moscow exchange

Brexit  referendum is becoming more and more frustrating for most of the economies, from official state representative to different banks and brokers and Russian exchange is not an exception.

The Moscow Exchange has made an announcement for all its clients that as the UK referendum on membership in the European Union on 23 June 2016 is getting closer and closer, we can expect increase volatility in some instruments traded on Moscow Exchange. To reduce the risks to member firms and NCC Clearing Bank (the central counterparty), the Moscow Exchange will raise initial margin requirements for EURUSD and GBPUSD FX futures contracts, the most exposed to this volatility, followingly:

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 announcement of the referendum results, the Exchange will review the margin requirements again.

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