Forex

The FXCM Group announced today that it has changed the name of its subsidiary, FXCM LLC to FXCM Futures LLC. The purpose of the name change is to avoid confusion between Forex Capital Markets LLC and FXCM Futures LLC.



FXCM Futures LLC is a Futures Commission Merchant (FCM) and will be offering exchange traded futures products. The firm has not yet started to accept clients.



Forex Capital Markets LLC is a Forex Dealer Member (FDM), a sub-category of Futures Commission Merchants. Clients opening accounts through the website www.fxcm.com are trading through Forex Capital Markets LLC.



Both firms are listed on the CFTC�s Monthly Report �Selected Financial Data for Futures Commission Merchants� available at http://www.cftc.gov/tm/tmfcm.htm; which enables the public to see the net capital of all FCMs.



This report has gained attention over the last few weeks as members of the forex trading community have reacted to the NFA proposal to raise the minimum adjusted net capital requirements for Forex Dealer Members (FDM) to $5 million.



Many clients of Forex Capital Markets LLC have checked the report to see the relative standing of the firm. Should the proposed NFA capital rules go into effect, Forex Capital Markets LLC would far exceed those capital requirements. Forex Capital Markets LLC has an adjusted net capital of $55,668,469 as of May 31, 2007, the most recently released report.