FXCM Falls 85% Following Swiss Currency Move, Interactive Brokers And Gain Capital Also Fall

Shares of FXCM Inc (NYSE: FXCM) fell more than 85 percent in Friday’s premarket, adding to Thursday’s 15 percent decline following the decision of the Swiss National Bank to remove its currency peg against the Euro.

FXCM recently traded at $10.85.

In a press release issued Thursday, the company said that “due to unprecedented volatility in EUR/CHF pair after the Swiss National Bank announcement this morning, clients experienced significant losses, generated negative equity balances owed to FXCM of approximately $225 million.”

The “company may be in breach of some regulatory capital requirements” as a result of the debit balances and is “actively discussing alternatives” to resolve the issue.

Interactive Brokers Group, Inc. (NASDAQ: IBKR) was also down more 11 percent in a potential sympathy play and recently traded at $24.95.

Another potential sympathy move is Gain Capital Holdings Inc (NYSE: GCAP), which is down 20 percent.