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IMPORTANT INFORMATION IN JUNE
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MULTIPLE IMPORTANT ANNOUNCEMENTS

Dear Valued Client,
 
We hope you are keeping well. We have some important announcements for your consideration this month.

 

BREXIT REFERENDUM - EXTREME VOLATILITY WARNING

 
As many of you are already aware, on 23rd June, the UK will hold a referendum to decide whether it remains part of, or exits the European Union. We have already been experiencing an increase in market volatility ahead of the vote and we expect this to continue in the weeks ahead, and even possibly have global "aftershock" ripples following the referendum.
 
Whilst these market conditions may present many lucrative trading opportunities, please be aware that they may also result in significant risks being assumed for those who decide to trade through, or around the event. There is much uncertainty surrounding the event and it is anticipated that it will significantly affect markets worldwide.
 
Some of these risks inherent with an event of this magnitude may include huge whipsaw moves and spikes, significantly widened spreads, deterioration of technicals, LP disconnects and price pulling, stop losses and take profits being largely slipped due to reduced liquidity, and an increased probability of gap risk.
 
Please remain safe and always remember to trade with a plan, or adjust your exposure accordingly. Please refer to our RISK DISCLAIMER and TRADING RISKS for a full scope of market specific risks.

 

CFD MARGIN CHANGES, DUE TO BREXIT

 
As a result of the above, effective June 10, 2016 end of day, we will be increasing the margin requirement on all CFDs. Requirements are going to double at a minimum, with the exact amount increased reflecting the magnitude of potential impacts.  Specifically, DE30 will have 4% margin requirement and UK100 will have 10%. Please click here to download the latest CFD specifications list.

 

DISCONTINUATION OF CH20

 
Please be advised, we will be discontinuing our offering of CH20 on June 3, 2016 due to an updated liquidity schedule. Please make sure to close out all open positions by June 10th, 2016. Otherwise, any remaining open positions will be closed by us at 21:00 GMT June 10, 2016.
 
 

NEW LIQUIDITY PARTNERS

 
During the second half of May, we have brought on new liquidity partners in an ongoing attempt to improve both pricing and depth for large ticket traders.  Specifically we have traded out one of our largest bank and non-bank LP sources out for improved ones. This has brought a significant improvement on both depth and spreads to the tune of a 20% overall improvement, especially to our EURXXX pairs.
 
However we feel there is room for even more improvement on some of our currency cross pairs. Thus, this month we will be looking to bring even more partners on board for aggregation. We as always appreciate and welcome any feedback on this. This is often a delicate process and one that has many areas of consideration for us in particular having a DMA clearing model as it is often very dynamic, especially with the anticipated volatility this month where many LPs are more skittish and edgy than normal as it relates to pricing and margin.
 
Rest assured we remain committed to continually improving our offering and stay true to our model of always streaming the “real market” to our traders.

 

xCORE UDPATE FOR API TRADERS

 
A new version of xCore was anticipated to be rolled out last month, but has been bumped up to this month. Please expect some rather significant upgrades in the new version. Those of you running on the current version are scheduled to be upgraded over the weekend of the 18th, and it will be seamless. Those waiting to start with the new build will be able to begin from the 19th onwards.

Thank for your time, and please take this as a final reminder to be wise and safe with your trading plans this month.
 
If you have any questions or concerns about any of these updates or your Client Agreement in general, please do not hesitate to contact us at any time.
 
Sincerely,
Mt.Cook Financial

  Mt.Cook Financial
  Boutique, Bespoke Services

 
  Email: info@mtcookfinancial.com
  Web: www.mtcookfinancial.com
  Phone (EU): + 386 (1) 600-1626
  Phone (US): + 1 (866) 672-8733
  Fax:  +1 (866) 672-8733



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