We want to reiterate that market conditions leading up to and during the aftermath of the vote may lead to:
- Price gapping,
- Spreads that may be several percentage points wide,
- Hung or unfilled trades, or
- No liquidity at all.
In response to the potential volatility, at 00:00 GMT Thursday, June 23, Apiary will raise the margin requirements on all trades to 10%.
Apiary risk management team will be closely monitoring the fund and may halt trading or close positions depending on the overall risk and exposure to the fund.
These temporary risk parameters may persist over the weekend of 25th and 26th of June depending on the market reaction to the referendum result.
Thank you and Happy Trading,
Head Trader, Apiary Fund"