Dukascopy reports 80 accounts turned negative on March 9th
Dukascopy says that the negative account balance of these 80 accounts totalled $340,000 which is in line with the bank’s risk appetite.
Dukascopy Bank has posted a statement in response to general concerns about the financial situation of the market participants after the recent oil and stocks price drops as well as high volatility on the currency markets.
Dukascopy Bank says its year-to-date profit for 2020 has reached a historical record (above CHF 8 million).
In response to accounts incurring negative balances as a result of the recent market developments, Dukascopy reports that 80 such negative accounts appeared on March 9, 2020, totalling $340,000 which is in line with the Bank’s risk appetite. Dukascopy Bank says it will clear those negative accounts at its expense. It will not be asking clients for any compensation.
The bank notes that all risk mitigation measures in place have proven to be effective and adequate to ensure the stability of the company during current and previous extraordinary market events (abandon of the EUR/CHF peg, BREXIT, Trump election, etc.). Such measures are regularly reassessed and adjusted by the Bank.
The Bank says that Dukascopy Bank, Dukascopy Europe and Dukascopy Japan continue to be reliable and stable trading counterparties.