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Global Brokerage is filing for a chapter 11, an official announcement distributed via the company’s investor relations website states. The company is entering into a restarting agreement with about 70 percent of its note holders.
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The firm will also delist from NASDAQ and is parting ways with several directors and executives.
Global Brokerage is undergoing the restructuring of its obligations in order to stabilise after a tumultuous couple of years since the company got hit by the Swiss National Bank debacle. The former shareholder of FXCM ... (read more)