CFD Market Information Sheets
CFD Market Information Sheets Effective from: 6th October 2008
Selftrade CFDs and Spread Betting
Contents
Section Number
Introduction
1
Indices
2
Shares
3
Sectors
4
Currencies
5
Metals
6
Commodities
7
Bonds
8
Interest rates
9
Financing
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
10
Selftrade CFDs and Spread Betting
1. Introduction These Market Information Sheets describe the various contracts for difference (CFDs) that we offer. They form part of our contractual terms and policies and should be read in conjunction with our General Terms, Margining Terms and CFD Terms, which take precedence in the event of a conflict with these sheets. Further information about individual CFDs (for instance minimum/maximum trade sizes, Margin Factors, rates for Guaranteed Stop Loss Orders and the basis of settlement for expiring markets) is available through our Interactive Trading Platform (“ITP”) or by contacting our Support Services.
Trading hours We are open for trading from Sunday evening 20:00 GMT during winter months / 22:00 BST during summer months, through to 21:15 Friday evening London time. Trades or Orders can only be placed at times which are during both our trading hours and the relevant CFD market hours: • if market hours are described as “24 hours”, this means you are able to place Trades and Orders (other than Guaranteed Orders) at any time when we are open for trading, and there is a price quoted in the underlying market on an exchange that we choose to use as the basis of our price. • if markets are described as “exchange hours”, this means you are able to place Trades only at times when both the exchange from which our CFD is priced is open and we are open for trading. However, you may still place Orders for such a CFD (other than Guaranteed Orders) outside those exchange hours if we are open for trading. If we plan to close for a period, for instance on Christmas Day, we will advise you of the modified trading hours on the ITP no less than two business days in advance of that day. There are times when a suspension or closure of an exchange or over-the-counter market may occur. We may not be able to quote or to execute the relevant CFD Trades and Orders during these times.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
1
Selftrade CFDs and Spread Betting
Currency abbreviations Standard international abbreviations are used for currencies: Abbreviation
Symbol
Currency
AUD
$
Australian dollar
CAD
$
Canadian dollar
CHF
CHF
Swiss franc
DKK
kr
Danish kroner
EUR
€
Euro
GBP
£
British pound
HKD
HK$
Hong Kong dollar
IDR
Rp
Indonesian Rupiah
JPY
¥
Japanese yen
KRW
₩
Korean wong
MXN
$
Mexican peso
NOK
kr
Norwegian krone
NZD
$
New Zealand dollar
PLN
zł
Polish zloty
SEK
kr
Swedish kronor
SGD
$
Singapore dollar
USD
$
US dollar
ZAR
R
South African rand
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
2. Indices CFD markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
EU Stocks 50
Exchange hours
EUR €
1
5%
4
France 40
Exchange hours
EUR €
1
5%
5
Germany 30
24 hours
EUR €
1
5%
5
Hong Kong 40
Exchange hours
HKD $
1
5%
20
Italy 40
Exchange hours
EUR €
1
5%
30
Japan 225
Exchange hours
JPY ¥
1
5%
20
Netherlands 25
Exchange hours
EUR €
0.01
5%
0.4
Spain 35
Exchange hours
EUR €
1
5%
12
Sweden 30
Exchange hours
SEK Kr
0.25
5%
2
Switzerland 30
Exchange hours
CHF
1
5%
8
UK 100
24 hours
GBP £
1
5%
4
US SP 500
24 hours
USD $
1
5%
0.8
US Tech 100
24 hours
USD $
1
5%
3
Wall Street
24 hours
USD $
1
5%
6
CFD expiring markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Australia 200
24 hours
AUD $
1
5%
3
EU Stocks 50
Exchange hours
EUR €
1
5%
5
France 40
Exchange hours
EUR €
1
5%
6
Germany 30
24 hours
EUR €
1
5%
6
Hong Kong 40
Exchange hours
HKD $
1
5%
20 over market spread
India 50
Exchange hours
USD $
1
5%
8 over market spread
Italy 40
