It has been just over a week, since the FXCM has announced the sale of it’s Japanese unit to Rakuten, to be sealed on the 1st of April 2015. A few days have passed the take over date and in today’s announcement of FXCM Japan made public to its customers, the brokerage have officially validated that FXCM Japan Securities Co. is forthwith a Rakuten Securities subsidiary.
In the previous article, it was stated that the final acquisition price of FXCM Japan had been set at $62 million, depending on the various factors this could have been altered. However, according to today’s confirmation of FXCM Japan sale to Rakuten, the specified amount has been untouched, whilst the deal has been officially sealed on the planned 1st of April, without any complications.
Even though the acquisition has been finalized between both parties, the actual transition takes up to 18 months, with FXCM still on the forefront of aiding Rakuten Securities. Reportedly, FXCM will still be responsible for the ongoing technical and operational support of the Japanese Unit.
Having this arrangement in place, it is evident that the president of FXCM Japan, Mr. Kazunori Iida have reassured the existing customers of the ongoing brokerage’s exceptional services and availability of its MT4 trading platform. Additionally, he commented that the clients will still be able to utitlise the benefits of the FXCM’s NDD model.
Last but not least, for FXCM this successful proceeding has been of great advantage for the financial entity. Evidently, the brokerage have managed to adhere to the set bailout terms of Leucadia, with the retrieved funds of this particular sale.