Betaville

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Cough up or sell up Posted: 22 Jun 2016 01:00 PM PDT Market participants are going to have to stick their hands in their pockets to keep trading companies, indices and currencies over the next few days. That's because brokers and spread betting firms have begun demanding traders and hedge funds put up more "margin" to cover existing positions during the conclusion of the Bexit referendum, according to well-places sources. IG Index, for example, has told clients the starting margin rates on GBP currency pairs will increase to 6pc today while the starting margin rate on the FTSE 100, all European indices and EURO currency pairs will increase to 3pc. While IG told clients starting margin rates on major UK shares and all UK sectors will remain at 10pc during the referendum, margin requirements "could rise" to keep open positions running. IG Index is not the only broker asking traders to cough up or sell up. A senior executive at a rival spread better confirmed his outfit had asked clients to the same because otherwise "we could have absolute carnage"...

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