FXall sells $77.5 million stake to TCV FXall

The deal, anticipated to close in early August, ends months of speculation that the 17-bank-consortium-owned platform has been looking for a buyer (FX Week, March 20).

The minority stake sale will see all existing shareholders sell an equal small minority of shares to facilitate a 'meaningful' investment by TCV, Phil Weisberg, chief executive of FXall in New York, told FX Week. Although the company declined to disclose the valuation for the overall company, an industry source said it stands