Users of C-NEX platform told to settle trades by October 18th
YJFX’s “C-NEX” service will be discontinued at New York close on November 8, 2019.
As previously reported, the offering of the “C-NEX” service by Japanese retail FX broker YJFX will be discontinued at New York close on November 8, 2019. Today, “C-NEX” informed its users of the deadlines regarding settling their trades.
Traders are advised to settle their trades by Friday, October 18, 2019. After that, the company will have to “force settle” any open positions. The requirement applies to all orders, such as limit, stop loss order, IFD order, OCO order, etc.
There was no detailed explanation about the reasons for the termination of the service. The brokerage, however, provided elaborate guidance to users of the service on how it will proceed with the termination and what the traders need to do to get back their funds.
The brokerage also noted that it had made the decision after gauging a variety of factors. It said that it was difficult to continue to provide “C-NEX” but added that it would use the accumulated know-how to further improve the quality of the services offered.