Do not invest more money than you can afford to lose.
Saxo Bank Securities Co., the Japanese unit of Saxo Bank, a Danish bank specialized in providing online trading services, said on Tuesday it will increase the margins on four commodity futures – palladium, platinum, iron ore and low sulphur gasoil.
The margin hike is valid for both initial and maintenance margins. Following is detailed information about the new and old margins for futures trading in the four instruments:
Trading instrument | Sector | Currency | Initial margin prior to change | Maintenance margin prior to change | Initial margin prior to change | Maintenance margin prior to change |
Low Sulphur Gasoil | Energies | USD | 2,600 | 2,600 | 3,200 | 3,200 |
Palladium | Precious Metals | USD | 4,590 | 4,590 | 4,780 | 4,780 |
Platinum | Precious Metals | USD | 3,910 | 3,910 | 3,960 | 3,960 |
Iron Ore CFR China | Commodity Index | USD | 3,150 | 3,150 | 3,210 | 3,210 |
The new margins will be effective as of late 23 March, 2016.
The broker provided no information about its decision to alter the margins. It has been altering the margins of contracts for difference (CFDs) on the stocks of a number of major companies in the past few weeks.
Saxo Bank Securities Co. was renamed from Saxo Bank FX Securities Co. in January this year. It is a member of the Japan Securities Dealers Association (JSDA), the Commodity Futures Association of Japan, the Financial Futures Association of Japan (FFAJ), and the Japan Investor Protection Fund (JIPF).
The Japanese broker is part of Copenhagen-based Saxo Bank. The holding company holds a banking license from Denmark’s Financial Supervisory Authority (FSA) and acts as a brokerage firm and a market maker, offering trading in more than 30,000 instruments, including forex, binary options, CFDs, stocks, futures, and bonds through its proprietary online trading platforms SaxoTrader and SaxoTraderGO.
The group operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa.
Source: Saxo Bank Securities Co.