Exchange hours
EUR €
1
5%
30 over market spread
Japan 225
Exchange hours
JPY ¥
1
5%
20
Netherlands 25
Exchange hours
EUR €
0.01
5%
0.8
Poland 20
Exchange hours
PLN zł
1
5%
4
Spain 35
Exchange hours
EUR €
1
5%
14
Sweden 30
Exchange hours
SEK Kr
0.25
5%
3
Switzerland 30
Exchange hours
CHF
1
5%
10
UK 100
24 hours
GBP £
1
5%
4
US SP 500
24 hours
USD $
1
5%
1
US Tech 100
24 hours
USD $
1
5%
4
Wall Street
24 hours
USD $
1
5%
6
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
Notes: 1. Tick values vary by index.A one-tick movement in the price of the Underlying index equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one US Tech 100 CFD and the index moves from 1968 to 1969 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. Spreads on futures contracts are given for the nearest contract month. Spreads may be higher for longerdated contracts. 4. No commission is charged on Index CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
3. Shares We offer CFDs on many shares listed on stock exchanges around the world. Countries from which we offer share-based CFDs include:
Australia
Germany
New Zealand
Switzerland
Belgium
Greece
Norway
Turkey
Canada
Hong Kong
Singapore
UK
Denmark
Italy
South Africa
USA
Finland
Japan
Spain
France
Netherlands
Sweden
To find out whether we offer a particular share either search for it by name on our ITP or contact our Support Services.
Notes 1. Each CFD contract is equivalent to holding one Underlying share and is traded in the currency in which that share is listed on its primary exchange. For example if you buy or sell 100 CFDs in Vodafone and the share price moves from 188p to 189p then the value of your position will change by £1.00. 2. Margin Factors for shares are calculated according to the share’s liquidity, market sector and capitalisation. You can find the current Margin Factor for a particular share either by looking at the ITP or by contacting Support Services. 3. We do not apply a spread to Share CFDs. Our Price is the bid and offer price that we receive from the exchange for that share. 4. Commission is charged on each opening and closing CFD trade. Commission is calculated as a percentage of the total contract value (i.e. no of contracts traded x quoted price), subject to a minimum: Region
Commission charged as % of contract value
Minimum commission
UK Shares
0.15%
£12.50
European Shares
0.20%
€20.00
US Shares
0.20%
$30.00
Commission on shares from other regions can be obtained via the Interactive Trading Platform or by contacting Support Services.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
4. Sectors We offer CFDs on many UK sectors. These include: Aerospace & Defence
Travel & Leisure
Banks
Life Insurance
Beverages
Media
Chemicals
Mining
Construction & Building Materials
Oil & Gas
Electricity
Pharmaceuticals & Biotechnology
Industrial Engineering
Real Estate
Food & Drug Retailers
Software Computer Services
Food Producers
General Financial
General Retailers
Support Services
Household Goods
Fixed Line Telecoms
Technology Hardware Equipment
Tobacco
Non-Life Insurance
Industrial Transport
Equity Investment Institutions
Gas, Water, Multi
Notes: 1. Sector CFDs prices are derived by applying a 0.4% spread to the bid and offer price that we receive from the exchange for that sector. 2. Sector CFDs are traded in the same way as UK shares and all have a “Tick Value” of 1. 3. Margin Factors for sectors are calculated according to that sector’s liquidity and size. You can find the current Margin Factor for a particular sector either by looking at the ITP or by contacting Support Services. 4. No commission is charged on Sector CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
5. Currencies CFD markets: Market
CFD Market Hours
Tick Value
Currency of Market
Margin Factor
Spread
AUD/CHF
24 hours
0.0001
CHF
2%
15
AUD/JPY
