Former GFT Manager Of Global Risk On FXCM: 'This Shows There's Inherent Issues Across The Board'
When asked about the effects of last week’s Swiss National Bank announcement, ThinkLiquidity Founder Jeff Wilkins told Benzinga he thinks it's bad for the overall industry that companies as large as FXCM Inc (NYSE: FXCM) are exposed to such a high level of risk.
Wilkins used to run global risk at GFT Capital, which was bought by Gain Capital Holdings Inc (NYSE: GCAP).
“That just shows there’s inherent issues across the board, so there’s going to be massive changes,” he said, adding that it might take some time.
Wilkins also thinks there will be a lot of people looking to buy these companies that are in a cash crunch now. He explained that a lot of them have very good businesses, so they could be attractive to potential buyers.
ThinkLiquidity is a risk management company. Wilkins said none of his customers are dealing with this type of situation right now.
FXCM halted trading on Friday, while Gain is priced around $8.50.
Latest Ratings for FXCM
|May 2015||Keefe Bruyette & Woods||Maintains||Underperform|
|Mar 2015||Keefe Bruyette & Woods||Downgrades||Market Perform||Underperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.