This day in history: September 23, 2013 – Alpari quits the US
We take a look back at “This day in history” within the world of FX taking a journey through annuls of time to look at the various groundbreaking developments that continue to take place in our fascinating.
Until three years ago, Alpari was a name synonymous with global retail FX.
From its original head office in Russia, the company expanded globally following the establishment of Alpari UK Group in 2004, which subseqently embarked on a global business footprint with offices in India, Britain, Cyprus, Germany and Japan having been opened, along with a representative office in China.
Global aspirations were most certainly on the agenda for Alpari, which was steered through its establishment across the globe by former Alpari UK CEO Daniel Skowronski who joined the firm in 2010 from Currenex, however one of the very first overseas markets that the company considered important was the United States, in which the firm arrived in 2006.
Alpari US LLC was incorporated in 2006 the same year that the firm entered Britain, and gained National Futures Association (NFA) membership in 2007.
Prior to the retraction of many of its overseas offices, some of which, including the office in India which was closed in 2014 to prepare for an initial public offering (IPO) that Alpari’s UK division had been planning but never excuted, the US entity was the first to be closed down.
Alpari spent the latter part of last decade expanding into new territories, however its global presence was relatively short lived, retracting back to its original home market gradually, culminating in the Swiss National Bank event in January 2015 having made its last remaining overseas entity – Alpari UK – insolvent
On September 23, 2013, under the leadership of Mr. Skowronski, Alpari exited the US market, transferring its clients to FXCM.
Just two months later, Mr. Skowronski left Alpari to join OANDA Corporation as Managing Director for the EMEA and Americas regions.