The story of Alpari UK continues. The troubled forex broker still says that it has not entered a formal insolvency process and that a sale is on the cards. After FXCM was reported to be a potential buyer and this was denied, there may be another buyer.
Pepperstone, an Australian broker, is showing interest.
Update, Monday 16:30 GMT: Alpari UK enters administration after no buyers found
The Wall Street Journal quotes Pepperstone co-founder Owen Kerr: “Alpari “is something we are looking very strongly at”.
And here is more from the WSJ’s reporting:
There are a lot of small [market participants], and some big guys, and some big retail players, that we were looking at,” Mr. Kerr said.
Mr. Kerr said the retail currency-broking industry was ripe for consolidation. “Consolidation is good. Only the strongest survive in these type of things.
Here are all the reactions from 51 forex brokers (and counting)
While the Swiss franc is beginning to stabilize in the markets, the foreign exchange industry is still experiencing turmoil.