FXCM Said to Be in Talks With Jefferies for $200 Million Rescue

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FXCM Inc. (FXCM), the largest U.S. retail foreign-exchange brokerage, is in talks to raise about $200 million from Jefferies, people with knowledge of the matter said. The people asked not to be identified discussing private information. The company, which handled a record $1.4 trillion of trades by individuals last quarter, said earlier that clients owe $225 million on their accounts after the Swiss National Bank’s decision to abandon the franc’s cap against the euro roiled markets worldwide. “Clients experienced significant losses” after the franc surged, FXCM said in a statement dated Jan. 15. The brokerage’s shares dropped 15 percent in New York trading yesterday to an almost two-year low, leaving the company valued at about $596 million. It’s shares were halted today, pending news. A spokesman for Jefferies declined to comment, while a representative for FXCM didn’t immediately respond to phone and e-mail messages seeking comment. To contact the reporter on this story: Matthew Monks in New York at mmonks1@bloomberg.net

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