XTX Markets sued Mazars, now known as Forvis Mazars, over its decision to refuse to take on the company’s global payroll work due to Russian links. Mazars said XTX owner, Alexander Gerko, had Russian connections and could fall under the UK sanctions regime against Russian after the Ukraine invasion so would not take on the company as a client.

The case was heard at the County Court for Central London and centred on a claim by XTX for direct discrimination by Mazars against Gerko under the Equality Act 2010.

XTX is headquartered in the UK and has 200 employees worldwide from London and New York to Singapore and Sydney, with an ultimate holding company based in the Cayman Islands.