Spoke with Brian Griffin Chief Dealer at CMCGroup this morning about what will happen with open CFD positions with SGW. He said he knows as much as the rest of us (the market) about what is currently happening with voluntary administration etc. They will be promulgating an email on the issue in the next few days. One important consequence that will take effect in the next few days is that all open SGW CFD's (long or short) will have to be funded to 100% margin. So if you have for example a $50,000 open possy (long or short) then you need to top up to $50,000 to keep the position going (this bit is my opinion only and was not stated by Griffin to me). If you are long, I apologize if this info has caused further pain, but hopefully it's of assistance. Any questions I recommend you give him (Griffin) a call, he is quite willing to chat. Trading desk no. 1300 789 181
SGW Price at posting:
0.0¢ Sentiment: ST Sell Disclosure: Held
