Interchange Organization seeking proposal to creditors for a voluntary arrangement

Published on 1 January 1970 by Raffick Marday

Moore Stephens LLP has been retained by Interchange Organisation Ltd to assist in the preparation of a proposal to creditors for a company voluntary arrangement.

Interchange Organization Limited (Interchange) of 4 Marble Arch London W1H 7AP which operates from several websites http://www.interchangefx.com which has stayed the same but the UK website http://www.interchangefx.co.uk/ have since updated their websites where now promotes the services of BaydonhillFX.

Speaking to Baydonhill they have informed us that there is no relationship between BaydonhillFX and Interchange Organisation and that they are offering a referral service to consumers looking to exchange foreign currency.

Interchange Organisation uses the Royal Back of Scotland PLC and were not FSA regulated or authorised so at this time it is unsure if the company operated segregated client accounts.

Interchange Organisation state on their website that

"we do not speculate on exchange rates or with client money. We keep our rates low at all times solely by buying in bulk, trading at fine margins and making reciprocal deals"

Interchange have been dealing in foreign exchange and related services for both private and corporate clients since 1999, where the Interchange Head Office has been based at 4 Marble Arch, London since 2003. The company has three major trading divisions:

  1. The Commercial division which provides services for companies and individuals requiring payments at commercial exchange rates.
  2. The Wholesale Bank Note. Dealing Cash Division provides bulk cash facilities to Businesses and Private clients
  3. The Retail Currency offers bureaux de change services from three London locations operating 7 days a week.

(Bsc) Director of Interchange Organisation have been servicing thousands of clients in several areas of the foreign exchange market. Lets hope we don't see a repeat of crown currency exchange.

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