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Temporary restrictions on crude oil trading

28.04.2020

Dear clients,

In regards to the high volatile crude oil markets, the sharp fluctuations in the price of crude oil by more than 50% in just one trading session, the unprecedented decrease in the price of crude oil May futures below $0 and because of the decisions of most financial brokers and a number of financial institutions (international liquidity providers) to impose restrictions on crude oil trading and to close positions in the event of further price devaluation, BenchMark decided to place additional trading restrictions on instruments based on the price of crude oil in MetaTrader 4 and 5 platforms - USOIL, UKOIL, WTI, BRENT. Restrictions will apply under the following conditions:

  • Applying “Close Only” mode for open positions in each of the above instruments, if their price drops below $5. This means that open positions will be able to be closed, but new positions will not be able to be open. Note: WTI is currently in “Close Only” mode.
  • Closing of open positions in each of the above instruments if their price drops below $3. This means that all open positions will be closed at market prices.

BenchMark will notify you promptly in the event of a change in any of these temporary restrictions.

BenchMark