UK European Union Referendum
Dear Trader
There is an important referendum in the UK on 23 June 2016 regarding Britain
's continued membership in the European Union. Regardless of the final
result, significant volatility is expected across financial markets
worldwide, particularly in currency and GBP denominated equity markets.
Additionally, markets associated with EUR and EUR-linked assets are likely
to experience substantial volatility in the event of an unexpected result.
Firms around the world are taking preparatory steps to handle very high
volumes, and extreme price volatility.
Clients are strongly encouraged to examine their portfolios (especially
leveraged positions and/or those with short options positions) and capital
cushion in light of the potential volatility. If you have any GTC orders, or
any of IB's risk protection orders (stop, stop-limit, etc), we would
further urge you to review your order parameters in advance of the vote to
ensure they are properly defined for your investment and risk management
goals.