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TeleTrade News

January 2015 21

TeleTrade remains intact from the Swiss shock

TeleTrade, a global financial services provider, would like to confirm that it has not suffered any impact as a result of the extreme price movement of the Swiss franc on the 15th of January 2015 and that its financial position has not been affected.

The Swiss National Bank sent shockwaves around financial markets on Thursday, 15th of January, by unexpectedly abandoning the EUR/ CHF cap, after emphasizing its importance just two days before. With the ECB ready to launch QE, the Swiss policy makers decided that it would have been very difficult and costly to preserve the cap at 1.20, so they opted instead for a further reduction in interest rates in order to keep a lid on the franc. In addition, the increased deviation between the monetary policies of the two major currency territories has increased considerably, thus resulting in a depreciation of the EUR against the USD and, consecutively, a weakening of the CHF against the USD.

The SNB’s decision triggered an extreme movement in the value of the Swiss franc and reduced liquidity in the foreign exchange market, which caused many brokers to suffer major losses in their trading activities. TeleTrade would like to report that this unexpected turn of events has not had any impact on the company, as its sound risk management system and negative balance protection procedures have effectively managed the company’s exposure to credit risk and safeguarded its financial robustness. TeleTrade would also like to emphasize that all client funds are kept safely in segregated accounts, according to CySEC’s rules, and that the company continues to maintain sufficient capital adequacy in line with the regulatory requirements.

In commenting about the situation, the company’s management stated that “TeleTrade’s long-lasting view of having a conservative approach to trading and offering reasonable trading conditions, such as fixed spreads and low leverage that protect investors, has been amply justified, allowing us to continue conducting business as usual or our global client base”.

About TeleTrade

Founded in 1994, TeleTrade is a truly global brand. With over 200 offices in 30 countries, the company is a leader in online trading of financial instruments, with numerous industry and business awards. TeleTrade-DJ International Consulting Ltd is licensed and regulated by CySEC, and operates in compliance with MiFID.

To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

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  • © 2011-2017 TeleTrade-DJ International Consulting Ltd

    TeleTrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.

    The company operates in accordance with Markets in Financial Instruments Directive (MiFID).

  • The information on this website is for informational purposes only. All the services and information provided have been obtained from sources deemed to be reliable. TeleTrade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.

  • TeleTrade cooperates with SafeCharge Limited, which is an electronic money institution authorized and regulated by the Central Bank of Cyprus and is a principal member of MasterCard Europe and Visa Europe. We also cooperate with Moneybookers and Neteller, which offer electronic e-wallet services authorized and regulated by the Financial Conduct Authority.

    Please read our full Terms of Use.

  • To maximize our visitors browsing experience TeleTrade uses cookies in our web services. By continuing to browse this site you agree to our use of cookies. If you disagree, you may change your browser settings at any time. Read more

    TeleTrade-DJ International Consulting Ltd currently does not provide its services to residents or nationals of the USA, and also doesn't provide retail Forex and CFD accounts to residents or nationals of Belgium.

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