Report: FXCM Turns To Jefferies To Plug $200 Million Hole
FXCM Inc (NYSE: FXCM) is in talks with an investment bank to raise $200 million that could plug a hole left by this week's stunning rise in the Swiss franc.
The U.S. retail foreign-exchange broker said Wednesday that turmoil in currency exchange generated "negative equity balances owed to FXCM" of some $225 million, and that it "may be in breach of some regulatory capital requirements."
FXCM shares were halted for news Friday, after falling as much as 85 percent in the premarket.
The stock is down about 25 percent this week to $12.63.
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