Saxo increases spot FX margins
Claus Nielsen, executive director and head of trading at the bank in Copenhagen, said the changes were implemented to reflect the "continued volatility and increasing risks in the financial markets".
Effective 4pm GMT on Wednesday, the company doubled its Russian ruble (RUB) margin from 2% to 4%, and raised Iceland kronur (ISK) and Turkish new lira (TRY) from 8% to 12%. Margins for South African rand (ZAR), United Arab Emirates dirham (AED), Bahrain dinar (BHD), Jordan dinar (JOD), Kuwait dinar
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