The Biggest US Currency Broker Is About To Announce News After Swiss Franc Stunner ...

Currency broker FXCM was down as much as 90% in pre-market trading, and now the stock has been halted, pending news.

The anticipated announcement from FXCM comes after Thursday's shocking announcement from the Swiss National Bank that it would remove its currency peg against the euro, which sent currency markets into turmoil and saw heavy losses for a number of currency brokers.

In a statement last night, the company said:

NEW YORK, Jan. 15, 2015 (GLOBE NEWSWIRE) -- FXCM (NYSE:FXCM) an online provider of forex trading and related services worldwide, announced today due to unprecedented volatility in EUR/CHF pair after the Swiss National Bank announcement this morning, clients experienced significant losses, generated negative equity balances owed to FXCM of approximately $225 million.

As a result of these debit balances, the company may be in breach of some regulatory capital requirements.

We are actively discussing alternatives to return our capital to levels prior to today's events and discussing the matter with our regulators.

Earlier on Friday, Business Insider's Mike Bird outlined the problems facing currency brokers around the world in the wake of the surprising decision from the SNB.

As Bird outlined on Friday:

Brokers can go out of business on big moves like this because they give their clients access to leverage. For example, an account holder might have $1,000 with the broker, but hold positions worth $10,000 in currency markets. That doesn't matter so long as the holder's losses are covered by the initial amount.

The market is still digesting the SNB's actions and waiting for what happens next.

News from FXCM could one of the first shoes to drop.

More to come ...