Stock Indices: Contract Details
Our Stock Indices are based on the cash price of the underlying index and we charge no commission on them; all you pay is the dealing spread. Based on the underlying market, spreads may vary to those specified in the Contract Details.
Stock Indices Information Table - standard contracts
| Index | Value of one contract (per index point) (3) |
Dealing spread (1) |
Limited Risk premium (2)(7) |
Margin Requirement (per contract) |
Dealing Hours (4) (8) |
|---|---|---|---|---|---|
| Australia 200 | $25 | 2* | 3 | $5000 | 24 hours with gaps (9) |
| Wall Street | USD$10 | 4 (6) | 4 | USD$4000 | 24 hours |
| US SPX500 | USD$250 | 0.7 | 0.4 | USD$14,250 | 24 hours with gaps (14) |
| Japan 225 | USD$5 | 20 | 20 | USD$2500 | 24 hours with gaps (5) |
| FTSE 100 | £10 | 2 (5) | 3 | £2000 | 24 hours |
| FTSE 250 | £10 | see note (10) | see note (10) | £3000 | 08.15-16.30 |
| Techmark | £10 | see note (10) | see note (10) | £1200 | 08.15-16.30 |
| Germany 30 | E25 | 2 (7) | 3 | E6250 | 24 hours |
| Hong Kong HS34 | HK$50 | 20 (40) | 20 | HK$80,000 | 24 hours with gaps (5) |
| US Tech 100 | USD$100 | 2 | 2 | USD$9000 | 24 hours with gaps (14) |
| Italy 40 | E5 | 12 (40) | 10 | E7,500 | 24 hours |
| Switzerland Blue Chip | CHF10 | 7 | 4 | CHF6600 | 09.00-17.30 |
| Sweden 30 | SEK100 | 2 | 1 | SEK1300 | 08.00-16.20 |
| EU Stocks 50 | E10 | 2 | 2 | E2000 | 08.50-22.00 |
| Korea 200 | KRW5000 | 30 | 20 | KRW8,000,000 | 09.00-15.15 |
| Japan All-Share | JPY10,000 | 2 | 1 | JPY114,000 | 09.00-11.00; 12.30-15.10 |
| Singapore Blue Chip | SGD200 | 0.4 | 0.2 | SGD5000 | 08.30-17.15; 18.15-22.55 |
| India 50 | USD$10 | 4 | 6 | USD$2000 | 12.15-18.15 |
| Canada 60 | CAD200 | 1 | 1 | CAD7400 | 09.30-21.15 |
| South Africa 40 | ZAR50 | 30 | 15 | ZAR55,000 | 08.30-17.30 |
| China H-Shares | HKD50 | 20 | 20 | HKD60,000 | 09.45-12.30; 14.30-16.30 |
| Netherlands 25 | E200 | 0.6 | 1 | E7000 | 08.00-18.15 |
| France 40 | E10 | 2 (6) | 2 | E2000 | 24 hours |
| Germany Mid-Cap 50 | E5 | 8 | 5 | E3550 | 08.00-22.00 |
| Germany Tech 30 | E10 | 2 | 1 | E600 | 09.00-22.00 |
| Spain 35 | E10 | 8 (18) | 4 | E9000 | 24 hours |
| US Russ2000 | USD$500 | 0.5 | 0.3 | USD$26,500 | 01.00-23.00 (8) |
| Belgium 20 | E10 | 8 | 5 | E1970 | 09.00-17.30 |
| Norway 25 | NOK100 | 0.5 | 0.5 | NOK2500 | 09.00-16.20 |
| VIX (Volatility) | USD$1000 | 20 | 10 | USD$2250 | 23.30-06.15 |
Stock Indices Information Table - mini contracts
| Index and dealing hours |
Value of one mini contract (per index point) (3) |
Dealing spread (1) |
Limited Risk premium (2)(7) |
Margin Requirement (per contract) |
Dealing hours (4) (8) |
|---|---|---|---|---|---|
