Margin-rate-changes-for-Turkish-Lira-feb-2017

​​​​​​On Thursday, 2 February 2017 at 13:00 GMT, Saxo will increase the margin requirements for TRY to 8% on our White Label relationship.

If you have defined customised margin requirements towards your customers, we encourage you to monitor the political developments in the region and to contact Client Configuration at IAMSGP@saxobank.com to agree any necessary changes.

If you are utilising Saxo Standard Margin and your customers are trading on non-tiered margin requirements, the TRY margin rate will increase to 8%. In addition, we will introduce a measure of maximum exposure (NOP) on Saxo’s standard exposure profile at USD 5,000,000.

If your customers are on tiered margining, the TRY margin requirements will be elevated to the following rates:

Tier

Margin Rate %

Lower Bound (USD)

1

8

0

2

8

1000000

3

15

3000000

4

15

5000000

5

20

10000000

6

100

25000000

7

100

50000000

 

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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