Former GFT Manager Of Global Risk On FXCM: 'This Shows That There's Inherent Issues Across The Board'

When asked about the effects of last week’s Swiss National Bank announcement on forex brokerages like FXCM Inc FXCM, ThinkLiquidity Founder Jeff Wilkins told Benzinga that he thinks its bad for the overall industry for companies of that size to be exposed like they were.

Wilkins used to run global risk at GFT Capital, which was bought by Gain Capital Holdings Inc GCAP.

“That just shows that 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 that 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. Wilkens said none of his customers are dealing with this type of situation right now.

FXCM halted trading on Friday, while Gain is priced around $8.52 right now.