30 January 2017

Margin rate changes for Turkish Lira (TRY) crosses

​​​​​Saxo will increase the margin requirements for TRY currency crosses on Thursday, 2 February 2017 at 13:00 GMT to 8%. We will also introduce a max...

​​​​​Saxo will increase the margin requirements for TRY currency crosses on Thursday, 2 February 2017 at 13:00 GMT to 8%. We will also introduce a maximum exposure of USD 5,000,000.

For customers on tiered margin, requirements for trading TRY will be raised to:


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.