Vox reassures on Dealstream collapse

Vox Telecom CEO Doug Reed says the company has emerged stronger from the collapse of Dealstream Securities.

"The open derivatives position that has been hanging over us like a sword of Damocles for the past six months is effectively gone," he says. "90% of the derivatives have been taken out of the market and will be converted to shares. With those cut out of the equation, we're actually better off because the exposure has been reduced drastically."

Reed says Vox managers and employees remain upbeat: "So far as we know, none of our employees were in default of their margin requirements when Dealstream stopped trading. Our fundamentals remain solid and unchanged and we're keeping focussed on the work.

"This will in no way affect our delivery of services to our customers."