24 hours
0.01
JPY ¥
2%
10
AUD/NZD
24 hours
0.0001
NZD $
2%
15
AUD/USD
24 hours
0.0001
USD $
2%
4
CHF/JPY
24 hours
0.01
JPY ¥
2%
5
EUR/AUD
24 hours
0.0001
AUD $
2%
10
EUR/CAD
24 hours
0.0001
CAD $
2%
10
EUR/CHF
24 hours
0.0001
CHF
2%
4
EUR/GBP
24 hours
0.0001
GBP £
2%
3
EUR/JPY
24 hours
0.01
JPY ¥
2%
4
EUR/NZD
24 hours
0.0001
NZD $
2%
20
EUR/USD
24 hours
0.0001
USD $
2%
3
GBP/AUD
24 hours
0.0001
AUD $
2%
15
GBP/CAD
24 hours
0.0001
CAD $
2%
10
GBP/CHF
24 hours
0.0001
CHF
2%
10
GBP/JPY
24 hours
0.01
JPY ¥
2%
10
GBP/NZD
24 hours
0.0001
NZD $
2%
25
GBP/USD
24 hours
0.0001
USD $
2%
4
NZD/CHF
24 hours
0.0001
CHF
2%
10
NZD/JPY
24 hours
0.01
JPY ¥
2%
10
NZD/USD
24 hours
0.0001
USD $
2%
4
USD/CAD
24 hours
0.0001
CAD $
2%
4
USD/CHF
24 hours
0.0001
CHF
2%
4
USD/JPY
24 hours
0.01
JPY ¥
2%
4
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
CFD expiring markets: Market
CFD Market Hours
Tick Value
Currency of Market
Margin Factor
Spread
AUD/USD
24 hours
0.0001
USD $
2%
5
EUR/USD
24 hours
0.0001
USD $
2%
8
GBP/USD
24 hours
0.0001
USD $
2%
8
NZD/USD
24 hours
0.0001
USD $
2%
12
USD/CAD
24 hours
0.0001
CAD $
2%
12
USD/CHF
24 hours
0.0001
CHF
2%
8
USD/JPY
24 hours
0.01
JPY ¥
2%
10
US Dollar Index
24 hours
0.01
USD $
2%
18
Notes: 1. Tick values vary by FX Markets. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in GBP/USD and the exchange rate moves from 2.0305 to 2.0306 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near market opening and closing times and outside market hours, or in response to market conditions. 3. No commission is charged on Currency CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
6. Metals CFD markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Gold
Exchange hours
USD $
1
5%
0.5 over market spread
Silver
Exchange hours
USD $
1
5%
3 over market spread
CFD expiring markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Copper
Exchange hours
USD $
0.05
5%
40 over market spread
Gold
Exchange hours
USD $
1
5%
0.8 over market spread
Silver
Exchange hours
USD $
0.5
5%
3 over market spread
Notes: 1. Tick values vary by metal. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in Silver (Tick Value = 0.5) and the price moves from $1271.00 to $1271.50 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. No commission is charged on Metal CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
7. Commodities CFD expiring markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Coffee C
Exchange hours
USD $
0.1
5%
0.8 over market spread
Corn
Exchange hours
USD $
0.25
5%
2.5 over market spread
Cotton No. 2
Exchange hours
USD $
0.01
5%
40 over market spread
Feeder Cattle
Exchange hours
USD $
0.01
5%
0.4 over market spread
Gas Oil
Exchange hours
USD $
25
5%
200 over market spread
Gasoline RBOB
Exchange hours
USD $
1
5%
30 over market spread
Heating Oil
Exchange hours
USD $
1
5%
40 over market spread
Lean Hogs
Exchange hours
USD $
0.01
5%
0.3 over market spread
Live Cattle
Exchange hours
USD $
0.025
5%
40 over market spread
London No. 7 Cocoa
Exchange hours
GBP £
1
5%
6 over market spread
London Wheat
Exchange hours
GBP £
0.05
5%
0.4 over market spread
Lumber
Exchange hours
USD $
0.1
5%
4 over market spread
NY Cocoa
Exchange hours
USD $
1
5%
8 over market spread
Natural Gas
Exchange hours
USD $
0.001
5%
50 over market spread
Oats
Exchange hours
USD $
0.25
5%
2 over market spread
Orange Juice
Exchange hours
USD $
0.01
5%
0.6 over market spread
Pork Bellies
Exchange hours
USD $
0.01
5%
40 over market spread
Robusta Coffee
Exchange hours
USD $
1
5%
8 over market spread
Soyabean
Exchange hours
USD $
0.25
5%
2 over market spread
Soyabean Meal
Exchange hours
USD $
0.1
5%
0.8 over market spread
Soyabean Oil
Exchange hours
USD $
0.01
5%
8 over market spread
Sugar No. 5
Exchange hours
USD $
0.1
5%
0.8 over market spread
Sugar No.11
Exchange hours
USD $
0.01
5%