| Australia 200 | $5 | 2* | 3 | $1000 | 24 hours with gaps (9) |
| Wall Street | USD$2 | 4 (6) | 4 | USD$800 | 24 hours |
| US SPX500 | USD$50 | 0.7 | 0.4 | USD$2850 | 24 hours with gaps (14) |
| Japan 225 | USD$1 | 20 | 20 | USD$500 | 24 hours with gaps (5) |
| FTSE 100 | £2 | 3 (6) | 3 | £400 | 24 hours |
| FTSE 250 | £2 | see note (10) | see note (10) | £600 | 08.15-16.30 |
| Techmark | £2 | see note (10) | see note (10) | £240 | 08.15-16.30 |
| Germany 30 | E5 | 2 (8) | 3 | E1250 | 24 hours |
| Hong Kong HS34 | HK$10 | 20 (40) | 20 | HK$16,000 | 24 hours with gaps (5) |
| US Tech 100 | USD$20 | 2 | 2 | USD$1800 | 24 hours with gaps (14) |
| Italy 40 | E1 | 60 | 20 | E1500 | 24 hours |
| Switzerland Blue Chip | CHF2 | 7 | 4 | CHF246 | 09.00-17.30 |
| Sweden 30 | SEK20 | 2 | 1 | SEK260 | 08.00-16.20 |
| EU Stocks 50 | E2 | 2 | 2 | E500 | 08.50-22.00 |
| Korea 200 | KRW1000 | 30 | 20 | KRW1,600,000 | 09.00-15.15 |
| Taiwan All-Share | TWD40 | 20 | 10 | TWD18,000 | 08.45-13.45 |
| Japan All-Share | JPY2000 | 2 | 1 | JPY22,800 | 09.00-11.00; 12.30-15.10 |
| Singapore Blue Chip | SGD40 | 0.4 | 0.2 | SGD1000 | 08.30-17.15; 18.15-22.55 |
| India 50 | USD$2 | 4 | 6 | USD$400 | 12.15-18.15 |
| Canada 60 | CAD40 | 1 | 1.0 | CAD1480 | 09.30-21.15 |
| South Africa 40 | ZAR10 | 30 | 15 | ZAR11,000 | 08.30-17.30 |
| China H-Shares | HKD10 | 20 | 20 | HKD12,000 | 09.45-12.30; 14.30-16.30 |
| Netherlands 25 | E40 | 0.6 | 1 | E1400 | 08.00-18.15 |
| France 40 | E2 | 3 (7) | 2 | E400 | 24 hours |
| Germany Mid-Cap 50 | E1 | 8 | 5 | E710 | 08.00-22.00 |
| Germany Tech 30 | E2 | 2 | 1 | E120 | 09.00-20.00 |
| Spain 35 | E2 | 8 (18) | 4 | E1800 | 24 hours |
| US Russ2000 | USD$100 | 0.5 | 0.3 | USD$5300 | 01.00-23.00 (8) |
| Belgium 20 | E2 | 8 | 5 | E394 | 09.00-17.30 |
| Norway 25 | NOK20 | 0.5 | 0.5 | NOK500 | 09.00-16.20 |
Stock Indices Information Table - AUD Denominated Contracts
| Index and dealing hours |
Value of one mini contract (per index point) (3) |
Dealing spread (1) |
Limited Risk premium (2)(7) |
Margin Requirement (per contract) |
Dealing hours (4) (8) |
|---|---|---|---|---|---|
| Wall Street | A$1 | 4(6) | 4 | A$400 | 24 hours |
| US SPX500 | A$1 | 0.7 | 0.4 | A$57 | 24 hours with gaps (14) |
| Japan 225 | A$1 | 20 | 20 | A$500 | 24 hours with gaps (5) |
| FTSE 100 | A$1 | 2(5) | 3 | $200 | 24 hours |
| Germany 30 | A$1 | 2(7) | 3 | A$250 | 24 hours |
| Hong Kong HS34 | A$1 | 20(40) | 20 | A$1600 | 24 hours with gaps (5) |
| Hong Kong HS34 | A$1 | 20(40) | 20 | A$1600 | 24 hours with gaps (5) |
| India 50 | A$1 | 4 | 6 | A$200 | 12.15-18.15 |
| China H-Shares | A$1 | 20 | 20 | A$1200 | 09.45-12.30; 14.30-16.30 |
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.
