Saxo Bank Securities Co., Ltd., the Japanese subsidiary of multi-asset investment specialist Saxo Bank, today announced changes to trading conditions for currency pairs with the Turkish Lira (TRY).

Currently, due to political turmoil in Turkey, the Turkish Lira is experiencing its biggest fall since 2021. In order to reduce the risk of customers unintentionally trading at extremely volatile prices, Saxo has decided to change the trading hours for Turkish Lira-related currency pairs and to restrict options trading for the same currency pairs.

The new trading hours will be 16:00 to 1:00 the following day. (After the transition to European Summer Time on March 30, 15:00 to 24:00)

All new transactions in options on Turkish Lira-related currency pairs have been suspended. Only existing positions can be settled, but new orders cannot be executed.

Depending on the market conditions, Saxo will make decisions such as changing trading hours again, considering further restrictions or lifting them.