Fortress Prime Clearing, a division of Fortress Capital Investments L.L.C. headquartered in Dubai, UAE, which is a clearing house and a provider of institutional trading liquidity for various financial products including but not limited to forex, precious metals, commodities, global indices and CFD’s did not suffer any losses on its forex trading business from the events of January 15, 2015, where Swiss National Bank’s (SNB) surprise decision to remove its cap on the Swiss franc (CHF) against the Euro (EUR).
This announcement resulted in the rise of CHF by 40% against EUR and by 18% against USD. The decision of SNB came as a shock to all forex market participants as SNB had continued to defend and maintained their stance to protect EUR against CHF until the announcement.
Despite this event that has caused financial distress to many market participants, Fortress Prime continues to be extremely positive in expanding its business by focusing on building partnerships, forming strategic alliances and aggressively seeking M&A opportunities.
Mitch Eaglstein, CEO of Fortress Prime elaborating on Company’s growth strategy said “Forex Industry needs more support now than ever and we are highly capitalized backed up by strong balance sheet of Fortress Capital Investments and our sponsors. We are providing M&A opportunities and favourable capital investment terms to forex brokers that are experiencing financial stress due to recent market events.”