negative rates being charged on margins

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jas-105
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negative rates being charged on margins

Post by jas-105 » Fri Oct 05, 2012 9:58 am

I have just been told that I will be charged negative interest rates (LIBOR -1%) on margin posted at the exchange, regardless of net positive cash balance (ie cash excess after margin) ! This is as a result of the General Clearing Members looking for new revenue streams at a time of low volumes and interest rates.
Has anyone else been affected ? Have the clearing members gone mad ?

Imperium
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Post by Imperium » Fri Oct 05, 2012 11:48 am

When we pointed this out to our PB they then placed a floor at 0%. You can always point out to them how insane this is.

Alternatively, you can just sweep your excess funds out into a deposit account somewhere else.

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