LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
It isn’t just Retail Forex brokers raising margin requirements leading up to next week’s Brexit vote.
Today the Moscow Exchange put out a note to clients that, due to the UK referendum on membership in the European Union on 23 June 2016, volatility in some instruments traded on Moscow Exchange may potentially increase. To mitigate risks to member firms and NCC Clearing Bank (the central counterparty), the Exchange will increase initial margin requirements as follows for EURUSD and GBPUSD FX futures contracts that are most exposed to price fluctuations.
Moscow Exchange will raise margin requirements on EURUSD and GBPUSD FX Futures contracts in two stages next week, as follows:
- From 4.0% to 5.5% as of 1900 MSK on 20 June; and
- From 5.5% to 7.0% as of 1900 MSK on 21 June.
After the referendum results are announced, the Exchange will review the margin requirements again.