Shares of currency brokerage Fxcm Inc. (FXCM) are under pressure this morning, down more than 4 percent. The company disclosed that on May 21, 2015, its U.S. subsidiary, Forex Capital Markets LLC, and U.K subsidiary, Forex Capital Markets Limited, agreed to assume the vast majority of margin forex accounts of CitiFX Pro from Citibank N.A. and Citibank International Limited, which traded over $30 billion on average a month during 2014.
The New York-based online foreign exchange firm said that after the close of trading on Friday, June 26, 2015, accepted CitiFX Pro accounts will be transferred to the corresponding FXCM entity.
FXCM shares recently lost $0.05 to $1.26. In the past 52 weeks the name has traded between a low of $1.25 and a high of $17.44. Shares have plunged 90% year-over-year and 92% year-to-date.