CitiFX Pro, a forex broker of Citigroup, seems to come on market for sale as the company needs to meet the needed liquidity conditions, Finance Magnates informed on Tuesday.
Most of the financial market has been hit by the unexpected move of the Swiss National Bank (SNB), which removed its more than two-year held cap on EUR/CHF, a sufferred from related losses in majority of the brokerage houses. Citigroup does not seem to be an exception in this case.
Clients of CitiFX Pro are mostly institutional and according to information of Finance Magnates, mostly US citizens, creating a pool over $50M, but the broker is still dependent on bank's prime broking unit.
Such steps does not seem to be that much surprising, as couple of key forex players sufferred from SNB's step impact, with the major one FXCM, struggling to repay Leucadia.
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