This page has been archived and commenting is disabled.
FX Brokerages Move To "Close Only" Ahead Of Monday Open
First at Mayzus:
Upcoming risk - Instruments moving to 'Close Only' mode
Due to the uncertainty surrounding the ongoing Greek debt negotiations, and ahead of a potential announcement over the weekend that could lead to high volatility on the market, please be informed that we have decided to decrease your risks by temporarily moving all Instruments to 'Close Only' mode, from 22:30 GMT+3 on Friday the 26th of June 2015, until 00:30 GMT+3 on Monday the 29th of June 2015, trading terminal time.
Please take this information into consideration whilst making your trading decisions.
If you have any further questions regarding this issue, then please feel free to contact your Personal Account Manager or our support department on support@mayzus.com.
... next FxPro:
With Greece’s uncertain future in the Eurozone continuing to dominate the headlines, we would like to inform you that we are doing everything in our power to reduce the risk of trading EUR pairs.
In order to provide a safeguard against a highly volatile market open, trading on EUR pairs may be subject to increased margin requirements.
This depends on the outcome of today’s decisive Eurogroup meeting, and how the situation in Greece unfolds over the rest of the weekend.
Please be advised that, depending on the severity of market conditions come Sunday night/Monday morning, we reserve the right to limit EUR trading to the closing of existing positions only.
We will, of course, inform you of the trading conditions that will apply to EUR pairs before market open.
... shortly, everywhere else.
h/t misinfo
- 111660 reads
- Printer-friendly version
- Send to friend
- advertisements -


Thanks buzz. Yeah they're a little shitbox Cyprus broker. I got fucked over by a broker in Cyprus back when the CFTC required offshore brokers to register and meet their requirements.
Luckily it was a small amount of money, but they ran off with it and there was nothing I could do about it.
Cyprus Securities and Exchange Commission (CySEC) . rotflmfao.
...yeah, but, large explosions start from tiny sparks! I got my popcorn all buttered waiting for this one.
Agreed, not so sure if the sparks are tiny though. Last I saw the Chinese markets were down over 7% and Tylers referred to "The near-20% decline in equity values in a matter of days", (not sure of the timing of that).
If the Greeks don't do as they're told one might assume all markets will be punished to up the ante and the pressure. It's most essential to have popcorn ready just incase.
In before $15-US-dollar for a bottle of mineral water in Greece
Tis but a warm-up for what's coming.
When the real crisis hits, do people really think they'll have access to their 401K/IRA?
Reminds me of Pal's 2012 presentation, "The End Game".
Cashed out both my 401k and IRA this year. Ate the fees and taxes. At least I got half of it to pile into productive assets (land, buildings, well, solar) and more gold.
Also have a big wad of cash in my safe for the first time ever.
Tick tock...tick tock...
That safe should be your designated decoy, Buy a shovel and get some exercise.
It is built into the foundation. They will have to kill me and dynamite it out.
I do have a couple of stacks buried for good measure though...
Lead bullion?
Only one decoy Winston? In the realm of tin foil hats there is a decoy, in the realm of the faraday cage there are many.
You must have had a very boring life to be so trusting Ms.
i've had a truly amazing one, along with meeting the famous/infamous and doing biz with them,
also doing things that most will only daydream about.i have no bucket list, just things I would like to redo.
My paranoia has been fully and justly earned over the years. otherwise I would have been picked clean,
and buried in an unmarked grave long ago.
A little paranoia will save your ass.
Agreed, I was joking. Well kind of, I actually do have two decoys.
Not a bad move. I think there is actually much more time. If they get to locking down retirement accounts we will be already very far along in the endgame and I don't feel we are entering that phase just yet.
What happens when they ban cash?
NYSE is considering this as well, with the caveat that they will allow BUY orders only
One says buy another says close and then there are others not saying anything. Are the market makers and manipulators 'panicking' ????? Where's our 'Fearless Leader' when we need him ?????
the commodity market is zero sum, close order only means buy orders if the market players have shorted the market
Bullish (for everything but PM's), right?
No one is just long gold...folks are ALWAYS levered long gold too.
The Fed is CLOSING the dollar window? That doesn't sound bullish for precious metals to me...
In America, we keep the people ignorant -- deception by omission:
Stop whoring for Wall Street.
http://www.showrealhist.com/yTRIAL.html
http://patrick.net/?p=1223928
Might this Greece-based "Close Only" be a CYA event for masking/ending some of the above ignorance?!
Gold up $40 on Monday !!
Gold down $40.00 on Monday. Be nice if you were right though.
Gold will be stepped on regardless. Can't have it looking like there are viable alternatives to the moneychangers ... can we.
"Gold down four hundred dollars an ounce" it is then...
Help us, Kevin Henry, you're our only hope.
"We have decided to decrease your risk" is really "We have decided someone other than the market manipulators can pick up some easy cash". And you know we can't be having any of that.
Probably decided that they need to decrease their risk now that they realize being on the wrong side of the Greece trade.
Sounds like after the fact damage control rather than their implication of front running damage control.
