OANDA TO HALT ALL CURRENCY TRADES TILL SUNDAY JUNE 17th????

http://www.zerohedge.com/news/due-extreme-volatility-some-market-analysts-foresee



From Oanda

Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EST until approximately 3:00 PM EST, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations.



Please note that during this halt in trading, you can still access your account details but no trading activity will be accepted. For this reason, OANDA strongly recommends that all traders consider minimizing currency exposures prior to the trading halt.



If you do intend to maintain open positions during this period, be aware that OANDA will hold exchange rates steady during the trading halt. However, when trading resumes, rates will immediately adjust to the current market rate and it is possible that the updated rate could result in a margin closeout if the price has moved significantly against your positions.



Therefore, it is your responsibility to ensure you have adequate funds in your account to prevent a margin closeout.



OANDA apologizes for any inconvenience this may cause.



For more information, please contact a Customer Service representative.



Best regards,



The OANDA team

Went to Oanda's website and found nothing to say about this..sent them an inquiry to confirm...


http://www.oanda.com/

I'm sure it has to do with Greece elections Sunday and will the Euro take a crash?? It is more a warning to their customers, this is the important part:

be aware that OANDA will hold exchange rates steady during the trading
halt. However, when trading resumes, rates will immediately adjust to
the current market rate and it is possible that the updated rate could
result in a margin closeout if the price has moved significantly against
your positions.

MORE from another FX trader:


Dear Valued Client,




This coming Sunday, June 17, 2012, will be the Greek legislative elections. This is important regarding the future of Greece as part of the Eurozone. While FXDD does not give specific trading advice, we believe these elections may result in periods of extreme volatility.
We urge you to take every step possible to protect yourself from
potential price spikes or market gaps, including but not limited to:






•Adding funds to your account to avoid liquidation.

•Curtailing
unnecessary exposure, by closing some or all existing positions prior
to the market close at 4 pm EST on Friday June 15th.

•Placing stop orders. Please be aware that stop orders may slip if the market gaps or if there is extreme volatility.




The events unfolding in the Eurozone in the following weeks
will be pivotal for the future of the common currency and the nations
involved. Stay current with news announcements so you are aware of
potentially volatile market conditions.




Forexlive.com
is a great news source trusted by individual traders, hedge funds, and
central bankers. Please refer to this, or an alternative source of
information.




If you ever have difficulties in executing a trade we would advise you, as always, to contact us immediately.




If you have any questions, our customer service will be happy to talk to you.











Sincerely,
FXDD



7 World Trade Center, 32nd Floor, New York, NY 10007
Phone: 212.791.3933 Fax: 212.937.3845
fxdd.com
Customer Support Hours:
Sunday 5 PM to Friday 4 PM EST

Currency trading platform provides an account of election
Friday 15 June 2012, at Freeman 0:05

The trading platform, OANDA has informed its customers, on Sunday the 17th June will set the online currency trading temporarily. The reason, because of the election in Greece, there may be very large price swings in currencies. Depending on the outcome of the initial projections on Sunday, could the price of the euro against other currencies, either fall or rise sharply. Therefore, the currency trading 6:00 to 15:00 Eastern Standard Time clock is suspended.

The Canadian firm OANDA is the only one which offers 24 hours 7 days a week, a deal in foreign exchange on the Internet, including on weekends. Go out because of the uncertainty in the direction the elections in Greece, the company management has decided their service during the time when stopping the initial results are publicized. After all, the price fluctuations should be too large, customers could lose their entire margin calls by credit.

Therefore, the company warns its customers and is recommended to check their positions in time and to reduce to limit the risk of loss. The volatility in exchange rates may persist for several days after the elections, even as the government formation may take up to 3 days.

Merkel shifted their departure to the G20 Summit in Los Cabos, Mexico on later to immediately react to the results from Athens can. EU Monetary Affairs Commissioner Olli Rehn has canceled his participation in the short term even at the G20 summit in Mexico. It is even claimed that if the opponents of the austerity and reform program in the future have the say in Athens, then it runs the risk of bankruptcy and the world economy, a renewed shock. The pure scaremongering.

Although two weeks before an election poll results can be Greece no longer published, as not to influence the voters, surveys are still conducted. Some of it is penetrated to the outside and thus provide the Syriza and the New Democracy, a head to head race. So it could be very short.

The leadership of the conservative New Democracy under Antonis Samaras argues vehemently for the whereabouts of the country in the euro zone. Samaras has promised the country's creditors to adhere to the austerity program for Greece. The alliance of the Radical Left (Syriza) under Chief Alexis Tsipras promises an end to the unpopular austerity measures, with a possible withdrawal from the euro.

Judged according to how the markets, the election result, the price can go the euro in one direction or another. Either way, however, is from the Greek government shortly after the election the money. Whoever comes to power must be quickly think of something, so the state can maintain its services.

With fear-mongering claims that a victory of "radicals" threatening the country bankrupt, this is the land anyway in fact already been in this state. In my opinion, the Greeks must decide on Sunday whether they want an end with horror or a horror without end.

Better get out of the prison of the euro, shake off all debts and for two years, a painful losing streak going through, to independently make a fresh start, instead of forever being a debt and interest slave of the troika, only a protectorate after Berlin's grace, without sovereignty, participation and rights.

The coming week will be very exciting and could determine the fate not only of Greece but of all Europe.