JP Morgan terminates its brokerage service for TL algo transactions


international investment bank JP Morgan, due to recent volatility Turkish lira has decided to terminate its service for its algo transactions.

After the Swedish-based UBS bank stopped publishing a report on the Turkish lira, another decision came from the US banking giant JP Morgan.

According to BloombergHT, In the note sent from the bank to its customers, it was stated that new TL-based algorithmic transactions would not be accepted, and a call was made to terminate existing TL algo transactions in a short time.

It was also stated that profit purchases for current positions will continue within the normal trading processes.


Source: Cumhuriyet Gazetesi – Güncel by www.cumhuriyet.com.tr.

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