Hi XXX,

Thank you for reaching our with your inquiry.

Firstly, we wanted to highlight why we set certain equities to close only before earnings announcements. We understand long-term clients like yourself already understand why we do this, but we wanted to include an explanation for clarity.

The reason we set equities to close only before earnings announcements is due to the heightened volatility surrounding these news events. This is done to protect both our clients and Fusion from negative account balances.

The decision to set a stock to close only is made by senior management and is done at their discretion. The timing of this action is based on a number of factors including but not limited to the volatility of the underlying stock, and the timing of earnings announcement - Pre/Post market opening. 

    

Generally, stocks are set to close only a few days before their earnings announcements.