We offer all the headline-grabbing energy markets, including monthly US and Brent Crude Oil, plus Natural Gas, No Lead Gasoline, Heating Oil and Carbon Emissions.
Note: We offer mini versions of all Standard Forward Energy contracts at 50% of the main contract size and margin requirement (25% for Natural Gas).
Energies Information Table (Standard contracts)
| Market name & dealing hours (local time) |
Value of one contract (per index point) |
Normal spread |
Limited Risk premium |
Margin Requirement (per contract) (5) |
|---|---|---|---|---|
| Light Crude Oil (US) 24 hours except 17.15-18.00 |
$10 | 6 | 4 | $4000/$1500 |
| Brent Crude Oil (UK) 01.00-23.00 |
$10 | 6 | 4 | $4000 |
| Heating Oil (US) 24 hours except 17.15-18.00 |
$4.20 | 30 | 20 | $6749 |
| No Lead Gasoline (US) 24 hours except 17.15-18.00 |
$4.20 | 30 | 20 | $6720 |
| Natural Gas (US) 24 hours except 17.15-18.00 |
$10 | 30 | 20 | $6750 |
| Gas Oil (UK) 01.00-23.00 |
$100 | 1 | 0.6 | $3200 |
| Carbon Emissions (UK) 07.00-17.00 |
E10 | 20 | 30 | E2200 |
Energies Information Table (AUD denominated contracts)
| Market name & dealing hours (local time) |
Value of one contract (per index point) |
Normal spread | Limited Risk premium |
Margin Requirement (per contract) (5) |
|---|---|---|---|---|
| Light Crude Oil (US) 24 hours except 17.15-18.00 |
A$1 | 6 | 4 | A$400 |
| Natural Gas (US) 24 hours except 17.15-1800 |
A$1 | 30 | 20 | A$675 |
Trade CFDs on the world's most popular precious and base metals.
Metals Information Table
We offer two different types of metals contract: Spot and Forwards. The two types work in slightly different ways.
Spot Metals Information Table (Standard contracts)
Spot metals have no expiry date; the position remains open until you choose to close it. Separate daily funding adjustments are made for Spot Metals.
Note: We offer mini versions of all Standard Spot Metals contracts at 10% of the main contract size.
| Contract | One contract means | Value of one contract (per full point) | Normal spread | Ltd risk premium | Margin requirement (per contract) |
|---|---|---|---|---|---|
| Gold | 100 troy oz | USD100 | 0.5 | 0.3 | 3% |
| Silver | 5000 troy oz | USD50 | 3 | 2 | 5% |
Spot Metals Information Table (AUD denominated contracts)
| Contract | Value of one contract (per full point) | Normal spread | Ltd risk premium | Margin requirement (per contract) |
|---|---|---|---|---|
| Gold | A$1 | 0.5 | 0.3 | 3% |
| Silver | A$1 | 3 | 2 | 5% |
Forward Metals Information Table (Standard contracts)
Our forward contracts expire at specified forward dates. There are no separate funding adjustments: a fair value is priced into our quotation.
Note: We offer mini versions of all Metals Forward contracts at 20% of the main contract size and margin requirement (33% for Gold).
| Contract and dealing hours (local times) | One contract means | Value of one contract (per full point) | Normal spread | Ltd risk premium | Margin requirement (per contract) |
|---|---|---|---|---|---|
| Gold 24 hours except 17.15-18.00 |
100 troy oz | $100 | 0.6 | 0.3 | $3000 |
| Silver 24 hours except 17.15-18.00 |
5000 troy oz | $50 | 4 | 2 | $6100 |
| Copper (High Grade) 24 hours except 17.15-18.00 |
25,000 lbs | $2.50 | 80 | 30 | $6075 |
| Palladium 24 hours except 17.15-18.00 |
100 troy oz | $100 | 2 | 2 | $2400 |
| Platinum 24 hours except 17.15-18.00 |
50 troy oz | $50 | 2 | 1.5 | $6050 |
| Aluminium 08.30-17.00 |
25 metric tons | $25 | 16 | n/a | $4250 |
| Copper 08.30-17.00 |
25 metric tons | $25 | 20 | n/a | $13,750 |
| Lead 08.30-16.50 |
25 metric tons | $25 | 8 | n/a | $6250 |
| Nickel 08.30-16.45 |
6 metric tons | $6 | 60 | n/a | $13,200 |
| Tin 08.30-16.45 |
5 metric tons | $5 | 40 | n/a | $10,000 |
| Zinc 08.30-16.50 |
25 metric tons | $25 | 10 | n/a | $4750 |
We offer a wide range of soft commodities such as Cocoa, Coffee, Wheat, Cattle and Pork Bellies.
