LAS VEGAS--(BUSINESS WIRE)--Forex International Trading Corp. (the "Company") (OTCBB: FXIT), a company, through its affiliates, is principally engaged in offering a web-based foreign currency trading platform to non-US residents, professionals and retail clients, today announced that it has retained Shareholder Intelligence Services, LLC (“ShareIntel”), an application service provider to obtain, aggregate, track and analyze shareholder trading information on the Company.
The ShareIntel solution empowers a public company’s CEO with unique analytical tools to manage their investment bankers, legal counsel, investor relations, shareholders and more. This process is managed through a proprietary patent-pending web-based application known as the “Data Repository Information Link” system DRIL-DownTM.
Darren Dunckel, CEO of Forex International Trading Corp. stated, “Our shareholder value is extremely important to us and we have recently been experiencing unusual trading activities, suggesting that certain parties may be engaging in illegal naked shorting of our shares of common stock and/or manipulating our stock in a negative manner. As a result of such activities, we have engaged ShareIntel to review our trading data to determine if illegal naked shorting has occurred. In the event that it is determined that illegal naked shorting has occurred, we intend to timely report all violations to the U.S. Securities and Exchange Commission and FINRA as well as pursue all parties responsible for such illegal trading activity.”
About Shareholder Intelligence Services, LLC
Based in Rowayton, CT Shareholder Intelligence Services, LLC is a Data Application and Shareholder Intelligence service provider retained by public companies to aggregate, track and analyze critical Broker-Dealer and Shareholder movement. This process is achieved through a patented web based application called DRIL-DownTM ("Data Repository Information Link"). DRIL-DownTM provides CEO's with dynamic analytical tools needed by their investment bankers, legal counsel, investor relations, and other trusted advisors to optimize “best practices” shareholder communication. ShareIntel provides "instant" and actionable analytic metrics to coordinate and monitor corporate governance, regulatory compliance, corporate finance, due diligence, public offering market surveillance, mergers, acquisitions, investor relations, shareholder communications, blue sky compliance, road show planning and more.
For more information, visit: http://www.shareintel.com
About Forex International Trading Corp.
Headquartered in Las Vegas, NV, Forex International Trading Corp. operates an advanced online trading platform for Forex markets to non U.S. residents. The Company estimates non U.S. residents represent 75% of online currency trading. The Company currently accepts only non U.S. clients. The Company focuses on providing individual and institutional investors with a platform for buying and selling currencies, precious metals and commodity futures. This platform allows self-directed, broker-assisted, managed accounts and accumulation programs. Through the platform, customers have access to over 20 currencies and bullion deliveries. The Foreign Currency Market (“Forex” or “FX”) is created by the global exchange of currencies. According to the Bank for International Settlements, the average daily turnover, or, volume in the Global FX market in April 2010 was $4 Trillion compared to only $1.2 Trillion in 2001 (Wall Street Journal, Sept. 1, 2010). Historically, access to the FX market was only available to governments, commercial banks, corporations, and other large financial institutions. The Company is now capitalizing on the growth of online currency trading through its state of the art web-based trading platform.
For more information, please visit: http://forex-international-trading.com
Forward-Looking Statements: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others, whether Forex International Trading Corp. can successfully execute its operating plan; its ability to integrate acquired companies and technology; its ability to retain key employees; its ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; and whether Forex International Trading Corp. can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Forex International Trading Corp. does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.