The large and unexpected jump caused major losses for some currency traders. Alpari, a Russian-owned spread betting firm established in the UK, temporarily declared insolvency before announcing its desire to be acquired (and later denied rumours of an acquisition) by FXCM. FXCM was bailed out by its parent company. Saxo Bank of Denmark reported losses on 19 January 2015. New Zealand foreign exchange broker Global Brokers NZ announced it "could no longer meet New Zealand regulators' minimum capital requirements" and terminated its business.