Alpari UK has released the following announcement on its website. We are still unsure if this covers just Alpari UK (which it seems to), or what if any effect this has on the entire Alpari Group. Either way, it is the biggest fallout announced so far from yesterday’s incredible trading activity around the Swiss Franc move.
Important announcement
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.
Here’s a screenshot from Alpari UK’s website:
The original announcement is on Alpari UK’s website here.