Australian FX and CFD brokerage AxiTrader has taken the decision to cease to offer Hong Kong Dollar and Danish Krone Margin FX Contracts.
This decision is due to a number of interbank foreign exchange market participants withdrawing their market-making or custodial services in these underlying instruments. AxiTrader has reasonably determined that it will be unable to maintain an orderly market in these currencies and will therefore cease to offer these contracts.
Under clause 20.1 of the company’s Customer Agreement, AxiTrader has sent an email to all clients which serves as formal notice that AxiTrader will cease to offer the instruments as at Close of Business on Friday 30 January, 2015.
Customers shall not be able to open new positions from the Close of Business on 23 January, 2014.
With regard to when these changes will take effect, HK Dollar and Danish Krone contracts will be set to “close only” at close of business on Friday 23 January, 2015, and ll trading will be suspended at the close of business on Friday 30 January, 2014.
On this basis, AxiTrader has stated that customers are requested to close all open transactions before 3pm New York time (22:00 Server Time) on 30 January, 2015.
For traders which do not take the action in closing trades, AxiTrader will close all open transactions at the prevailing AxiTrader price as at 12pm New York Time (19:00 Server Time) 30 January, 2015