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We quote an 'all-in' spread that includes both dealing spread and market spread. The size of our dealing spreads are shown in the information tables. All dealing spreads are subject to variation, especially in volatile market conditions. We will not charge any additional commission unless we notify you in writing. Wider spreads apply when we quote outside normal market hours; these are shown in brackets.
*Note: for the Australia 200, we cannot provide you with a guaranteed out of hours spread. We do not seek to profit from increased all-in spreads during out of market hours and we will not increase our dealing spread during this time. We will however pass on any increase in market spread experienced during out of market hours (up to a maximum of 50 points).
In-hours spreads apply during the following times:
Australia 200: 09.50-16.30 (Sydney time).
FTSE 100: 08.00-21.00 (London time).
Wall Street: from the time after the opening of the NYSE when all the Dow stocks have traded (normally by 09.45) until 16.00 (New York time).
Italy 40: 09.00-17.40 (Milan time)
- For Limited Risk transactions, a Limited Risk premium is charged on the opening.
- The minimum transaction size is one contract.
- 24-hour dealing starts at 23.00 (London time) on Sunday and finishes at 21.15 (London time) on the following Friday. Please contact us for specific information about public holidays.
- We do not quote the Japan 225 during the SGX lunch break (10.15-11.15 Singapore time), or between 21.15 (London time) and the opening of SGX. We do not quote the Hong Kong HS34 during the HKFE lunch break (12.30-14.30 Hong Kong time).
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Limited Risk positions are closed if the bid or offer price (depending on your position) reaches the selected stop level. There may be nothing against which to measure our quotation, particularly at times when the underlying market is closed.
Our quotations, especially at such times, reflect our own view of the prospects for a market. Furthermore, business done by other clients may itself affect our quotations. If a price reaches one client's Limited Risk stop level, so that, for example, he sells to close a position, that sale may itself push our quotation down to a level at which another client's Limited Risk position has to be closed.
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CFDs on stock indices are Undated Transactions that do not expire (unless requested, please see note 13). 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 16:30 (Sydney Time) and that is still open after 16:30 (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 rateThe 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 credited to a client's account at rates which are agreed with each client.
ii) A dividend adjustment is applied when a component share passes its ex-dividend date (including the ex-date of any special dividend) 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. - 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; and for the India 50 we show Singapore time.
- We do not quote the Australia 200 between 07.00 and 09.50 and between 16.30 and 17.10 (Sydney time).
- 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.
- 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.
- 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 (see below)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 follows.
- We do not quote the US SPX500 and the US Tech 100 between 15:15 and 15:30 (Chicago time) and between 16:30 and 17:00 (Chicago time)
Expiry Transactions: related expiry markets
Stock index Related expiry market FTSE 100 FTSE 100 Wall Street DJIA 30 US SPX500 S&P 500 Japan 225 Nikkei 225 Germany 30 DAX 30 Hong Kong HS34 Hang Seng US Tech 100 Nasdaq 100 Australia 200 S&P/ASX 200 FTSE 250 FTSE 250 Techmark FTSE techMARK 100 Italy 40 S&P/MIB Switzerland Blue Chip SMI Sweden 30 OMXS30 EU Stocks 50 Dow Jones Euro STOXX 50 Korea 200 KOSPI 200 Taiwan All-Share TAIEX Japan All-Share TOPIX Singapore Blue Chip Singapore Free Index India 50 Nifty Fifty Canada 60 S&P/TSX 60 South Africa 40 FTSE/JSE Top 40 China H-Shares Hang Seng China Enterprises Netherlands 25 AEX France 40 CAC 40 Germany Mid-Cap 50 MDAX Germany Tech 30 TecDAX Spain 35 IBEX 35 US Russ2000 Russell 2000 Belgium 20 BEL 20 Norway 25 OBX