We offer mini versions of our Commodity Forward contracts at 20% or 50% of the main contract size and margin. Please see the Notes page for more information – Note 7 refers to mini contract sizes.
Softs Information Table
| Contract and dealing hours (local time) |
Value of one contract (per full point) |
Normal spread | Limited Risk premium |
Margin Requirement (per contract) |
|---|---|---|---|---|
| London Cocoa London 09.30-16.50 |
£10 | 4 | 4 | £840 |
| US Cocoa New York 01.30-15.15 |
US$10 | 8 | 5 | US$2520 |
| Coffee Robusta London 08.00-17.30 |
$10 | 4 | 6 | US$1700 |
| Coffee Arabica New York 01.30-15.15 |
US$3.75 | 40 | 20 | US$3638 |
| Orange Juice New York 07.00-15.15 |
US$1.5 | 40 | 20 | US$1680 |
| Sugar No.11 World New York 01.30-15.15 |
US$11.20 | 5 | 4 | US$2520 |
| Sugar No. 5 London 09.45-17.30 |
$50 | 0.8 | 0.8 | US$1450 |
| US Cotton New York 01.30-15.15 |
US$5 | 25 | 15 | US$650 |
| Lumber Chicago 09.00-13.05 |
US$1.10 | 100 | 80 | US$1650 |
Agricultural and Others - standard contracts
| Contract and dealing hours (local time) |
Value of one contract (per full point) |
Normal spread | Limited Risk premium |
Margin Requirement (per contract) |
|---|---|---|---|---|
| Corn Chicago 09.30-13.15; 18.30-07.15 | US$50 | 2 | 1.5 | US$1500 |
| Oats Chicago 09.30-13.15; 18.30-07.15 |
US$50 | 2 | 1.5 | US$750 |
| Soyabeans Chicago 09.30-13.15; 18.30-07.15 |
US$50 | 3 | 2 | US$3700 |
| Soyabean Meal Chicago 09.30-13.15; 18.30-07.15 |
US$1 | 80 | 50 | US$2025 |
| Soyabean Oil Chicago 09.30-13.15; 18.00-07.15 |
US$6 | 12 | 8 | US$1350 |
| London Wheat London 09.30-17.30 |
£100 | 0.5 | 0.8 | £700 |
| Chicago Wheat Chicago 09.30-13.15; 18.00-07.15 |
US$50 | 2 | 1.5 | US$2350 |
| Rough Rice Chicago 09.30-13.15; 18.03-07.15 |
US$2 | 40 | 30 | US$1350 |
| Live Cattle Chicago 17.00-16.00 |
US$4 | 40 | 30 | US$1080 |
| Feeder Cattle Chicago 09.05-13.00 |
US$5 | 40 | 30 | US$1690 |
| Lean Hogs Chicago 17.00-16.00 |
$4 | 40 | 30 | $1216 |
| Pork Bellies Chicago 09.10-13.55 |
$4 | 40 | 30 | $1620 |
| Milling Wheat Paris 10.45-18.30 |
E50 | 1 | 1 | E650 |
| Rapeseed Paris 10.45-18.30 |
E50 | 1 | 2 | E1550 |
Find the expiry details for our commodities markets, including the settlement details for spot trades and the contract months and last dealing days for futures.
