Changes to margin requirements of open positions

[pavlobee]

It appears that i've had a margin requirement change from 10% to 25% on open positions (of CO2 - Carbon Emissions commodity), with no notification let alone notice and  I can't find any details of the margin in the transaction history. The only reason I believe this to be true is I never had enough equity to buy at the prices my positions were opened at. As the trade went against me I couldn't figure out why I was so underwater, can anyone from IG confirm these changes and explain why if true, there was no notice of the changes.

Edited March 2, 2022 by pavlobee

[AndaIG]

Hi @pavlobee

There was a change on carbon emissions margin from 10 - 25% for new positions only. This would not have affected open positions hence no communications were sent. However at 09:00 the price did drop as low as 6099. Your positions were closed at 6108 due to breach of 50% margin rule. 

All the best, 

Anda

[MongiIG]

2 minutes ago, pavlobee said:

It appears that i've had a margin requirement change from 10% to 25% on open positions, with no notification let alone notice and  I can't find any details of the margin in the transaction history. The only reason I believe this to be true is I never had enough equity to buy at the prices my positions were opened at. As the trade went against me I couldn't figure out why I was so underwater, can anyone from IG confirm these changes and explain why if true, there was no notice of the changes.

Hi @pavlobee

The communication team sent out an email to clients that had open positions on relevant affected stocks. 

We have shared the list of affected stocks on the community : 

Please be aware that Margin changes will occur on FX as well :

I hope this helps.

All the best - MongiIG

[pavlobee]

Carbon emissions futures are not included in either of those lists 

[pavlobee]

2 hours ago, AndaIG said:

Hi @pavlobee

There was a change on carbon emissions margin from 10 - 25% for new positions only. This would not have affected open positions hence no communications were sent. However at 09:00 the price did drop as low as 6099. Your positions were closed at 6108 due to breach of 50% margin rule. 

All the best, 

Anda

Thanks for the explanation now it makes sense, I wasn't sure if the margin had changed or not and there is no way of checking changes to the margin requirements.