Expobank buys FXCM Securities to reinforce UK strategy

Expobank has purchased FXCM Securities, the UK arm of NYSE-listed FXCM.

FXCM Securities, previously known as ODL Securities, is a City-based brokerage specialising in Equities, Futures, Options and CFDs.

The broker will continue operating from its current offices in The City of London as Walbrook Capital Markets.

Ilya Mitelman, chairman of the Management Board of AS Expobank highlighted the importance of being a player in London - the world’s biggest and most important financial centre.

“Walbrook Capital Markets aims to build upon the strong foundation that already exists here. Our focus is to be the broker of choice for clients who require a personal, expert service from an experienced City-based team,” he said.

The purchase of its rival will also allow AS Expobank to reinforce its business model, characterised by a low appetite for credit risk, Walbrook Capital Markets said in a statement.