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Contributors FX Alliance Inc. (FXall) Prepares for an IPO on the NYSE.
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FX Alliance Inc. (better known as FXall) is preparing to go public on the New York Stock Exchange (NYSE). We know this because they filed their IPO plans with regulators back in September.

There’s one big distinction between this company and the other two that have gone public (FXCM and Gain Capital). Those firms service the retail side of the market while FXall focuses largely on the institutional side of the market. You can find out more about them and what they do here:

A couple of things we do know about them:

In the first nine months of 2011, they earned a net income of $18.3 million on revenue of $88.7 million. The other thing that we know if that they already earned more in nine months in 2011 than in all of 2010 where they earned $16 million in income on revenue of $73.5 million. So this New York based company is making progress…even in a very tough year (2011).

It looks like the investnment banks of Bank of America and Goldman Sachs will be handling the IPO. There could be other investment banks involved but these are the ones I’ve heard mentioned thus far.

So the “forex world” is growing up and coming of age. It’s getting more widely known and more “mainstream” all the time. Once this stock goes public (likely under symbol: FX), then it will be the third forex company to go public.

As all of these companies use their huge capital infusions from going public, they’ll grow by leaps and bounds with that huge “shot in the arm” of new capital.

It’s exciting times we’re living in. I’m glad to see more and more forex firms going public. It just further legitimizes the industry and it shows that the “big money” is very much interested in our market.

Sean Hyman
My E-Book
Editor, Currency Cross Trader

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