Brexit spurs caution from brokers and platforms

"Nobody in the industry wants a repeat of the SNB, whereby clients suffered heavy losses and effectively became debtors," says ADS Securities' James Watson

balance-water
Finding balance: as Brexit looms, the FX market is weighing the risks

Financial intermediaries are raising margin requirements in certain currency crosses to mitigate heightened risks in the foreign exchange market, ahead of the UK's June 23 referendum on its European Union (EU) membership.

With the aftermath of the Swiss National Bank's (SNB) abrupt abandonment of the Swiss franc's maximum exchange rate against the euro last year still fresh in their minds, facilitators of liquidity say they want to ensure neither themselves nor their clients end up in a position

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