FX Broker Argentex Nearly Collapsed After ‘Zero-Zero' Margin Dollar Trades
Argentex Group Plc, the UK finance firm set up to help customers manage volatile currency swings, should have taken some of its own advice.
The London-based brokerage amassed US dollar trades for its clients yet didn't obtain enough collateral from them in return, people familiar with the matter said. That's partly because Argentex pursued a high-risk strategy with some customers known as 'zero-zero lines,' according to the people, who requested anonymity as details aren't public.
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