Jefferies Group LLC is buying Faros Trading LLC, which should allow it to expand further into foreign exchange brokerage.
Faros, headquartered in Stamford, Connecticut, is a foreign exchange that also provides market intelligence. The group is the foreign exchange subsidiary of FXCM Inc. (NYSE: FXCM), a forex trading group. Terms of the deal were not disclosed.
New York-based Jefferies, a subsidiary of Leucadia National Corp. (NYSE: LUK), is an investment banking firm that also provides sales, trading research and strategy services. Jefferies also announced on April 9 that it's selling most of its futures business Jefferies Bache to Societe Generale SA.
In a similar deal, Bats Global Markets Inc. bought currency trading venue Hotspot FX in January.