Liquid Markets issued Important Notice
Following the decision by the Swiss National Bank to remove the informal peg between the Swiss franc and the euro, which prompted volatility across the foreign exchange markets LQD Markets (UK) Limited (“LQD”) has experienced trading difficulties and has been in close liaison with the Financial Conduct Authority (“FCA”) about this.
Following consultation with the FCA and professional advisers, on 27 January 2015 LQG applied to the FCA for a number of requirements to be imposed on LQD and its business. Following this application, the FCA placed these requirements on LQD’s permission (which is available for inspection on the Financial Services Register). These requirements include a requirements that LQD:
- cease carrying on any business that invloves the carrying on of any regulated activities.
- terminate any existing derivatives contacts to which it is a party (whether as agent or principal).
In compliance with these requirements, LQD is no longer able to enter into any transactions or carry on any other business with clients and the open position of any existing clients in derivative transactions are being closed immediately.
Source: Liquid Markets
