Categories: Economy

TL warning ahead of Swiss company election

From Swissquote to clients: closing TL positions ahead of the election

With the elections in Turkey just days away, Swiss Swisquote urged its clients to close their pre-election Turkish lira positions to reduce their risks.

The Swiss banking services company has informed its clients that it will suspend lira transactions from May 5 to mitigate the risks of the Turkish elections on May 14, according to a memo sent to clients and seen by Bloomberg.

‘UNTIL THE END OF MAY 15…’

In the article, “To reduce the risks related to market fluctuations during this period, we kindly ask you to close all TL positions until May 5 (17:00 CET). Swissquote will close all remaining open positions after this closing time.

The institution also stated that it will not provide any price flows in lira-linked parities from the end of May 5 to the end of May 15.

Source: Sozcu

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