New York foreign-exchange brokerage firm Forex Capital Markets Inc. (FXCM) on Thursday said it was in talks to acquire assets of high-speed trader Infinium Capital Management LLC. The deal could allow FXCM to expand into commodities and other markets.

According to Reuters, the negotiations coincide with a lawsuit brought against Infinium by 31 former employees. Infinium employees claim that company leaders duped them into investing millions of dollars into the firm while hiding financial troubles.

FXCM said in a statement that it has not yeat made a formal offer for Infinium's assets. The broker last year bought a $12 million note issued by Infinium, the report said.

Privately-held Infinium is among the higher-profile electronic trading groups and is a household naman among Chicago traders. It trades in commodities, energy and other markets, Reuters said.

A favored tool of hedge funds and other institutional traders, high-speed trading uses so-called algorithmic software programs to post orders in the blink of an eye, the report said.