Capital Index prepares for EU referendum; will change margin rates pre and post election
British electronic trading firm Capital Index will make margin increases on June 17, and readjust margin rates on June 22 as part of pre and post Brexit vote risk management
The forthcoming referendum on Britain’s membership of the European Union is only 9 days away, and FX brokerages are continuing to make provisions for a potentially volatile currency market in the pre and post referenum period.
The referendum is scheduled to take place in the United Kingdom and Gibraltar on 23 June 2016, and is a very important milestone in British and European history, whichever way the voting goes.
Currently, the opinion polls that are being closely monitored by the electorate as well as commercial enterprises and government officials alike, show that those currently in favor of Britain’s exit from the European Union, and those who would prefer the country to retain its membership, are almost equal in numbers, making the outcome very difficult to gauge, even at this close stage.
Last week, FinanceFeeds elaborated on the economic and market-related factors that surround the referendum, and the historical timeline regarding Britain’s membership of the European Union and European Economic Area since 1973.
The referendum is the very first that has ever taken place on this matter, and many companies are looking at risk management and safeguarding their clients interests as well as protecting their business against volatility.
Today, Andrew Palmer, Head of Marketing at British electronic trading firm Capital Index, explained to FinanceFeeds “On Friday 17th June, the Capital Index margin rates on the European indices and all GBP and EUR currency pairs will be changing to the margin rates shown on the chart listed below, with additional increases to follow on Wednesday 22nd June.”