggests that FXCM is likely to post at least $450 billion in retail volumes and our $300 billion in institutional volumes as FX volatility roared back to life and average trading ranges expanded in September on the heels of several macroeconomic factors. The CVIX and the JPM G7 index, standard measures of FX volatility were both up ~30% mth/mth.” FXCM closed on Wednesday at $15.65.