26 March, 2015 | AtoZ Forex – The latest news on Alpari UK comes as a rather warm surprise. KPMG’s appointed special administrators of the broker are spear headed by Richard Heis, Samantha Bewick and Mark Firmin. Reportedly, they are certainly making heads way, as it announced the confirmation of sale of about 160,000 client data for an undisclosed amount to ETX capital.
- The payment process involves three stages:
- Initial deposit, which has already been paid
- Bulk amount payable after receipts of all the client data
- Additional sum as agreed per Alpari client converted by ETX capital
This mechanism could also allow former Alpari clients who have their funds locked down by KPMG and the FSCS, in order to make direct transfers into their ETX trading accounts. As the aggregate sum on balances of the bankrupt company has been determined at an excess of $100 million.
KPMG’s, Richard Heis, commented in the announcement that: “Following substantial initial interest in the Alpari UK client list, we are pleased to have now concluded a sale, as we continue to work to seek ways to maximise the level and speed of return to clients and creditors in accordance with our statutory duties.”
CEO of ETX Capital: The deal complements our strategic drivers
ETX capital commenced offering online trading since 2002, now trading in some 6,000 instruments through 20 national and international markets. The brokerage operates with 150 staff based in the UK, whilst maintaining some global offices widely spread. The company approximates a potential of 50% increase in its size and global reach, as a result of the new Alpari deal. The solid performing financial entity has come out triumphant, as ETX capital acquires Alpari UK client base against competition such as IronFX and pepperstone. Who were in line to purchase Alpari UK’s business after its bankruptcy announcement.
The CEO of ETX Capital, Mr. Andrew Edwards expressed his anxiety thus; “We are very excited about this deal as it complements two of our main strategic drives: the expansion of our MT4 offering and the continued expansion of our international customer base.”
In a further comment, Mr. Andrew Edwards clarifies the firms good intentions: “We know that the last few months have been difficult for these Alpari customers; our multi-platform multi language capabilities make us best placed to address those clients’ needs. Whilst the clients may pursue their funds themselves through the administration process, we hope they accept our offer of assistance in facilitating a smooth transition of their funds to ETX Capital.”
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