Expiry Details Information Table
| Market name | Contract months(5) | Last dealing day (1)(6) |
|---|---|---|
| Brent Crude | Current and next month | 1st or 2nd bus. day preceeding 15th day prior to 1st day of delivery month |
| US Light Crude | Any month | Third business day prior to 25th calendar day of previous month (if 25th calendar day of previous month is a non-bus. day, third bus. day prior to last bus. day preceding 25th calendar day of prev. month) (e) |
| Heating Oil | Any month | Last bus. day of prev. month (e) |
| Carbon Emissions | Mar, Jun, Sep, Dec | Trading day preceding 3rd Fri. of contract month (g) |
| London Gas Oil | Any month up to nine months forward | Third bus. day prior to 14th day of delivery (g) |
| Natural Gas | Any month | 4 NY business days prior to the first calendar day of the delivery month |
| No Lead Gasoline | Any month | Last bus. day of prev. month |
| Gold | Feb, Apr, Jun, Aug, Oct, Dec | 4th business day prior to 1st day of contract month |
| Silver | Mar, May, Jul, Sep, Dec | Third Fri. or prev. bus day of prev. month |
| High Grade Copper | Jan, Mar, May, Jul, Sep, Dec | Third Fri. or prev. bus day of prev. month |
| Palladium | Mar, Jun, Sep, Dec | Third Fri. or prev. bus day of prev. month |
| Platinum | Jan, Apr, Jul, Oct | Third Fri. or prev. bus day of prev. month |
| Aluminum | 2 business days prior to contract date (2nd morning ring on LME) | |
| Copper | 2 business days prior to contract date (2nd morning ring on LME) | |
| Lead | 2 business days prior to contract date (2nd morning ring on LME) | |
| Nickel | 2 business days prior to contract date (2nd morning ring on LME) | |
| Tin | 2 business days prior to contract date (2nd morning ring on LME) | |
| Zinc | 2 business days prior to contract date (2nd morning ring on LME) | |
| London Cocoa | Mar, May, Jul, Sep, Dec | Last bus. day of prev. month (b) |
| Cocoa (New York) | Mar, May, Jul, Sep, Dec | Second Fri. or prev. bus. day of prev. month (d) |
| Coffee Robusta | Jan, Mar, May, Jul, Sep, Nov | Second Fri. or prev. bus. day of prev. month (d) |
| Coffee Arabica (New York) | Mar, May, Jul, Sep, Dec | Second Fri. or prev. bus. day of prev. month (d) |
| Orange Juice | Jan, Mar, May, Jul, Sep, Nov | Last bus. day of prev. month (b) |
| Feeder Cattle | Jan, Mar, Apr, May, Aug, Sep, Oct, Nov | Third Fri. or prev. bus. day of prev. month (h) |
| Live Cattle | Feb, Apr, Jun, Aug, Oct, Dec | Third Fri. or prev. bus. day of prev. month (h) |
| Lean Hogs | Feb, Apr, Jun, Jul, Aug, Oct, Dec | Third Fri. or prev. bus. day of prev. month (h) |
| Pork Bellies | Feb, Mar, May, Jul, Aug | Third Fri. or prev. bus. day of prev. month (h) |
| Cotton | Mar, May, Jul, Oct, Dec | Second Fri. or prev. bus. day of prev. month (d) |
| Rapeseed | May, Aug, Nov | Last bus. day of prev. month (k) |
| Lumber | Jan, Mar, May, Jul, Sep, Nov | Third Fri. or prev. bus. day of prev. month (h) |
| London Sugar No.5 | Mar, May, Aug, Oct, Dec | First Fri. or prev. bus. day of prev. month (b) |
| Sugar No. 11 World (New York) | Mar, May, Jul, Oct | Last bus. day of prev. month (h) |
| London Wheat | Jan, Mar, May, Jul, Sep, Nov | First Fri. or prev. bus. day of prev. month (b) |
| Paris Milling Wheat | Jan, Mar, May, Sep, Nov | Last bus. day of prev. month (k) |
| Wheat (US) | Mar, May, Jul, Sep, Dec | Third Fri. or prev. bus. day of prev. month (f) |
| Corn | Mar, May, Jul, Sep, Dec | Third Fri. or prev. bus. day of prev. month (f) |
| Oats | Mar, May, Jul, Sep, Dec | Third Fri. or prev. bus. day of prev. month (f) |
| Rough Rice | Jan, Mar, May, Jul, Sep, Nov | Third Fri. or prev. bus. day of prev. month (f) |
| Soyabeans | Jan, Mar, May, Jul, Aug, Sep, Nov | Third Fri. or prev. bus. day of prev. month (f) |
| Soyabean Meal | Jan, Mar, May, Jul, Aug, Sep, Oct, Dec | Third Fri. or prev. bus. day of prev. month (f) |
| Soyabean Oil | Jan, Mar, May, Jul, Aug, Sep, Oct, Dec | Third Fri. or prev. bus. day of prev. month (f) |
Expiry Notes
a) The last dealing day shown in the tables may not always coincide with the last dealing day on the relevant exchange.
