GCM Prime Booked a £3 Million Loss before Closing Doors

[kreslik.news]

Just a couple of years after launching operations, GCM Prime ceased trading after recording losses of over £3 million ($3.83 million). That’s according to a new report released by the firm today via the UK’s Companies House service.

The prime of prime brokerage firm’s problems can be traced back to the first few months of 2017 when Gallant Capital Markets, a retail broker known as GCMFX, filed for bankruptcy.

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Despite its similar-sounding name, GCM Prime had no connection to GCMFX. Unfortunately, rumours spread across the industry that there was indeed a ... (read more)