Margins are already being hiked in some GBP markets
Something to watch out for over the next few hours. We’ve been informed that CMC North America has doubled GBP margins to 8% from 4% effective end of day. It’s likely to be the same across all their accounts and entities.
Ahead of the House of Commons Brexit vote on Tuesday, 11 December 2018, the Position size for all tiers and Margin Rates for Tier 2 and above will change temporarily for some of our Products. The Margin Rates for Tier 1 will not change. The temporary changes will take place from 5:00 PM EST on Monday 10 December and will be reverted to normal at approximately 4:00 AM EST on Wednesday 12 December 2018. We will confirm by email once the Margin requirements are back to normal.
If you’re in GBP pairs and UK assets, it might be worth checking with your broker to see if there are any changes coming. Feel free to drop us any notes regarding other brokers int he comments and I’ll keep things updated.
h/t Roro in our live room.