Margin rate changes for Turkish Lira (TRY) crosses

Saxo will increase the margin requirements for TRY currency crosses on Thursday 2nd February 2017 at 13:00 GMT to 8%. We will also introduce a maximum exposure of USD 5,000,000.

For customers on tiered margin, requirements for trading TRY will be raised to:

TierMargin Rate %Lower Bound (USD)
180
281000000
3153000000
4155000000
52010000000
610025000000
710050000000

Saxo is taking this action due to the continuous devaluation of the TRY over the last two years and the continuation of elevated volatility in TRY pairs which have continued into 2017.

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