ILQ officially exits US Forex market, all NFA licenses withdrawn


Institutional Liquidity LLC (ILQ) has officially exited the US market, data from the website of the National Futures Association (NFA) have shown. As of January 21, 2015, the company has had all of its licenses with the US regulators withdrawn, including:

• RETAIL FOREIGN EXCHANGE DEALER

• NFA MEMBER

• FOREX FIRM

• FOREX DEALER MEMBER

• FUTURES COMMISSION MERCHANT

The news is hardly surprising for anyone following the situation of the US Forex and futures markets over the past couple of years. It was in April 2014 that ILQ announced it was about to leave the United States, selling its futures accounts to Advantage Futures. On its way out, the company was fined USD 225,000 by the NFA, with the watchdog banning the firm from membership.

This way, what happened on January 21, 2015, was the end of a process with a foreseen end.

ilq_nfa_inside

Photo credit: NFA.

ILQ is now continuing its business in Australia, where it holds an Australian Financial Services License (424122) awarded to it by the Australian Securities & Investments Commission in July 2012. The company is currently doing business under the designation ILQ Australia PTY LTD, using a revamped website highlighting its new home and focus.

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ILQ officially exits US Forex market, all NFA licenses withdrawn

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