Dear Friends,

We have been given warning by our Prime Broker, to expect higher than normal volatilty tomorrow due to the ECB meetings.

We were quoted with “be prepared for EXTREME VOLATILITY”. The obstacles for tomorrow’s meeting are rather large, and evidence of incoming action has undoubtedly cropped up, with reasons for a massive stimulus program coming from many different angles.

In light of the recent Swiss National Bank decision, coupled with the fact that markets still remaining highly unstable as a result, the chances of increased and abnormal volatily are very high.

Although our tech structure is one of the absolute best in the industry, we are still direct market access to our LPs, and the impact from this meeting could potentially include gapping, huge spread widening, slips, and disconnects.

Please ensure your account’s exposure is kept to a minimum and is well capitalized to avoid potential liquidation. In our collective opinion, it is a good day to be “flat” in the markets until the dust settles.

Please adjust any open positions you may have accordingly, and be safe!

Best Regards,