Forex platform and technology provider Leverate has issued a statement in the wake of last week’s post-Brexit referendum volatility, saying that it and its clients were unscathed after the Brexit outcome.
Leverate indicated that trading volumes Friday executed on its platforms were nearly 3 times normal, and that its systems remained strong handling the heightened volumes while ‘running smoothly’.
The full statement issued by Leverate reads as follows:
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Leverate and Leverate Clients Unscathed after Brexit Outcome
Financial technology provider Leverate reported it remained, together with its clients, unscathed after Brexit outcome.
The tech provider supplies its clients with risk management and liquidity as part of its offerings and it reported this morning that its precautionary measures taken prior to the event, ensured that its clients were able to pass this high-volatility episode without a hiccup. Leverate has still advised its clients to keep risk management policies in place as the risk for market volatility is still possible.
Britain’s surprise decision to leave the EU stirred markets across the world and caused higher-than-usual call and trading activity. Leverate experienced volumes 277% higher than usual during the hours immediately following the outcome, yet the firm reported that their platforms were running smoothly, despite the heightened volume.
While investors around the world were voicing their frustration on social media saying they were missing out on buying opportunities or had their hands tied while seeing their deep losses due to platform slowness or unavailability, Leverate’s systems remained strong. An executive for the firm said “during the time immediately following the announcement of the Brexit outcome, our clients experienced seamless trading and the performance of our platforms remained excellent.”
Leverate is a leading technology innovator who has developed the LXSuite and LXLite turn-key complete packages of private label brokerage solutions. Leverate also offers its powerful Sirix HTML5 platform as a fully brandable product.