Exclusive: Alpari UK's Sale Imminent after Suffering $45 Million in Negative Client Balances
- The news of the imminent sale comes after the UK branch of this large Russian broker reversed its insolvency process announcement in a surprise move last night. Identities of the buyers were not revealed.
Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has learned that Alpari UK is in hectic Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term negotiations with a number of potential buyers and the sale of the broker will be announced in the next few days.
It has also been revealed to us that the amount of negative client balances Alpari UK is on the hook for is about $45 million, while the firm's client equity is estimated to be around $100 million. The breakdown of the negative exposure is $20-$25 million in liabilities and about $15-$25 million in regulatory capital shortfall.
The identity of the potential buyers has not been revealed yet but there are a number of brokers who announced they are using this opportunity to take over fallen competitors.
The news of the imminent sale comes after the UK branch of this large Russian broker reversed its insolvency process announcement in a surprise move last night.
Virtually all brokers have been releasing updates over the weekend about their reaction to the game-changing floor drop by the Swiss National Bank (SNB). While some faced losses, others made it clear that they are on the hunt for new business, either by targeting clients directly as a marketing strategy or by expressing interest in acquiring assets from failing market participants.
All of these rapid movements are tracked on this real time post.
Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates has learned that Alpari UK is in hectic Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term negotiations with a number of potential buyers and the sale of the broker will be announced in the next few days.
It has also been revealed to us that the amount of negative client balances Alpari UK is on the hook for is about $45 million, while the firm's client equity is estimated to be around $100 million. The breakdown of the negative exposure is $20-$25 million in liabilities and about $15-$25 million in regulatory capital shortfall.
The identity of the potential buyers has not been revealed yet but there are a number of brokers who announced they are using this opportunity to take over fallen competitors.
The news of the imminent sale comes after the UK branch of this large Russian broker reversed its insolvency process announcement in a surprise move last night.
Virtually all brokers have been releasing updates over the weekend about their reaction to the game-changing floor drop by the Swiss National Bank (SNB). While some faced losses, others made it clear that they are on the hunt for new business, either by targeting clients directly as a marketing strategy or by expressing interest in acquiring assets from failing market participants.
All of these rapid movements are tracked on this real time post.