Ours is a classic disruption story
Bedminster, New Jersey (PRWEB) September 10, 2007
GAIN Capital Group, LLC, a leading provider of foreign exchange (forex) services for institutional and individual investors, has been named to Deloitte's prestigious Technology Fast 50 Program for New Jersey, a ranking of the 50 fastest growing technology, media, telecommunications, and life sciences companies in the area by Deloitte & Touche USA LLP, one of the nation's leading professional services organizations. Rankings are based on the percentage revenue growth over five years, from 2002-2006.
GAIN Capital Group's increase in revenues of 829 percent from 2002 to 2006 resulted in a #14 ranking in the Technology Fast 50 for New Jersey. "Ours is a classic disruption story," commented GAIN Capital Group's CEO, Glenn Stevens. "GAIN targeted a large, underserved client base and successfully leveraged our proprietary technology to provide a more efficient and cost-effective way to access the $2 trillion a day global foreign exchange market," continued Mr. Stevens. "Providing retail investors access to the forex market has been the primary driver of GAIN's extraordinary growth over the past several years."
The company experienced revenue growth in excess of 90% for the fiscal year ending December 31, 2006, the firm's fastest year-over-year growth since 2002 and the sixth consecutive year that the company has reported top line growth of 65% or more.
"To rank on Deloitte's Technology Fast 50, companies must have phenomenal revenue growth over five years," said Paul Mlynarski, Partner Deloitte Tax LLP, Parsippany, New Jersey. "GAIN Capital Group has proven to be one of the fast-growth success stories in New Jersey, and we applaud their dedication to making their vision a reality."
Qualifications for the Technology Fast 50 include: operating revenues of at least $50,000 in 2002 and $5,000,000 in 2006, headquartered in North America, and a company that owns proprietary technology or proprietary intellectual property that contributes to a significant portion of the company's operating revenue.
Companies from the 16 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit http://www.fast500.com.
About GAIN Capital Group, LLC
GAIN Capital Group is a market leader in the rapidly growing online forex industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume in excess of $100 billion per month. Headquartered in Bedminster, New Jersey, the company operates sales and support offices in New York and Shanghai.
The company operates two full service web portals. FOREX.com (http://www.forex.com) services individual investors of all experience levels with a full-service trading platform, lower account minimums and extensive education and training. The company's flagship service, GAIN Capital (http://www.gaincapital.com) focuses on the needs of professional forex traders, including hedge funds and money managers.
GAIN Capital Group, LLC and FOREX.com are registered with the National Futures Association (NFA) as a Futures Commission Merchant (NFA ID #0339826).
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Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.