Although no official confirmation had been provided by the time the weeklyFiX went to press, well-placed sources say that the 35% stake in FXCM owned by disgraced broker Refco was sold for a figure of around $60 million. Refco had paid a total of $42 million for the stake, which it purchased in 2002 (20%) and 2003 (15%).
If confirmed, the number would suggest that FXCM has faced a significant downturn in business over the past two years.
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