Administrators Baker Tilly provides update on insolvent brokerage LQD Markets

Professional services and auditing company Baker Tilly has today published a letter, dated February 9, 2015, on its website, which provides an update regarding the situation that surrounds LQD Markets since the firm entered administration following the events of January 15, the day that the Swiss National Bank removed the 1.20 peg on the EURCHF.

On February 2, a letter to LQD Markets’ clients was issued by Baker Tilly, explaining that LQD Markets had gone into administration.

Today, the publication of the second letter to clients which was compiled on February 9, has been made public information, and contains information relating to the procedure for creditors, including clients whose funds were held at LQD Markets.

Baker Tilly ha confirmed in this particular letter that following the cessation of trading by LQD Markets, the Joint Special Administrators are carrying out a reconciliation of client accounts, and that once this procedure has been completed, Baker Tilly will provide clients with a statement for them to agree.

Under this procedure, clients which believe that they are owed money may make a claim accordingly.

To read the full document from Baker Tilly, click here.

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