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FXCM posts $427 million net loss

Results hurt by surge in Swiss franc after Switzerland’s central bank ended currency cap

FXCM posted a $426.8 million net loss for the first quarter, hurt by several items stemming from surge in the Swiss franc after the Swiss National Bank in January removed the cap on the currency’s value.

FXCM provides online foreign exchange trading, CFD trading, spread betting and related services.

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