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Alpari

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"Alpari" redirects here. For Gyula Alpári, see Gyula Alpári.
Alpari Group
Company typePrivate
IndustryFinancial services
FoundedDecember 1998 (1998-Dec)
FounderAndrey Dashin (Chairman)
Boris Shilov (CEO)
HeadquartersKazan, Russia
London, United Kingdom
Auckland, New Zealand
Kingstown, Saint Vincent and the Grenadines
Ébène CyberCity, Mauritius
Dubai, United Arab Emirates
Key people
Andrey Dashin (Chairman)
ServicesOnline Forex trading, financial spread betting, precious metals trading, CFDs, binary options
WebsiteAlpari VC
Alpari RU
Alpari NZ
Alpari MU
Alpari ME

Alpari Group is a foreign exchange, precious metals and CFD broker with operations in several countries.[1][2] The company's UK entity applied for insolvency on January 19, 2015, following heavy losses after the Swiss National Bank unexpectedly removed the franc's ceiling against the euro.[3]

History

The company was originally established in Kazan, Russia, in 1998[4] by Daniel Skowronski,[citation needed] who became the first CEO, and Andrey Vedikhin, Andrey Dashin and Gleb Petrov. Alpari enabled investors to trade on various electronic trading platforms, including MetaTrader 4 and MetaTrader 5, which allows traders to apply automated trading strategies.[5]

United Kingdom

The company established a number of offices and Alpari (UK) was founded in 2004 as part of the global association of Alpari companies.[1] It became regulated by the Financial Conduct Authority in September 2006.[2] The company opened and closed several branches in other countries. Cyprus office (via Alpari Financial Services Ltd.) was opened in 2010 and the CySEC license was acquired that year. The company renounced its licence in December 2012 and closed office in February 2013.[6][7] Alpari (UK) entered Indian market in 2008 by incorporating its subsidiary, Alpari Forex (India) Pvt. Ltd., in Mumbai.[8] The company left India in March 2014.[9] Alpari Deutschland was established in 2009 in Frankfurt, Germany.[citation needed] A subsidiary in Tokyo, Japan, was established in 2011 as Alpari (Japan) KK.[10]

For UK residents, the company also offered financial spread betting on Forex and indices.[2] In addition to trading products, Alpari provided market research tools such as trading reports and charts. The company served retail, professional and institutional clients.[1]

In September 2013, Alpari (UK) introduced currency and spot metal binary options trading via OptionTrader platform.[11] Alpari became a member of International Swaps and Derivatives Association (as Alpari Limited) in October 2013.[12]

In April 2014, Alpari closed down its Indian operations that had employed about 60 people to prepare the company for an expected IPO in the following year. The companies received a large part of revenue from Russia and the Commonwealth of Independent States which have been its core market since its foundation.[13]

On 16 January 2015, it was widely reported that Alpari has entered insolvency following heavy losses the previous day when the Swiss National Bank unexpectedly removed the franc's ceiling against the euro.[14][15] Its board of directors were considering all options including a sale.[16] On January 19, Alpari (UK) Ltd. applied for formal insolvency and the English High Court appointed a special administrators from KPMG under Special Administration Regime.[17] IronFX, a Cyprus-based foreign exchange trading company, confirmed its bid on Alpari in January 2015.[18][19]

Russia

Alpari-Broker Ltd. (Russian: ООО «Альпари-Брокер») was established as legal entity in September 2008 in Kazan, Russia. It is licensed as a professional participant of the equity markets for providing brokerage, dealership and money managing services by the Central Bank of Russia.[20][21][22] Additionally, it is a member of CRFIN (the Center for Regulating OTC Financial Instruments and Technologies), a self-regulatory organization created by Forex brokers.[23] Andrey Dashin, the chairman of Alpari, is also on the Founder Board of this SRO.[24]

United States

Alpari US Llc was established in 2006.[25] It had its NFA membership approved in November 2007.[26]

See also

References

  1. ^ a b c "Company Overview of Alpari (UK) Limited". Bloomberg. Retrieved 13 April 2015.
  2. ^ a b c "FSA Register Basic details for Alpari (UK) Ltd". Financial Conduct Authority. Retrieved 13 April 2015.
  3. ^ "Notice of special administrators' appointment". Insolvency-KPMG.co.uk. 19 January 2015. Retrieved 13 April 2015.
  4. ^ "Alpari RU". Retrieved 23 July 2015.
  5. ^ "An Exclusive Interview with Olga Rybalkina, Chief Executive Officer of Alpari (US)". Retrieved 13 April 2015.
  6. ^ "Alpari Financial Services Success Story". Cyprus.com. Retrieved 13 April 2015.
  7. ^ "CySEC Announcement". CySEC. 8 May 2013. Retrieved 13 April 2015.
  8. ^ "Company Overview of Alpari Forex (India) Pvt. Ltd". Bloomberg. Retrieved 13 April 2015.
  9. ^ Mishra, Lalatendu (28 March 2014). "Alpari India shuts shop". TheHindu.com. Retrieved 13 April 2015.
  10. ^ "Company Overview of Alpari (Japan) KK". Bloomberg. Retrieved 13 April 2015.
  11. ^ "New at Alpari: Binary Options, Cent-denominated Accounts and CFDs". ForexBrokerNews.com. 2 September 2013. Retrieved 4 September 2013.
  12. ^ "ISDA Associate Members". Retrieved 15 October 2013.
  13. ^ "Indian operations canned as Alpari heads towards IPO". Leap Rate. 24 April 2014. Retrieved 13 April 2015.
  14. ^ "Swiss franc shock forces West Ham shirt sponsor Alpari out of business". The Telegraph. 16 January 2015. Retrieved 13 April 2015.
  15. ^ "Alpari UK currency broker folds over Swiss franc turmoil". BBC News. 16 January 2015. Retrieved 13 April 2015.
  16. ^ "Alpari UK denies acquisition by FXCM, talks continuing". LeapRate. 18 January 2015. Retrieved 13 April 2015.
  17. ^ "Notice of special administrators' appointment". 19 January 2015. Retrieved 13 April 2015.
  18. ^ "IronFX bids for Alpari after Swiss franc shock". Reuters. January 22, 2015. Retrieved March 16, 2015. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  19. ^ Phillip Stafford; Harriet Agnew (January 22, 2015). "IronFX confirms interest in Alpari UK operations". Financial Times. Retrieved March 16, 2015. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  20. ^ "Список организаций, имеющих лицензию профессионального участника рынка ценных бумаг на осуществление брокерской деятельности". CBR.ru (in Russian). 17 January 2014. Retrieved 13 April 2015.
  21. ^ "Список организаций, имеющих лицензию профессионального участника рынка ценных бумаг на осуществление дилерской деятельности". CBR.ru (in Russian). 17 January 2014. Retrieved 13 April 2015.
  22. ^ "Список организаций, имеющих лицензию профессионального участника рынка ценных бумаг на осуществление деятельности по управлению ценными бумагами". CBR.ru (in Russian). 17 January 2014. Retrieved 13 April 2015.
  23. ^ "Participants of SRO NP CRFIN are independent business groups". CRFIN.ru. Retrieved 13 April 2015.
  24. ^ "Founder Board". CRFIN.ru. Retrieved 13 April 2015.
  25. ^ "Alpari US". Retrieved 21 July 2015.
  26. ^ "ALPARI US LLC". NFA. Retrieved 14 April 2015.
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