b) Positions not already closed by the client expire automatically with spread on the following basis:
- Coffee Arabica, US Cocoa, US Sugar No.11, US Cotton and Orange Juice basis the closing price of the relevant futures contract on NYBOT on our last dealing day
- Chicago Wheat, Corn, Oats, Rough Rice and Soyabeans basis the closing price of the relevant futures contract on CBOT on our last dealing day
- Live Cattle, Feeder Cattle, Lean Hogs, Pork Bellies and Lumber basis the closing price of the relevant futures contract on CME on our last dealing day
- Milling Wheat and Rapeseed basis the closing price of the relevant futures contract on Euronext on our last dealing day.
c) We quote Spot Metals 24 hours a day, normally from 23.00 (London time) on Sunday until 22.00 (London time) on Friday.
d) For most positions, a client can, at any time before the position has been automatically closed, ask for the position to be rolled over to a later date. Rolling over a position involves closing the old position and opening a new one. We normally attempt to contact a client shortly before a position is due to expire and offer him the opportunity to roll the position over. However, we cannot undertake to do this in every case and it remains the client's responsibility to give instructions, if he so wishes, to roll the position over before it expires.
e) Where the Gold (Forwards) settlement date would fall (as predicted by the rule in the table) on a Friday or on the day before a US holiday, the contract will instead settle on the previous day.
All the instruments described on this site are Contracts For Difference (CFDs). Our commodities give you exposure to changes in the prive of the underlying market. They are cash settled and cannot result in the delivery of any commodity or instrument. Where you see a number or letter in brackets on the tables, the corresponding note can be found below.
1) Our Energy contracts give a client exposure to changes in the value of a futures contract but cannot result in the delivery of any commodity or instrument by or to the client.
2) We will 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.
3) For Limited Risk transactions, a Limited Risk premium is charged on the opening.
4) Times quoted are local to the relevant exchange, unless specified.
5) Note that tiered margining applies. This meams that higher margins may be required for large positions. Please see our Tiered Deposits page for details.
6) For Spot Metal transactions, funding adjustments are calculated and posted to the client's account daily. Funding adjustments are calculated as follows:
A = V x R / 360
Where:
A = the amount of the daily interest credit or debit
V = the value of the position at the time of calculation. This is equal to:
Number of contracts x Contract size x Spot Metal price.
R = applicable annual interest rate.
For Spot Metal contracts a daily interest adjustment is calculated for any position that is opened before 22:00 (London Time) and that is still open after 22:00(LondonTime).
The applicable interest rate will be +/-0.3% above/below the Libor cash rate for Standard Contracts (0.8% for Mini Contracts) unless otherwise agreed in writing. For Spot Metal contracts denominated in Australian Dollars the applicable Australian cash rate will be used with a spread of +/-0.8%.
7) Only liquid months will be available at any one time.