Global Brokerage, Inc. (NASDAQ:GLBR) (“Global Brokerage”), announced today that, after receiving votes from approximately 78.5% of the holders of its 2.25% Convertible Notes due 2018 (the “Current Notes”) unanimously approving its proposed, prepackaged plan of reorganization (the “Plan”), Global Brokerage has filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The bankruptcy case is expected to take no longer than sixty days. All voting creditors voted in favor of the Plan.

As announced on November 10, 2017, Global Brokerage and its affiliate, Global Brokerage Holdings, LLC (“Global Brokerage Holdings”), an ad hoc group of holders of more than 68.5% of the Current Notes, FXCM Group, LLC (“FXCM Group” or “FXCM”) and Leucadia National Corporation and LUK-FX Holdings, LLC entered into a restructuring support agreement (the “RSA”) to restructure the obligations of Global Brokerage and Global Brokerage Holdings pursuant to the Plan . The overall purpose of the Plan is to enable Global Brokerage to exchange the Current Notes for new notes that have a five-year extended maturity and to restructure its current operations to reduce current expenses.

FXCM Group is not involved with the Chapter 11 filing.  FXCM’s customers and customer funds will not be impacted by the RSA and the Plan.  Similarly, FXCM’s banking and trading counterparties, service providers, and other business relationships will not be impacted. FXCM Group, a leading retail FX and CFD broker will continue to operate normally.

Global Brokerage’s legal advisors are King & Spalding LLP, and its financial advisors are Perella Weinberg Partners LP. Additional information regarding Global Brokerage’s Chapter 11 case and the Plan can be found in the Current Report on Form 8-K filed with the SEC on November 13, 2017 and on the Prime Clerk website at:

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