Saxo Bank Securities Limits Trading on Turkish Lira Pairs

Saxo Bank Securities Co., Ltd., the Japanese subsidiary of multi-asset investment specialist Saxo Bank, has announced changes to trading conditions for currency pairs involving the Turkish Lira (TRY), citing heightened market volatility.

The move comes as the Turkish Lira experiences its steepest decline since 2021, triggered by ongoing political turmoil in Turkey. In response, Saxo Bank Securities aims to mitigate the risk of customers unintentionally trading at highly volatile prices by implementing revised trading hours and restricting options trading on Turkish Lira-related currency pairs.

Saxo Bank Securities Limits Trading on Turkish Lira Pairs

Under the new regulations, trading hours for Turkish Lira currency pairs will be adjusted to 16:00 to 1:00 the following day. Once European Summer Time takes effect on March 30, the hours will shift to 15:00 to 24:00. The adjustment aligns with periods of greater market liquidity and reduces exposure to erratic price fluctuations.

Furthermore, Saxo Bank Securities has suspended all new transactions in options on Turkish Lira-related currency pairs. While traders can still settle existing positions, Saxo Bank Securities will not accept new orders. This measure aims to prevent excessive risk-taking in an environment of unpredictable currency movements.

Saxo Bank Securities stated that it will continue to monitor market conditions closely and may implement further measures as necessary. Possible actions include additional trading restrictions, further modifications to trading hours, or lifting existing limitations should the market stabilize.

The brokerage firm urges investors to stay informed about potential updates and exercise caution when trading in volatile market conditions. Saxo Bank Securities remains committed to ensuring a stable and secure trading environment for its customers.

Company Overview

Saxo Bank stands out as a premier multi-asset broker, offering exceptional research capabilities and an exceptional trading platform, along with an impressive array of over 70,000 tradable instruments, which include spot forex, FX options, NDFs, CFDs, stocks, stock options, exchange-traded funds, ETNs, futures, and 33,000 bonds. For engaged traders, Saxo Bank offers a comprehensive and immersive trading journey, boasting an extensive toolkit, research resources, and premium features.

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