Admiral Markets AS Closes Its Branch in the Czech Republic
On 11 June 2018 Admiral Markets AS will close its "Admiral Markets AS, organizační složka" branch, established in the Czech Republic.
The closure of the branch is related to the strategy implementation of the parent company of Admiral Markets AS — Admiral Markets Group AS. As part of the strategy, Admiral Markets UK Ltd., an investment company belonging to the same consolidation group, has established several branches within the European Union, including the establishment of a branch in the Czech Republic, for which the Board of Directors of Admiral Markets UK Ltd. has decided to become fully operational starting from 11 June 2018.
Since the continuation of Admiral Markets AS branch offices in the same countries as Admiral Markets UK Ltd. has been assessed as unnecessary and impracticable, Admiral Markets AS has decided to close the branch established in the Czech Republic and continue to service its existing and potentially new customers in the Czech Republic on the basis of a cross border activity license.
The interests of Admiral Markets AS clients from the Czech Republic are still protected through a respective service agreement concluded with the sister company Admiral Markets UK Ltd.
Admiral Markets AS does not plan additional changes to its existing clients due to the closure of the branch, including the termination of their contracts.
Chairman of the Management Board of Admiral Markets AS
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