Online spread betting and CFD brokerage Capital Index has moved to address concerns over the impact that the UK’s decision to vote to leave the European Union (EU) will have on business.
In a statement, the company said that despite “exceptional volatility” seen on the two days immediately after the vote, the company incurred no losses and all of its systems continued to operate as normal.
Last Thursday, a majority of 51.9% voted for the UK to leave the EU, while 48.1% voted to remain, in one of the biggest shocks in UK political history.
Robert Woolfe, chief executive of Capital Index, said: “We had contingency plans in place that we activated, including a measured increase in margins before the referendum, and extra support and trading staff during the results.
“We kept our clients informed during this process and will continue to do so as we review our current offering with a view to reducing margin levels as the volatility begins to abate.
“We, like other participants in this market place, remember the turmoil surrounding the SNB decision last year. We were determined to ensure that we and our clients would be able to navigate the stormy waters no matter the result of the vote.”
source : www.igamingbusiness.com