We would like to inform you that the upcoming Italian Constitutional Referendum, which will take place on the 4th of December 2016, will possibly lead to increased market volatility, thin market liquidity, abnormal spreads and price gaps in EURO currency pairs and stock markets.
In light of the referendum, and in order to protect our clients and our Company from the anticipated market turbulence resulting from the referendum, XM will implement the following temporary measure:
From 10:00 p.m. server time (GMT+2) on Friday, 2nd of December 2016, the margin required for all positions (for opening new positions and for maintaining existing positions) will be temporarily increased for all instruments to:
- 1% (100:1 leverage) for EURO currency pairs, Gold and Silver and
- 3% (33:1 leverage) for all CFDs on Equity Indices and Commodities.
This temporary measure will be completely waived for all affected positions, and margin requirements will revert back to normal (as per normal client account leverage settings) by Monday 5th of December 2016, shortly after the announcement of the results of the referendum and the opening of the markets.
Clients who intend to keep open positions during the weekend, should ensure that their trading accounts are sufficiently funded to avoid any disturbances from possible margin calls and/or stop-outs in their trading activity.
