Following a meeting with the bank on 11th April 2012, MarketSpreads may be able to re-open trading within 2 weeks
In a statement on the MarketSpreads website, joint acting CEOs John McNicholl and John McGlade wrote:
Yesterday we met with the Bank and there were no surprises. Having been put through this extraordinary process, it’s arguable that, when we’re permitted to reopen, MarketSpreadswill be the safest place in these islands to have your spread trading account. Next steps:
Our auditors, who have already done a huge amount of work on them, are finalising the 2010 accounts. We have every prospect of getting this done in the next two weeks which will deal with the audit opinion issue.
The remaining issue is capital adequacy.
This is sortable we believe in the next week or so as well, working closely with the Bank. We are in the hands of the Bank. It is conceivable that your service will be back in action in the next 2 weeks. In the meantime the platform is available to you for checking prices and charts. Thank you for your continued patience and support."
Follow MarketSpreads situation as the news happens.
The management team at Market Spreads comprised of:
Sales and Marketing Director
Holds a BComm from UCD and has worked in Advertising, Financial Services, PR and dotcom companies over the last 20 years including Adsell, American Express and First-e. John has also run a number of his own businesses in recent years and is now charged with establishing MarketSpreads as the go to financial spread trading company in Ireland.
John is a Chartered Accountant with over 20 years experience. John joined from Johnston Press Ireland having previously held senior roles with Eircom and Smurfit Group. John has worked in head office, divisional and operating roles within these companies.