Widening of spreads for cross rates EURCAD, EURGBP, GBPCAD, GBPNZD and GBPCHF at nighttime 2009.03.11

Marzo 11, 2009 11:24

Dear Customers,

We would like to draw your attention to important amendments of Terms of Business that will be in force starting from March 11th, 2009. Item 4 in paragraph 11 (Spread) will be rewritten as follows:

“Admiral Markets has the right, in its sole discretion, but not the obligation, to widen spreads:

4) two or three times from 21.00 till 8.00 London time for instruments with limited liquidity.”

At the specified time the spreads for EURCAD, EURGBP, GBPCAD, GBPNZD and GBPCHF cross rates will be increased two times. Widening of spreads is carried out according to item 2 in paragraph 11 of Terms of Business and connected with low liquidity of the indicated currency pairs and the current abnormal market conditions (particularly, the “thin market” – periods when volumes of trade and quantity of acting quotations decrease, in comparison with normal market conditions).

Admiral Markets Ltd Technical Support