Brandt's Biggest FX Bet Is Short EUR/JPY as Yen Strengthens
Peter Brandt's firm holds its largest futures and FX position in a short EUR/JPY trade as the yen gains on intervention and rate expectations.
AvaTrade has agreed to buy FXCM from Jefferies' Stratos Group, with the transfer expected to take about 120 days.
Under an agreement with Jefferies’ Stratos Group, a 25-year veteran of the Forex industry is joining AvaTrade’s multi-asset ecosystem. FXCM clients around the world will get access to AvaTrade’s AI-powered platforms.
The FXCM business is being acquired by AvaTrade under a definitive agreement with Stratos Group International, LLC, a company owned by Jefferies Financial Group Inc. (NYSE: JEF). AvaTrade, a leading global online trading broker, said today that AvaTrade Markets Ltd. will take over substantially all of Stratos’ assets and business operations, with the move to AvaTrade expected to take about 120 days.
FXCM, which was founded in 1999, was a pioneer in retail Forex trading and has amassed a loyal client base worldwide over more than two decades.
“Our ambition is to help shape the next phase of global online trading,” Daire Ferguson, CEO of AvaTrade, said. “Combining FXCM’s established market presence with AvaTrade’s technology and product innovation lets us expand our global reach and build a stronger, more diversified trading group.”
The deal comes after AvaTrade introduced its AI-powered trading platform and several technology initiatives, signalling continued investment in technology, infrastructure and talent as the company expands internationally.
“Leading trading companies now have to combine trust, innovation and global access,” Ferguson continued. “This deal advances our strategy to expand internationally, broaden our multi-asset offering and keep investing in AI to support traders at every level. We look forward to welcoming FXCM clients to AvaTrade.”
About AvaTrade
AvaTrade, which was set up in 2006, is a leading global online trading broker with a product line covering Futures, Options and CFDs on Forex, Commodities, Indices, Stocks and Crypto-related products, as well as Copy Trading solutions. The broker is subject to regulation in multiple international jurisdictions, has collected more than 100 industry awards and is an official partner of the Oracle Red Bull Racing team.
About FXCM
FXCM, also dating to 1999, is a leading provider of online FX trading, CFD trading and related services. Traders around the world gain access to the largest and most liquid market anywhere through innovative tools, expert education and strict financial standards.
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Peter Brandt's firm holds its largest futures and FX position in a short EUR/JPY trade as the yen gains on intervention and rate expectations.
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