0.08 over market spread
UK Crude Oil
Exchange hours
USD $
1
5%
6 over market spread
US Crude Oil
Exchange hours
USD $
0.01
5%
6 over market spread
Wheat
Exchange hours
USD $
0.25
5%
3 over market spread
Notes: 1. Tick values vary by commodity. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in Soyabean Meal (Tick Value = 0.1) and the price moves from 340.5 to 340.6 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. No commission is charged on Commodity CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
8. Bonds CFD expiring markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Australian 10-yr Bond
Exchange hours
AUD $
0.005
1.5%
0.03
Australian 3-yr Bond
Exchange hours
AUD $
0.005
1.5%
0.03
Euro Bobl
Exchange hours
EUR €
0.01
1.5%
3
Euro Bund
Exchange hours
EUR €
0.01
1.5%
3
Euro Schatz
Exchange hours
EUR €
0.01
1.5%
3
Japanese 10-yr Bond
Exchange hours
JPY ¥
0.01
1.5%
1
UK Long Gilt
Exchange hours
GBP £
0.01
1.5%
3
US T-Bond
Exchange hours
USD $
0.01
1.5%
3
US T-Note 10-yr
Exchange hours
USD $
0.005
1.5%
0.03
US T-Note 5-yr
Exchange hours
USD $
0.005
1.5%
0.03
Notes: 1. Tick values vary by bond. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in the Australian 10-yr Bond (Tick Value = 0.005) and the price moves from AUD $93.773 to AUD $93.778 then the value of your position will change by AUD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. Treasury Bonds (T-Bonds) and Treasury Notes (T-Notes) follow the US convention of being quoted in 1/32nds and 1/64ths respectively. For example if the price of the T-Bond on the ITP is shown as 113.31, this means 113 and 31/32. Similarly if the price of the 5-yr T-Note is shown as 110.245 this means 110 and 49/64 (or 110 and 24.5/32). 4. No commission is charged on Bond CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
9. Interest rates CFD expiring markets: Market
Trading Hours
Currency of market
Tick Value
Margin Factor
Spread
Australian Bank Bills
Exchange hours
AUD $
0.01
0.35%
3
Euro (Euribor) 3-month
Exchange hours
EUR €
0.01
0.35%
3
Eurodollar
Exchange hours
USD $
0.01
0.35%
3
Short Sterling 3-month
Exchange hours
GBP £
0.01
0.35%
3
Notes: 1. All Interest Rate CFDs have the same tick value. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in the Eurodollar and the price moves from 9569 to 9570 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. Spreads are given for contracts expiring within 12 months. Spreads may be higher for longer dated contracts. 4. No commission is charged on Interest Rate CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
10. Financing Financing for non-FX positions There is a daily financing charge or credit associated with any CFD position that does not have an expiry and is held overnight. This is calculated using the following formula:
F = V x i / b, where:
F= daily financing charge
V = value of equivalent holding of the underlying financial instrument,
minus margin requirement.
i = applicable financing rate
b = day basis for currency
(365 for GBP and AUD, 360 for all other currencies)
Your account will be debited a financing amount for each long CFD position that you hold, and will be credited a financing amount for each short CFD position that you hold. The financing rates used are: Country
Long Financing
Short Financing
UK
1.5% over LIBOR
2.5% under LIBOR
US
1.5% over LIBOR
2.5% under LIBOR
EU
1.5% over LIBOR
2.5% under LIBOR
Australia
1.5% over RBA ICOR
2.5% under RBA ICOR
Financing from other regions can be obtained by contacting Support Services. For a position held on a Friday or prior to a non-business day in the relevant market, financing will be applied on the number of days until the next business day (e.g. for a position held at the close of business on a Friday, financing will be applied for 3 days, assuming the next business day is a Monday).
