Liquidity and DMA pioneer Advanced Markets has issued a statement on the CHF market volatility.
Advanced Markets has stated that it weathered the extreme market volatility late last week with only a few minor issues.
Advanced Markets’ official statement reads as follows:
Advanced Markets Statement re CHF Volatility
January 16, 2014–Advanced Markets, a provider of prime of prime solutions to leading FX brokers, today announced that it weathered the extreme market volatility this week with only a few minor issues.
Advanced Markets’ risk management systems and liquidity providers were able to mitigate trading losses. In addition, the firm’s well-capitalized wholesale clientele were able to cover trading losses on Swiss franc positions.
“We’ve spent the last 24 hours dealing with all of our client relationships and liquidity partners,” said Anthony Brocco, Executive Chairman, Advanced Markets Ltd. “We came through this period of unprecedented volatility cleanly and we’re on very solid ground and expect zero or minimal client losses.”
In addition to running robust risk management systems and ultra-low latency, bank only DMA liquidity pool, the firm has a deep institutional ownership base including stakes held by Macquarie Bank and GFI Group.