XM increases Margin on TRY for Turkish Constitutional Referendum

April 12, 2017

Important Notice by XM about Turkish Constitutional Referendum.

XM increases Margin on TRY for Turkish Constitutional Referendum

Please note that there will be High Volatility expected due to “Turkish Constitutional Referendum”, which will take place on 16th April 2017.

The political event may affect financial markets and cause:

  1. Extreme market volatility
  2. Thin market liquidity
  3. Abnormal spreads and price gaps

The above situation may be seen especially in Turkish Lira (‘TRY’) pairs.

In order to prepare for the situation, XM is going to decrease the Maximum Leverage available on USDTRY and EURTRY.

The leverage for USDTRY and EURTRY will be up to 1:20(5% of margin requirement) from Friday 14th of April at 13:00 server time (GMT +3).

The temporary measure will apply on both new and existing positions.

The changes will be applied only temporarily, and all trading conditions will be back to normal shortly after the opening of the market and the announcement of the results.

Please make sure that you have sufficient funds to support your positions and you are recommended to pay extra caution to the market this weekend.

XM continues to update on the matter and provide market analysis throughout the event. For more information or inquiries regarding to this change, please contact XM support team.

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