Alapri (UK) Claims

tonyfonda

Newbie
2 0
******************************************************************
Kind Regards
 
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forker

Senior member
2,688 500
This sounds suspicious. How can they buy claims? Alpari was legally obligated to segregate retail money. Why would this company be allowed access to that? Unless they have been appointed the liquidators by the fsa but they are a small company so something is fishy
 

FCMForex

Member
53 2
Special Administrators appointed to Alpari (UK) Ltd

High Court appointed Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP as joint special administrators of Alpari (UK) Ltd.

They are having a number of enquiries from interested parties in relation with companies business. As they say after few days they may confirm the final deal is done with which broker.
 

highbury fx

Well-known member
338 114
High Court appointed Richard Heis, Samantha Bewick and Mark Firmin of KPMG LLP as joint special administrators of Alpari (UK) Ltd.

They are having a number of enquiries from interested parties in relation with companies business. As they say after few days they may confirm the final deal is done with which broker.

Yes, you're absolutely correct :)

I doubt if any other broker would want to take over the Alpari UK brand considering how tainted it now is and synonymous with risk failure. Its more likely the main asset, the client list, will be sold. This size client list, 100,000? (Alpari globally has about 440,000 clients) will attract every SB/CFD firms interest and each account could reasonably be valued at £100 in these circumstances. That would make them worth probably somewhere around £10m and attractive enough for someone to take a punt. Bear in mind it costs over £600 to acquire each FX client so the buyer (could be me??? ;) ) will only need 17,000 clients to move to get the correct CPA and a ROI of 4:1, which is a do-able deal.

The administrators are sending all accepted interested parties details of Alpari's business today and will hope for a quick sale.
 

dealer911

Well-known member
436 24
Yes, you're absolutely correct :)

I doubt if any other broker would want to take over the Alpari UK brand considering how tainted it now is and synonymous with risk failure. Its more likely the main asset, the client list, will be sold. This size client list, 100,000? (Alpari globally has about 440,000 clients) will attract every SB/CFD firms interest and each account could reasonably be valued at £100 in these circumstances. That would make them worth probably somewhere around £10m and attractive enough for someone to take a punt. Bear in mind it costs over £600 to acquire each FX client so the buyer (could be me??? ;) ) will only need 17,000 clients to move to get the correct CPA and a ROI of 4:1, which is a do-able deal.

The administrators are sending all accepted interested parties details of Alpari's business today and will hope for a quick sale.

I think data protection makes the sale of client data a non starter - This is the same administrator that handled worldspreads and the client list was written off at zero value - not a lawyer myself but I guess it will depend on the T's and C's at account opening stage.
 

highbury fx

Well-known member
338 114
I think data protection makes the sale of client data a non starter - This is the same administrator that handled worldspreads and the client list was written off at zero value - not a lawyer myself but I guess it will depend on the T's and C's at account opening stage.

if the client list is protected under the same terms as WS then you're right, they can't be marketed to and that makes them worthless to regulated companies.

WS then got torn apart by the remaining brokers picking off the best IB;s and overseas tied agents.

It was a hectic time spent on lots of planes for a few weeks...
 

YouAreNotFree

Experienced member
1,295 225
IronFx is to make a bid. Apparently.

Let's hope they can sort out client's funds asap if it's successful.
 

highbury fx

Well-known member
338 114
IronFx is to make a bid. Apparently.

Let's hope they can sort out client's funds asap if it's successful.

IronFX will have some competition.

KPMG estimate that a cash injecton of circa £25m is required to replenish regulatory capital with an adequate buffer.

116,000 clients, 27,000 active, 12,000 in January. £25m seems a bit toppish. 27,000 active accounts should be worth £67m if they can migrate them ALL over. £25m for 27,000 clients is a CPA of £925 and that's higher than industry standard, and £67m revenue for £25m cost is not a good enough ROI normally.

I said on another post they're probably worth £10m to someone, and there are a lot of firms that have £10m to take the punt. IronFX will be in a queue of firms putting in a very very cheeky bid.
 
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spinola

Established member
614 137
IronFX will have some competition.

KPMG estimate that a cash injecton of circa £25m is required to replenish regulatory capital with an adequate buffer.

116,000 clients, 27,000 active, 12,000 in January. £25m seems a bit toppish. 27,000 active accounts should be worth £67m if they can migrate them ALL over. £25m for 27,000 clients is a CPA of £925 and that's higher than industry standard, and £67m revenue for £25m cost is not a good enough ROI normally.

I said on another post they're probably worth £10m to someone, and there are a lot of firms that have £10m to take the punt. IronFX will be in a queue of firms putting in a very very cheeky bid.


I hope someone does buy it out so the flow can go on, maybe existing Alpari account holders get a bonus for being, customers and patient ! ? :)
 

YouAreNotFree

Experienced member
1,295 225
Email I received from KPMG:


Dear Sir/Madam

Alpari (UK) Limited - in special administration (“the Company”)
Joint Special Administrators – Richard Heis, Samantha Bewick and Mark Firmin

I was appointed Joint Special Administrator of the Company together with Samantha Bewick and Mark Firmin on 19 January 2015.

In accordance with Rule 51 of The Investment Bank Special Administration (England & Wales) Rules 2011, I refer you to www.kpmg.com/uk/alpari where you can view Form 2.12B, notice of special administrators’ appointment.

The Company’s affairs are being examined by the Joint Special Administrators who will write to all clients who have a claim setting out their proposals for achieving the purpose of the special administration within the next 8 weeks. Any urgent communications should be emailed to [email protected]. Alternatively please monitor the website which will be updated as more information becomes available.

The Company traded under the following trading styles: Alpari FX, AlpariFX, AUK, Quantum FX and QuantumFX (this list is not exhaustive).

If you believe you are not a current client as you consider you are not owed any money, or do not wish to make a claim for monies owed, kindly confirm this by email to [email protected] or in writing to Alpari (UK) Limited (in special administration), 8 Salisbury Square, London, EC4Y 8BB. On receipt of such an email/letter your contact details will be removed from the client list and no further correspondence concerning the Company will be sent to you.

Pursuant to rule 296 of the Rules, where the Special Administrators give, send or deliver any notice or other document to you by electronic means, you may request a hard copy of that notice or document. If you choose to request a hard copy, the Special Administrators must send it to you within 5 business days of receipt of the request.

Yours faithfully for Alpari (UK) Limited

Richard Heis
Joint Special Administrator
 
 
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