CHICAGO, March 6 High-speed trader Infinium
Capital Management has stopped trading and is working to wind
down the company, President Mark Palchak told Reuters on
Infinium sold five trading desks and some physical assets to
foreign-exchange brokerage FXCM Inc, according to FXCM.
FXCM and a subsidiary have hired 48 Infinium employees to
trade for a new joint venture, V3 Markets, Palchak said in an
The total sale price was not disclosed. It included
approximately $11.9 million owed by Infinium to FXCM, according
to the brokerage.
Infinium had been among the higher-profile electronic
trading groups and was a household name among Chicago traders.
The firm traded in commodities, energy and other markets.