Dear Traders,
As most of you are already aware, there is a lot of uncertainty being built around a potential “Grexit” following Greece's missed loan repayment of 1.6 billion to the IMF. The markets have been shaky right from the start of this week and the situation is expected to become more volatile as a referendum is scheduled to be held on Sunday, 5th July 2015.
Liquidity is expected to be lower than usual during this time due to extremely high volatility and abnormal market conditions, especially the Euro and its major trading partners. This may have a significant impact when the market opens at 9:00 PM GMT on Sunday, July 5th ( 00:00 Platform time on Monday, July 6th). Therefore, be sure to closely monitor any open positions going in to the weekend to prevent any unwanted exposure to this event.
In order to protect against any uncertainty & to ensure uninterrupted Trading environment, we may take action and limit the trading in EUR pairs, this may include limiting EUR based pairs to "close-only" or reducing the leverage before market close this Friday, any changes will also apply to pre-existing positions. We request that you review your positions and ensure that you have sufficient margin to maintain them, taking into consideration the possibility of an increase in margin.
If you have any questions or require any assistance, please contact one of our support team members via Live Chat, email: support@icmarkets.com, or phone +61 (0)2 8014 4280.
Kind regards,
IC Markets Trade Desk
