FXCM to Forgive Majority of Clients Who Incurred Negative Balances

FXCM Inc.announced today its decision to forgive approximately 90% of its clients who incurred negative balances in certain jurisdictions, on January 15, 2014 as a result of the Swiss National Bank announcement on that date. FXCM will notify the applicable clients and adjust applicable client account statements in the next 24-48 hours.

«FXCM worked diligently to reach this decision and we are extremely appreciative of our clients for their patience and loyalty as we worked through this,» said Drew Niv, CEO of FXCM.

The SNB announcement, extreme price movements and the resulting lack of liquidity were exceptional and unprecedented events causing many market participants to incur trading losses. These events were unforeseen and beyond the control of FXCM.

FXCM will also notify certain clients (such as institutional, high net worth, and experienced traders who generally maintain higher account balances) requesting payment of negative balances, pursuant to the terms of the FXCM master trading agreements.  This group represents approximately 10% of clients who incurred negative balances  which comprises over 60% of the total debit balances owed.

http://www.zerohedge.com/news/2015-01-28/another-bailout-fxcm-forgive-90-its-mostly-foreign-negative-balance-customers 

Заявление ШНБ вызвало экстремальные движения цен и в результате нехватку ликвидности, что было исключительным и беспрецедентным событием, в результате чего многие участники рынка взяли на себя торговые потери. Эти события были непредвиденными и не зависящими от FXCM.