Barclays halts taking stop-loss orders during UK referendum
The bank takes unprecedented step as it navigates disruptive market conditions
In a highly unusual move, Barclays has notified clients it will not accept stop-loss orders for foreign exchange trades between 7am London time today (June 23) and 10pm on June 24.
Barclays told clients there is a high chance of price dislocations and illiquid market conditions during the UK's referendum on its EU membership. While the bank promised to endeavour to operate its electronic-trading and voice spot desks at close to normal levels, it warned of possible disruption, and it has decided
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