LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Alpari Group has put out a statement that the insolvency of Alpari UK, the FCA regulated arm of the Alpari Group, is separate and isolated from the rest of the Alpari Group. Other Alpari companies, including the flagship Alpari RU operation, are not affected by Alpari UK’s closure.
Alpari Group’s statement follows – note the original is in Russian and can be seen here. What follows is a Google Translate version of the original Russian article:
January 15, 2015 Switzerland’s central bank unexpectedly canceled the upper limit of the franc to the euro. The move provoked a sharp rise in the value of the Swiss franc against the euro, triggering unprecedented high volatility in the forex pairs with the Swiss franc. Eventually became the financial problems many forex brokers. In particular, January 16, 2015 Statement of technical default is published by Alpari UK, a member of the international financial Alpari brand.
As a result of the jump in volatility the company failed to comply with the capital adequacy requirements regulator UK (FCA). In the near future the company will be introduced external control and implement a program of financial recovery.
We draw your attention to the fact that the company Alpari UK is a separate legal entity under international brand Alpari, and its financial situation did not appear to have any effect on other company brand.
In particular, the company’s international brand Alpari serving clients from Russia and CIS countries – Alpari Limited (Saint Vincent), Alpari Limited (Belize), Alpari International Limited (Mauritius) – shortly before the changed trading conditions on the currency pair EURCHF, increasing margin requirements and thus protect their customers from the adverse scenario. Thanks to the company’s preventive measures are not faced with any financial problems and continue its operations and customer service in full.