We would like to inform our clients that the upcoming Turkish general elections due to take place on Sunday, 1st November 2015, may lead to extreme market volatility, thin market liquidity, abnormal spreads and pricing gaps on the USDTRY and EURTRY currency pairs.
In order to protect the Company and our clients, XM will implement the following measure: from 21:00 server time (GMT +2 time zone) on Friday, 30th October 2015, the margin required for both new and pre-existing positions will be temporarily increased to 1% (100:1 leverage) for the USDTRY and EURTRY currency pairs.
This temporary measure will be waived on Monday, 2nd November 2015, within 1 hour from market opening and the margin requirement for USDTRY and EURTRY will be automatically readjusted in accordance with the previous leverage settings of each client’s accounts.
This measure will only affect clients who wish to maintain positions in USDTRY and EURTRY currency pairs during this time period. Clients who will be trading these pairs should ensure that their accounts are sufficiently funded in order to avoid any disturbances in their trading activity.