One month in, things nearly back to normal at MarketSpreads

Back to about 70% of pre-reinstatement trading levels.

It has been exactly one month since Dublin-based financial spreadbetting firm MarketSpreads re-opened for business, after being forced to shut for three weeks in April by the Central Bank of Ireland.

Sources close to the situation inform LeapRate that client trading volume levels at MarketSpreads are now up to about 70% of normal pre-suspension levels, well ahead of management’s expectations, helped in part by a relatively volatile month in the FX, equity and commodity markets. (We expect a significant pickup in May volumes from Q1 and April levels at many Forex firms worldwide).

More than half of client funds at MarketSpreads were withdrawn during the three week hiatus. A report by accounting firm Grant Thornton confirmed that all client funds at MarketSpreads were indeed properly segregated from company funds. The suspension arose from legacy accounting issues stemming from MarketSpreads’ financials before 2010.

For more on the global online trading market see the LeapRate-Dow Jones Forex Industry Report.

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