GAIN Capital Completes Sale of GTX ECN to Deutsche Börse’s FX Unit

[kreslik.news]

GAIN Capital Holdings, Inc. (NYSE: GCAP) has completed the sale of its institutional business unit, GTX ECN, to Deutsche Börse Group via its FX unit, 360T. The largest retail broker in the US received proceeds of $85 million, net of taxes and transaction-related expenses and fees. The total purchase price was $100 million, as previously announced last month.

The completion of this transaction is an important step in GAIN Capital’s strategic portfolio repositioning as the brokerage work to streamline the business model and create opportunities for long-term growth.

GAIN Capital launched GTX in 2010 as a venue for trading in FX and ... (read more)