Segregation of client funds
In accordance with FCA requirements, all client funds are held in segregated accounts separate from Gravity Market’s own funds in a regulated banking institution within the European Economic Area. This ensures that customer funds remain identifiable and available at all times and cannot be used by Gravity Market for any purpose. In addition, under UK insolvency law, client funds are protected and therefore unavailable to the company’s general creditors in the event of the company’s bankruptcy.
Gravity Market performs daily reconciliations with customer accounts in accordance with FCA requirements. This process ensures that funds held in segregated bank accounts always accurately reflect client assets. Gravity Market is regulated and is required to file monthly Client Monetary Asset Returns (CMAR) with the regulator.
Gravity Market’s client fund management controls and processes are audited annually by our auditors and reported to the regulator.
If the bank that is used to hold the funds of segregated clients goes into liquidation, the losses would be shared by the clients in proportion to their share of the total amount held with the defaulting bank. Any funds lost as a result of such liquidation of a bank regulated by the Prudential Regulation Authority (PRA) would be covered by the FSCS up to a maximum of £85,000 per client.
The Financial Services Compensation Scheme (FSCS)
The FSCS exists to protect customers of financial services companies that have gone bankrupt. The FSCS can pay compensation of up to £85,000.
- Client +5000
- Location Dublin, Ireland
- Creation date 3 June 2020
- Company capital 1 000 000€