Alpari UK Confirms Insolvency Procedure, Client Funds in Segregated Accounts

Friday, 16/01/2015 | 10:18 GMT by Victor Golovtchenko
Alpari UK Confirms Insolvency Procedure, Client Funds in Segregated Accounts
Alpari logo

The first major casualty of the Swiss franc debacle is Alpari UK, which has just issued the following statement on its website:

The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional Volatility and extreme lack of Liquidity . This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules.

Any client funds should remain unaffected as the brokerage prepares to go out of business.

Alpari logo

The first major casualty of the Swiss franc debacle is Alpari UK, which has just issued the following statement on its website:

The recent move on the Swiss franc caused by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional Volatility and extreme lack of Liquidity . This has resulted in the majority of clients sustaining losses which has exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm today, 16/01/15, that it has entered into insolvency. Retail client funds continue to be segregated in accordance with FCA rules.

Any client funds should remain unaffected as the brokerage prepares to go out of business.

Topics
Alpari
brokers
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