After they blow everyone up, they will announce a new deal plan. They are playing this crap for volatility so they can make trades. No one would drag this process out for so long unless they were profiting. This was all solvable over a year ago. It can be solved at any time. This is why we use fake money. To solve these problems.
If Greece is left to default, resulting in initial turmoil in the markets that may/may not be quelled, that will be the sign that TPTB are ready to take this thing down in a controlled collapse the second half of this year.
Elul 29 may still live up to its billing yet.
As easy as the twin towers
NOOOO PROBLEMO
I have learned from many learned commentators' statements of the last few months that:
1. Grexit will not be a problem for Europe;
2. The markets had already priced in any effects of Greek default or Grexit.
See? No problem.
/SARC
It's no big deal. Greece will default and Mr. Yellen will print a quick trillion and bail out the German European banks. Problem will be solved in 15 minutes. It's that easy. I'm waiting for bernie sanders to announce his plan to bail out all student loans and give every American a check for $50,000. Average Americans need to be invited to the bankster's orgy. I plan on buying my kids new cars with my $50,000 check and take my wife on her long deserved carribean Cruise -she deserves it. I'm going to stock up on viagra in anticipation of the trip. Maybe I'll find me a young girlfriend to help me get back into my old form.
All that with only $50,000? Keep dreaming...
Two Geelys and a weekend in Haiti ?
Savy, the trillions haven't been printed yet, just wired around the globe. When they do print the notes will be new and the $100 bill will replace the $1 dollar bill for starters.
Bernie 2016
It's high time we get OUR shot at the inkwell before the SHTF
You read it here first:
Bernie's plane will crash on the way to his first debate with Empress Inevitable
So true .... but isn't it different this time ? ;-)
go on, A MAYZUS with your intellectual prowess.
From the previous article to this one,
"Eurozone Rejects Greek Bailout Extension: All Bailout Programs Expire On June 30, Referendum Moot"Doesn't this mean that we have a true bonifide official default with no recourse Tuesday midnight in EU land or IMF land (Wash DC) or both ?
There may be a hidden financial explosion in the works. It will take a few days to play out.
BOOM?
Nothing means anything when they can change the rules to suit the house at any time. Stay away.
"Decided to decrease your risks" reminded me of the East German DDR saying they built the 'wall' to keep West Germans out. What else can they say.
If you give me your freedom tomorrow, I'll protect you today.
How can they efficiently and honestly RIG markets while they are open, and reprice "assets" to assure "stability" and save the financial system?
BTDT!
Greece might default in drips and drabs. As each new payment comes due, they simply do not service it. And then watch the EU reactions. Then wait till the next payment due, fail to pay, and watch again. A step by step default, at least to begin with?
There is no telling the consequences, do we know where the bodies are buried, and who is swimming naked? Gonna be a hell of a show finging out who hold the bag. A full default of 350 billion Euros is nothing to sneeze at, enough to bury many banks, hedge funds and pressure the ECB to save them.
The EU. by it's own laws, should not have allowed Greece into the EU or Euro. Laws were broken to get them in. I see this default as real justice to those who faked and hid the reality of an illegal Greek entry into the EU.
......broken by the influence of Goldman-Sachs....
Re: " hid the reality of an illegal Greek entry into the EU"
GS, who perpetrated the fraud is positioned to profit from their position using non-public information concerning the fraud.
This means their profits are illegit, as proceeds of criminal action.
These bankers are nothing but criminal corporations.
Humanity demands justice.
"God's Work, but the Devil is in the details," Goldman Sachs :)
"...illegal Greek entry..."
Now, that's funny, right there.
Roll over and take it like a man.
Correct Jack Burton but as we know there is no real justice for the perps; just more pain for the roiling, pacified masses.
Are youi fucking kidding me ZHers??? lmao (me included) There is a master plan in place and with the stroke of a keyboard....this too will pass and we'll be screaming higher by Monday Morning. I never dreamed in a million years this shitshow would keep going without so much as a minor setback....This Greek hype is nothing but theatre for the sheeple......keep your eye on the fucking ball....wait a minute....where's the fucking ball anyway....that's the problem.
The ball is in Wall Street's court and they're just running down the clock.
what happens with euro (physical cash) if greece starts using drachmas ?
What is amount of physical cash (euro) in greece ?
It could be that MAYZUS is just the one designated to bell the cat, or it's just another psyche op game within the game. -again.
..been a busy week, they are packing in double portions lately, must be something in the air.
Pardon silly question but what does "Close Only mode" for where instruments are moved mean?
Please do not worry.
If it's electronic, how can you tell if the serial number of that Euro note starts with a Y!!!!
omg.
What is this .... the Parthenon Post .... "All The Greek That's Fit To Print" .... I was actually glad to see a Michele story .... and tonorrow .... Never On Sunday .... a Banzai cartoon about Greece .... enough, already .... it's all rearranging the plates .... at a Greek wedding .... before they smash ém .... good grief !
Greek, European and soon worldwide banks will be announcing their version of the restriction: "DEPOSIT ONLY TRANSACTIONS".
