2 Attachment(s) Gain Capital Holdings, operator of key forex brokerage manufacturers like Forex.com, City Index, GTX, declared a Board of Directors decision to start a stock repurchase plan. Under it the company may repurchase up to $35 million of its own common stock that is outstanding, almost doubling the quantity authorized as of March 31, 2017.

Gain Capital might buy shares in the open market, in compliance with all the applicable US securities regulations. The the size of the re-purchase will rely on many different factors, including market conditions, regulatory requirements and other business concerns, as decided by the management group of GAIN Capital. The plan also might be suspended at any given moment. The buy-back will probably be financed with existing cash balances.

“Our Board of Directors and management staff firmly believe in our long term development prospects and sense our current share Andre1 doesn't correctly reflect the entire value of the Company,” mentioned Glenn Stevens, CEO of GAIN Capital. “The extra approved re-purchase ability demonstrates our confidence in the power of the company as well as our dedication to effective capital allocation and value-creation for shareholders.”

Currently Gain Capital is the biggest retail forex broker in the US, following the February exit of its own main competitor FXCM along with the purchase of its own US clientele.

Gain Capital was started in 1999 and went public this year, on NYSE. The current market capitalization of the organization stands a-T $274.64 million.