Changes in margin requirements ahead UK Parliament vote

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FxPro Daily Economic Events
FxPro Daily Economic Events

UK Parliament to sit this Saturday, October 19, 2019. At the start of the session, UK Prime Minister Boris Johnson will update Parliamentarians (MPs) on changes to the Brexit Withdrawal Agreement he secured with EU leaders on Thursday.

Around 12:30 (UK Time) UK Parliament must consider the deal and vote on whether to approve it.

The Government needs at least 318 votes to win, but as the Conservatives are ruling without a majority, they will need to secure support from opposition parties to pass the deal.

Regardless of whether the deal passes or not, the markets may potentially have a massive jump of volatility in either direction as trading resumes on Monday morning.

We want to inform you that, in anticipation of increased market volatility in the coming days, leverage will be reduced to 1:30 on GBP crosses and 1:20 on FTSE100 on all FxPro platforms.

The change in margin requirements will come into effect on Friday, October 18, 2019, at 05:00 p.m. (UK Time) and will affect new positions only. Existing positions will not be affected.

Normal trading conditions will be applied soon after trading resumes on Monday morning.

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