Hotel California - you can check out any time you like but you can never leave
Stats and charts on the decimated sea lion populations in california
http://nukeprofessional.blogspot.com/2015/06/pacific-seals-dying-enmasse...
I just checked my 401k and it's all gone.
Dontbyou guys get to chose asset allocation within your 401K's? I moved my equivalent in to cash two weeks ago
Yes, everyone has the option to move to cash and equivalents in their retirement plans. That's why I don't believe most of these morons who said they cashed them out and paid taxes, penalties, etc. Truly folks who belong in MyIRA's if what they say is true.
To suppose that a desperate and collapsing state will respect the sanctity of this huge pile of private capital in its own moment of crisis is a chimerical idea.
It's hard for me to assess such claims one way or the other. I have neither the opportunity nor the danger of such an investment.
But one thing I know to be true--
The big pot of 401k money is not easy for the actual owner to get their hands on immediately, yet the entire universe of such things can be seized with one little regulatory change. So it would be faster for the authorities to seize it than it would be for the owner to spirit it away to safety in the event of a crisis.
Since this probably represents the largest glob of capital on the planet, it's "conversion" or "nationalization" is guaranteed. Of course the former owners will probably receive a monthly check, but the capital itself will be gone and they will be supplicants at the foot fo the bureaucracy-- just like Social Security recipients.
I see big growth opportunities in the future of the "Early Bird Specials".
People with 401k plans are ultimately placing their bet on a lengthy continuation of the current state of affairs.
@tarabel summed it up pretty well...
...but one key point was missed...
Having your 401k allocated to cash is a good start, but what good will cash sitting in an illiquid account (1) that can easily be seized (2) denominated in dollars that could quickly lose value in a serious financial crisis (3) do for you??
Obnoxious sentence, yes...but my point is that I would rather take the hit now (50% fees and taxes, give or take) and put that into PRODUCTIVE ASSETS (land, house, barn, greenhouse, well, solar panels, etc...in a relatively stable LatAm country, in my case) or assets that are likely to thrive in a reset (precious metals, seeds, guns, ammunition, medical supplies, etc).
You can enjoy your "cash"....talk to me in a couple of years and see who is better off. I choose to take my haircut now and make my money work...
"I moved my equivalent in to cash two weeks ago"
One should carefully read the prospectus of the "cash equivalent"
One should also become acquainted with the term "Breaking the buck"
Here is just a sample Money Market account prospectus, which many 401(k) plans have as a cash equivalent.
http://www.vanguard.com/pub/Pdf/p030.pdf
Refer to this nifty caveat:
Where's the Ramirez comic on this shit?
You have to understand that the markets closing is not a problem. As long as the markets don't go down in value, everything is OK. So closing for good at the high would be good in fact.
Another example of managing the "free market"...
This kind of remind me of recent ruble scare. When usd/rub was spiking like no tomorrow. I wanted to short it right at the climax when the news were scaremongering at its best and price action went full retard, yet my broker shut the pair down. Just a few days later I read on ZH that ruble appreciated 30% against dollar. I was prevented to make money by my own broker - for my protection.
You obviously didn't qualify. You get to ride in the back of the bus with the rest of us.
Of course. You're just a pleb...you dont know whats best for you.
So is this it then? Mom and Dad are getting divorced so Dad can be with that hottie from Kiev with the genital warts?
Want to know how bad inflation is in NYC. The bums are now asking for dollar 25
LOL
So now we know why gold got it in the nuts last week.
Peace Prize has ran up the U.S. credit card to 18 trill. Up from shrub's 10 trilil
How high will it go if he has to have Granny crank out more Yellen green ultra plush to pay off the dipshit Eurotard's oopsy daisy
Peace Prize and Shrub loose with a credit card. LOL. Thanks for the laugh this morning!
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... http://bit.ly/1LCjofJ
Maybe your sister could save the world!
Oh great. Why bother letting free market capitalisim take it's course.
One guy in our department went on vacation this week, and now we are all in crisis mode, because we can't have overtime. The only people that have a vested interest are the department managers, because they all make close to 20 or more per hour.
It is all just one clusterfuck. Why bother?
Because I got to fucking eat! and I will not go on EBT!
SH
Saying no to swap lines being opened to Europe ala 2008...indeed this is the exact opposite!...sure sounds like Capitalism to me.
"If equities correct twenty percent in the USA why am I levered long gold again?"
Talk about a Margin Call...
When markets go sideways and the political elite or banksters always wait until late Friday to make the announcement at the end of the trading day. This is obviously to give the big players time to huddle and 'collude' over the weekend so they can hit it running first thing Monday. Just once I would like to see the announcements of when market shit is going sideways in the middle of a week day just fuck things up. Tuesday at 10:05am would be nice a time for such announcements, enough to put a little jump in the algo traders cpu and scare a few banksters broke.
close only!. what the *%$@ does that mean?
http://albainternazionale.blogspot.it/2015/06/attacco-in-tunisia-inside-...
Tunisia Inside Job ?