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Nov. 7-10 - Changes in Trading on #FAS

05 Feb 201316:43

Dear Clients,

On November 9, 2011, Direxion is planning a 1-for-5 reverse split of shares of its Direxion Daily Financial Bull 3x Shares (FAS) ETF following market close. On November 10, 2011, trading on #FAS will open at a price five times the market price the previous day.

This is how this change will be handled by Alpari:

  1. Starting November 7, 2011, trading of #FAS will be "Close Only".
  2. Following market close on November 9, 2011, all open positions on #FAS will be closed at the current market price and all pending orders will be deleted.
  3. On November 10, 2011, trading on #FAS will open again, reflecting the change in the value of the underlying contract.

If you have any questions, please feel free to call us at +44 8449 869559.

Best Regards,

Tried and tested
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