Margin requirements up amid Brexit tension

Singapore

MARKET players around the world battened down the hatches on Thursday ahead of Britain's referendum on European Union membership, raising margin requirements in anticipation of heightened volatility when the results arrive.

The Singapore Exchange (SGX) said it applied a "standard measure" of addressing event risk by raising requirements for potentially vulnerable derivatives, and that it would continue to monitor developments and may make further adjustments if needed.

"SGX has been assessing the potential impact of the UK's referendum on the country's EU membership," SGX chief risk officer Agnes Koh said in a statement. "Given the potential for increased market volatility, we have taken the precautionary step to introduce higher margins for contracts, including those with mater…