Update on Covid-19
Update on Covid-19
As the Covid-19 situation continues to evolve, Argentex is taking a number of proactive measures to safeguard the health and safety of our employees and their families. In accordance with the recent UK Government guidance, all of our employees are now working from home.
We are confident our platform and operational effectiveness will remain unaffected whilst all staff work remotely, even for an extended period of time. Clients will see no change in the services and products they receive, and we continue to review our business continuity plans to ensure the business operates smoothly going forward.
For further information please contact:
Argentex Group plc
Harry Adams, Carl Jani (Co-CEOs)
Telephone: 0203 772 0331
FTI Consulting (Financial PR)
Ed Berry, Antonia Powell
Telephone: 0203 727 1485
Numis Securities Limited (Nominated Adviser and Broker)
Stephen Westgate, Charlie Farquhar, Laura White, Hugo Rubinstein
Telephone: +44 (0) 20 7260 1000
About Argentex Group PLC
Argentex is a UK-based foreign exchange service provider founded in 2011 by its current senior management and Pacific Investments. It operates as a Riskless Principal broker for non-speculative spot and forward foreign exchange and structured financial derivative contracts.
The Group delivers tailored foreign exchange advisory and execution services to a global client base consisting principally of institutions, corporates and high net worth private individuals. It provides a personal client-led service, improved pricing and a more efficient execution and settlement service than existing FX service providers, such as banks and larger broker-dealers.
The business assists customers with foreign exchange transactions which are related to genuine underlying business needs. It does not engage in speculative trades for its clients, nor does it offer margin trading, spread betting, CFDs or similar products and it does not speculate with its own funds as principal.
Since the business commenced trading in 2012, it has experienced significant year-on-year growth in customers, transaction volumes and revenue. Argentex has been profitable in every financial year since incorporation. For the year ended 31 March 2019, Argentex reported revenues of £21.9 million and operating profit of £9.4 million.
Argentex has a rigorous risk management culture and robust compliance procedures. It is authorised and regulated by the FCA as an Electronic Money Institution and is an IFPRU €125k Investment Firm. Argentex only trades with Institutional Counterparties with robust balance sheets, high credit ratings and sound capital resources and performs rigorous KYC and AML checks prior to accepting new clients.