BMU 10:57 Fri Jan 16
Alpari into insolvency
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(nt)
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Replies - In Chronological Order ( Show Newest Messages First)
Eddie B
10:59 Fri Jan 16
Re: Alpari in trouble ?
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Yes
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BMU
11:01 Fri Jan 16
Re: Alpari in trouble ?
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NZ firm went bust over night and more casualties expected post the SNB move
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Eddie B
11:07 Fri Jan 16
Re: Alpari in trouble ?
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Time to get the light blue material out for the front of the home shirts
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BMU
11:08 Fri Jan 16
Re: Alpari in trouble ?
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and some Wundaweb
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Eddie B
11:09 Fri Jan 16
Re: Alpari in trouble ?
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They've just confirmed they've entered in insolvency.
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Buster
11:10 Fri Jan 16
Re: Alpari in trouble ?
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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. - See more at: http://www.alpari.co.uk/client-updates/notifications/posts/2015/january/important-announcement#sthash.S8Ybz6nM.dpuf
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Honest Hammer
11:12 Fri Jan 16
Re: Alpari in trouble ?
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Do we get to play with the numbers over the chests again? Loved that!
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Coffee
11:12 Fri Jan 16
Re: Alpari in trouble ?
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Blimey, second WHU sponsor gone into insolvency.
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Josh
11:16 Fri Jan 16
Re: Alpari in trouble ?
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Bring back David Di Michele.
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riosleftsock
11:20 Fri Jan 16
Re: Alpari in trouble ?
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Owned by Russians.
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Ace of Spades
11:21 Fri Jan 16
Re: Alpari in trouble ?
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Only at West Ham can this happen.... twice.
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Josh
11:22 Fri Jan 16
Re: Alpari in trouble ?
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I got this email yesterday from one of my accounts:
Dear xxxxxxxx,
Please be informed that due to today’s exceptional market movement in CHF crosses, we have been filling clients’ orders and positions in an extremely illiquid market.
As such, we are now reviewing all executed fills and we will amend them to more accurate levels. This may result in a worse execution rate than the originally filled level.
Please keep in mind that, therefore, the balance in your account(s) might change and your trading activity be affected.
Should you have any questions regarding our market trading hours please contact 0800 138 xxxx.
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Joey Woodwork
11:23 Fri Jan 16
Re: Alpari in trouble ?
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We have the big boys queuing up surely, Ethiad, Turkish Airlines, one of those lot.
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icwhs
11:28 Fri Jan 16
Re: Alpari in trouble ?
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Alpari.co.uk
There is a story, nothing about going broke.
Tea cup,
Storm.
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riosleftsock
11:28 Fri Jan 16
Re: Alpari in trouble ?
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From the telegraph
The shirt sponsor of Premiership football team West Ham United has taken heavy losses as a result of the Swiss National Bank’s shock move on Thursday to decouple its currency from the Euro, and entered into insolvency proceedings.
Traders were caught unawares by the surprise decision of the SNB to eliminate the ceiling it had maintained on the Swiss franc's value, causing many investors to lose out.
According to a statement published by foreign exchange broker Alpari on its website, “the recent move ... 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”, Alpari went on to say.
As a result, Alpari has entered insolvency. The broker assured clients that retail funds are segregated, in accordance with Financial Conduct Authority rules.
The franc gained as much as 30pc against the euro on Thursday, after the ceiling on the currency was removed. The change in policy allowed the franc to move freely for the first time since September 2011.
Alpari became West Ham's shirt sponsor in a deal understood to be worth £3m a year in February 2013.
Breaking news - more to follow...
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riosleftsock
11:29 Fri Jan 16
Re: Alpari in trouble ?
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I would think this is a pretty good opportunity to get a new deal in place for the last season at UP with attendances set to be pretty much at capacity for the rest of the season.
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Buster
11:29 Fri Jan 16
Re: Alpari in trouble ?
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icwhs 11:28 Fri Jan 16
They've confirmed insolvency on that site.
http://www.alpari.co.uk/client-updates/notifications/posts/2015/january/important-announcement
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Sxboy_66
11:34 Fri Jan 16
Re: Alpari in trouble ?
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So, in recent years we've had a billionaire Icelandic owner who goes bust, a holiday company sponsor who goes bust, and now a currency trader sponsor who goes tits up.
It's the gipsy curse I tell ya.
What are the chances we can get Daniel Levy to be our next sponsor? We might as well use the curse to our advantage.
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Honest Hammer
11:35 Fri Jan 16
Re: Alpari in trouble ?
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Apparently this has caused a cash flow issue and is the reason they're trying to get ST money early.
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Eddie B
11:38 Fri Jan 16
Re: Alpari in trouble ?
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HH, this all happened only yesterday.
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