Ludwik Chodzko-Zajko IG

Morning all - please see below info sent earlier this week: There will be a delayed open on our cryptocurrency and weekend markets on Saturday 26 October, to allow for scheduled maintenance. We’re planning to reopen these markets at 12pm (UK time), rather than the normal 4am, however this is subject to change. We’re sorry if this causes you any inconvenience. If you have any questions about this or need assistance with your account, you can find answers in our help and support area or IG Community. Alternatively, our highly trained client services team is available by phone or email 24 hours a day from 8am Saturday to 10pm Friday. No changes to plan- on track for midday at this time. Thanks, Ludwik

Hihi, 30pt spread on weekend cable is fixed. We're looking at reducing if feasible / volatility permitting (for reference, narrowest indicative prices we saw from 1900 Sunday were 50 pts wide). How much of a factor in deciding whether to trade on the weekend is spread, what would you see as attractive to trade? Regarding true 24/7 trading - it's very difficult. We keep having to trade off between release time & platform up time - unfortunately trading hours aren't likely to increase soon. Only silver lining is that usually the 2200-0400 period is very quiet in terms of macro events. Open to any other feedback re. weekend markets. Thanks, Ludwik

It missed...

USDBRL trades as a non-deliverable forward (NDF), as Brazilian currency rules mean we're unable to take delivery of BRL. The running profit/loss (PNL) is converted back into USD (more info here if interested https://www.investopedia.com/terms/n/ndf.asp). US clients are restricted from trading NDFs as the PNL being in the first name currency (this applies to all our EMFX pairs) creates transaction reporting issues that we, so far, have been unable to resolve. We are attempting to find a work around, but no realistic timeline as of this morning. (Non- US clients can trade as normal). Thanks, Ludwik

We saw this as a direct reaction to Merkel's comments in the Hague. GBP rallied sharply against all other pairs, sharp uptick in flow across the board.

Hihi Yes, you can reduce your requested size to 0.01 (1,000 notional) in the trade ticket. See below:

Evening all, FOMC is set to cut rates by 25bps tomorrow evening. Substantial volatility likely - current probabilities below:

For those stuck inside today -CBRT set to cut rates by at least 200bps. Reuters consensus has been creeping lower, was 22%, now showing 21.5% - so now inching towards a 2.5% cut. Some LPs suggesting closer to 350bps* this morning. Central bank governor recently resigned after failing to subscribe to President Erdogan's view that cutting rates will reduce inflation. Reaction to this was fairly muted - might give them a bit more scope to cut further. Vol highly likely - one to be careful with. Should be interesting either way.

Slim but notable chance of a rate cut by the Fed this evening (1900 UK time). You can watch IGTV live over the announcement, both here on Community and within the dealing platform.

Evening all, The shares desk have confirmed there is limited borrow available in the market this evening - current borrow charge is 100% per annum, so pretty steep. Availability & cost will likely vary over the coming days. You'll need to call in should you wish to open a short position ( buying or selling to close can be done via the platform). In other news - Honest burger also sell the BYND patty. Few of us on desk had one this evening - probably not allowed to comment on how it was so I won't...

To price undated commodities we need 2 liquid futures. With bonds, virtually 100% of the liquidity is in the front month contract. We don’t offer any other undated bonds, but in the past the back month of the Bund has had enough liquidity to make offering an undated product viable. This is no longer the case - therefore we can no longer price the undated reliably. The undated contract will remain online so long as clients have open positions and we have no plans to force people out. We'll continue to offer the dated forward contracts (which you can see in the screenshot below). Any questions please ask. All the best, Ludwik

Evening @TrendFollower Still absolutely zero borrow available in the market. Indicative borrow charges (from one of our LPs) are hitting 600% per annum this evening, still no-one lending. Suspect we'll see decent volatility in this for a good while. Have a good WE.

Afternoon all, Large dividends we intend to post tonight: · FTSE – 23.75 - 1630 BST · DOW – 14.75 - 2100 BST Breakdown from BBG attached. You can see other Index dividend adjustments on our weekly blog post here. These are posted in advance and whilst we try and be as accurate as we can, we only post them given the best available information we have at the time. As you all know this is a cash neutral adjustment, but heads up in case you're interested. All the best (and for those in the UK enjoy the weather!). Ludwik

It depends. For shares the volume displayed would be that traded on the primary underlying exchange ( so, for example, with BARC it would be volume traded on the LSE, but not BATS, Chi-X etc). For other exchange traded products ( index futures, commodities, etc.) we'd use, broadly speaking, the volume traded in the front month underlying from the relevant exchange. So currently for the Germany 30 DFB we show volume traded in the Eurex DAX Sep18 (GXU8), and we'll move between contracts (so to DEC18, MAR 19, etc) as usual on expiry. With FX the OTC nature of the market means it's not possible to calculate, and therefore display, traded volume for the overall market. Our indicator shows the number of changes (ticks) in our aggregate bid/offer, which gives you a rough idea of volume.