Please refer to this page for all platform and service updates from City Index.
City Index Service Updates
Updated on: 28th September 2020
Chinese National Holiday: 1st – 8th October 2020
The Chinese National Week holiday period (1st - 8th October ) will result in multi-day rolls for positions held on CHN pairs leading up to and including the holiday period:
- If you hold an open position on CNH pairs at close of business on 28th September: 9 days financing fees will be applied (covering the period rolling from 30th September - 9th October). However, there will be a normal overnight financing adjustment applied on 9th October.
- If you hold an open position on CNH pairs at close of business on 29th September: 4 days financing fees will be applied (covering the period rolling from 10th – 13th October). However, there will be a normal overnight financing adjustment applied on October 9th
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.
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.