Stock Indices Contract Details | Index Trading

Notes to tables

Our Stock Indices are a special form of CFD that give a client exposure to changes in the value of a stock index but cannot result in the delivery of any share or instrument by or to the client.

1. Spreads are subject to variation, especially in volatile market conditions. We will not charge any additional commission unless we notify you in writing. Spreads depend on whether the respective underlying market is 'in' or 'out' of hours. If applicable, our 'extended hours' and 'out of hours' spreads are shown in brackets following the standard 'in hours' spread (with 'extended hours' shown first).
   
   Any market spread may be added to the spread shown in the Contract Details, except for contracts on FTSE 100, Wall Street, US SPX 500, US Tech 100, Germany 30, France 40, Italy 40, Spain 35, Sweden 30, Hong Kong HS42, Japan 225, EU Stocks 50, US Russ 2000, Japan All-Share, China H-Shares and Korea 200.
   
   Please note that Japan 225 is priced as a USD-denominated contract.
   1. FTSE 100: 'in hours' means from 08.00-16.30, 'extended hours' means 01.00-07.50 and 16.30-21.00. All other times are treated as 'out of hours'. However, between 01.00 and 07.00 we may offer 'out of hours' spreads during periods of extreme illiquidity in the underlying markets.
   2. Germany 30: 'in hours' means from 08.00-16.30, 'extended hours' means 07.00-08.00 and 16.30-21.00. All other times are treated as 'out of hours'.
   3. Singapore Blue Chip: 'in hours' means from 01.30-10.10 and 11.15-18.54. All other times are treated as 'out of hours'.
   4. For the Australia 200, we cannot provide you with a guaranteed spread during the night session (17.10-07.00 Sydney time). We do not seek to profit from increased all-in spreads during these times and we will not increase our dealing spread during this time. We will however pass on any increase in market spread experienced during the night session (up to a maximum of 50 points).
2. For Limited Risk transactions, a Limited Risk premium is charged on the opening.
3. The minimum transaction size is one contract.
4. Local times listed. 24-hour dealing starts at 08.00 AEST on Monday and finishes at 06.15 AEST on the following Saturday. Please note that on Australia 200, 24-hour dealing starts at 08.00 AEST on Monday and finishes at 06.15 AEST on the following Saturday. Please ask dealers for information about public holidays.
5. CFDs on stock indices are Undated Transactions that do not expire (unless requested, please see note 12). For each day that a position is held adjustments are calculated to reflect the effect of interest and dividends. For stock index contracts denominated in Australian Dollars a daily interest adjustment is calculated for any position that is opened before 16:50 (Sydney Time) and that is still open after 16:50 (Sydney Time). For all other denominated positions the adjustment will be calculated at 22:00 (London Time). These adjustments are posted daily to the client's account.
   
   i) Interest adjustments are calculated as follows:
   
   D = n x L x C x i / 360
   
   Where:
   D = daily interest adjustment
   n = number of lots
   L = lot size
   C = underlying index price at time of calculation
   i = applicable annual interest rate
   
   The applicable interest rate will be +/-2.5% above/below the indicator cash rate for that index unless otherwise agreed in writing. For stock index contracts denominated in Australian Dollars the applicable Australian cash rate will be used.
   
   Note: The formula uses a 365-day divisor for UK indices and a 360-day divisor for non-UK indices.
   
   Interest in respect of long positions is debited from a client's account and interest in respect of short positions is generally credited to a client's account.
   
   ii) A dividend adjustment is applied when a component share passes its ex-dividend date in the underlying stock market. In the case of long positions, the dividend adjustment is credited to the client's account. In the case of short positions, the dividend adjustment is debited from the client's account.
6. Trading times are local times. The following are special cases: For the Sweden 30 and US Russ2000 times shown are London time; for EU Stocks 50 we show Frankfurt time; for India 50, China A50 & Taiwan Indices we show Singapore time.
7. The dealing spread for FTSE 250 and Techmark is 0.45% of the underlying index level for both standard and mini contracts. The Limited Risk premium is 0.3% of the underlying index level.
8. When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our PureDeal platform.
9. On certain markets, different initial margin rates apply depending on the type of account you hold. Where there are two margin requirements listed, the lower figure applies to the Trader Account and the higher figure to the Select Account. Note that Tiered Margining applies; this means that higher margins may be required for large positions. Please see our Tiered Margining page for details.
10. IG normally quotes in-hours spreads during official trading hours of the underlying instrument. Out of hours spreads apply outside of these times and during relevant market holidays.
11. Wall Street, US SPX 500, US Tech 100 and US Russ 2000 Forwards can be traded until 14:30 (UK Time) on the day of expiry. This means Stop or Limit Orders can be filled until this time.
12. Clients may request that an open stock index position will expire on the day that the request is made. We are unlikely to agree to such a request if either:
    a) the size of the position or positions is larger than 10 contracts
    b) the request is made less than two hours before the close of the related expiry market
    
    On our agreement to an expiry request, the transaction or transactions in question will become an 'Expiry Transaction', and will automatically expire at the official closing price of the related expiry market, as listed on the 'Related Markets' tab, above.