Credit Suisse Downgrades FXCM Inc (FXCM) Two-Notches to Underperform

Credit Suisse downgraded FXCM Inc (NYSE: FXCM) from Outperform to Underperform with a price target of $4.00 (from $18.00) after the company said as a result of the Swiss currency move its clients experienced significant losses, generating a negative equity balances owed to FXCM of approximately $225 million.

Analyst A. Serreo said while details are sparse they "believe FXCM's liquidity provider stopped making markets in the Swiss Franc leaving the company unable to close losing client positions as the cushion provided by client collateral was absorbed."

For an analyst ratings summary and ratings history on FXCM Inc click here. For more ratings news on FXCM Inc click here.

Shares of FXCM Inc closed at $12.63 yesterday.

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