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Screenshot of a breaking news alert e-mail from Q2 2017
Australian FX company AxiTrader has released a statement with regard to its corporate position following the Swiss National Bank’s decision to remove the 1.20 floor on the EURCHF currency pair.
The company’s Chairman and CEO Goran Drapac issued the public statement, confirming that “On Thursday 15th January, the Swiss National Bank withdrew its policy regarding the 1.20 EURCHF price floor. Consequently, the foreign exchange market in Swiss Franc experienced an unprecedented disruption.”
“Like many firms, some of AxiTrader’s clients sustained losses greater than the balance of their accounts due to the gap in market pricing. The overall financial impact on AxiTrader has been limited and our regulatory capital and cash resources remain above the regulatory requirements. Customers can be assured that Client Funds remain segregated and business remains as usual” continued Mr. Drapac
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