Service updates

Please refer to this page for all platform and service updates from City Index.

City Index Service Updates

Updated on: 25th March 2020

Short-Selling Ban – French, Italian & Belgian Equities

As of 18.03.20 the exchanges have imposed a minimum one-month restriction on short-selling of all French, Italian and Belgian Equities. Whilst the ban is in place you will not be able to open any new short positions in the affected markets. Existing long and short positions will not be affected and can be closed in the normal way. If you are holding a short position in these markets, you will not be able to add to that position.
 
Market Volatility

Due to recent high volatility, there is a heightened risk of gapping at market open. Ensure your account is adequately funded to maintain your open positions.
Additionally, during this time some markets may become either ‘limit down’ or ‘limit up’, restricting your ability to trade them. For further information on the impacts of this see below. 

Limit down

A limit down price is the maximum sell-off permitted in a market on a single day of trading. Once this level has been reached, trading on the market may then be restricted to prevent significant volatility and potential panic selling. A limit down price is typically determined as a percentage decline in a given market, rather than a nominal decline in price.

A limit down period is imposed by an exchange (such as the NYSE) and not by brokers. It usually lasts 15 minutes but may be extended depending on the percentage decline before market open. Limit down does not impact FX trading. 

Please note that a limit down only restricts selling on the affected market(s).

Margins and spreads

In response to the high volatility, please note that spreads and margin levels may be reviewed and adjusted. Check the Market Information Sheets on our platform for the latest information.

Inactivity Fees

Our Pricing and Fees policy mentions that a small inactivity fee may be charged to clients who hold a balance in an account that has not had any activity for 36+ months (retail clients) or 12+ months (professional clients).

We can inform you that we will not be deducting any inactivity fees during the month of March 2020.