Turkish Local Elections
March 27, 2019 @ 19:23 UTC
Next Sunday, 31/03/2019, Turkey will hold local elections in order to elect its local representatives.
As a result the following restrictions were applied from 27/03/2019 at 17:00 GMT+2:
– TRY Forex pairs were changed to “close only” mode;
– Swap values were increased ( EURTRY Long -8230.0000 / Short 5079.0000 and USDTRY Long -7135.0000 / Short 3521.0000)
The event is expected to cause significant volatility in the financial markets;
FxPro makes all possible efforts to keep spreads at a minimum, even though wider spreads are to be expected;
In case of extreme volatility and illiquidity, FxPro reserves the right to refuse the opening of new positions, enabling ‘Close Only’ functionality;
Should market conditions deem it necessary, FxPro reserves the right to make additional changes to the trading conditions prior to and after the Turkish Elections;
FxPro reserves the right to allow fixed spreads to float prior to and in the aftermath of the Turkish Elections so as to reflect underlying market conditions.