Late on Easter Thursday the Central Bank suspended the firm. In a statement, MarketSpreads management John McGlade and John McNicholl reassured clients regarding their client money, and whithout directly saying it, pointed the finger at the events at WorldSpreads as the underlying cause of the suspension:
"Client funds are 100% intact and MarketSpreads is solvent and profitable. We are working with the Bank on the two issues raised which stem from prior to December 21st 2009 when the firm was owned and managed by others. Funds are releasable to clients as soon as the Bank says so. If you want to withdraw any or all of your funds
will take care of you. We want to be back in business soonest and will keep you updated. Call us on Dublin (003531) 8636666 if you have any questions. Either of us is also available to you at any time. We wish to thank clients for the magnificent support you have shown. Your trust in us is hugely appreciated. "
John McGlade, Joint acting CEO, 086 8105999, John McNicholl, Joint acting CEO, 086 6182165