06 May 2010
ODL Group Limited, a leading, independent forex, derivatives, equities and commodities broker, has appointed Abchurch to advise on its agreed acquisition by US-based FXCM Holdings LLC, a leading global forex broker that caters to both retail and institutional markets.
London-based ODL, which has a strong UK and European business, will provide an excellent complement to FXCM's sizeable operations in both the United States and Asia. The combined companies will operate as one of the largest non-bank forex brokers globally servicing over 200,000 live trading accounts with combined client assets in excess of US$800 million. The deal, which is still pending final due diligence review and regulatory approval, is the first in an anticipated wave of consolidation in the FX brokerage market following increased regulatory burdens introduced post the global economic crisis.
Abchurch Communications, one of the UK’s leading financial, corporate and investor communications consultancies has advised on all aspects of media strategy with the international business and FX related media. In particular, Abchurch has communicated the numerous benefits of the combined group to the current customers of FXCM and ODL.
Headquartered in London, with affiliates in Australia and Turkey, ODL has over 200 staff globally and clients from over 100 countries. ODL Securities offers Retail, IB and White Label clients an integrated approach to trading diverse financial products. The Group companies now trade under the names ODL Markets in the UK (for retail business).
Leading the Abchurch account is Henry Harrison-Topham, Managing Director supported by Nick Probert, Account Manager.
Tel: +44 (0)20 7398 7702