Financing for FX For FX positions, the daily financing is calculated by using the one day interest rate differentials for the two currencies concerned. We then apply the market rate premium or discount, together with our overnight charge which will have a minimum or maximum rate. Effectively, you receive financing if you have bought the currency with the higher interest rate or pay financing if you have bought the currency with the lower interest rate. The financing posting/adjustment will be made in one currency.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
Dividend adjustment on equities If a dividend is paid on the underlying share, then a cash posting is made to your account to reflect this. For example, if BP was paying a 5p dividend then holders of long positions would be paid 5p per nominal share held (less withholding tax, if applicable) and holders of short positions would be charged 5p per nominal share held. This offsets the change in price which occurs when a share goes ex-dividend.
Dividend adjustment on indices and sectors From time to time dividend adjustments are made to indices or sectors. The index or sector price is adjusted by the aggregate dividend amount for all companies making up the index or sector. A cash posting is made to your account to reflect this.
Contact us Selftrade CFDs Moorgate Hall 155 Moorgate London EC2M 6XB Dealing Desk Tel: 0845 356 0161 Customer Services Tel: 0845 356 0160
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
Contents
Section Number
Introduction
1
Indices
2
Shares
3
Sectors
4
Currencies
5
Metals
6
Commodities
7
Bonds
8
Interest rates
9
Financing
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
1. Introduction These Market Information Sheets describe the various contracts for difference (CFDs) that we offer. They form part of our contractual terms and policies and should be read in conjunction with our General Terms, Margining Terms and CFD Terms, which take precedence in the event of a conflict with these sheets. Further information about individual CFDs (for instance minimum/maximum trade sizes, Margin Factors, rates for Guaranteed Stop Loss Orders and the basis of settlement for expiring markets) is available through our Interactive Trading Platform (“ITP”) or by contacting our Support Services.
Trading hours We are open for trading from Sunday evening 20:00 GMT during winter months / 22:00 BST during summer months, through to 21:15 Friday evening London time. Trades or Orders can only be placed at times which are during both our trading hours and the relevant CFD market hours: • if market hours are described as “24 hours”, this means you are able to place Trades and Orders (other than Guaranteed Orders) at any time when we are open for trading, and there is a price quoted in the underlying market on an exchange that we choose to use as the basis of our price. • if markets are described as “exchange hours”, this means you are able to place Trades only at times when both the exchange from which our CFD is priced is open and we are open for trading. However, you may still place Orders for such a CFD (other than Guaranteed Orders) outside those exchange hours if we are open for trading. If we plan to close for a period, for instance on Christmas Day, we will advise you of the modified trading hours on the ITP no less than two business days in advance of that day. There are times when a suspension or closure of an exchange or over-the-counter market may occur. We may not be able to quote or to execute the relevant CFD Trades and Orders during these times.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
Currency abbreviations Standard international abbreviations are used for currencies: Abbreviation
Symbol
Currency
AUD
$
Australian dollar
CAD
$
Canadian dollar
CHF
CHF
Swiss franc
DKK
kr
Danish kroner
EUR
€
Euro
GBP
£
British pound
HKD
HK$
Hong Kong dollar
IDR
Rp
Indonesian Rupiah
JPY
¥
Japanese yen
KRW
₩
Korean wong
MXN
$
Mexican peso
NOK
kr
Norwegian krone
NZD
$
New Zealand dollar
PLN
zł
Polish zloty
SEK
kr
Swedish kronor
SGD
$
Singapore dollar
USD
$
US dollar
ZAR
R
South African rand
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
2. Indices CFD markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
EU Stocks 50
Exchange hours
EUR €
1
5%
4
France 40
Exchange hours
EUR €
1
5%
5
Germany 30
24 hours
EUR €
1
5%
5
Hong Kong 40
Exchange hours
HKD $
1
5%
20
Italy 40
Exchange hours
EUR €
1
5%
30
Japan 225
Exchange hours
JPY ¥
1
5%
20
Netherlands 25
Exchange hours
EUR €
0.01
5%
0.4
Spain 35
Exchange hours
EUR €
1
5%
12
Sweden 30
Exchange hours
SEK Kr
0.25
5%
2
Switzerland 30
Exchange hours
CHF
1
5%
8
UK 100
24 hours
GBP £
1
5%
4
US SP 500
24 hours
USD $
1
5%
0.8
US Tech 100
24 hours
USD $
1
5%
3
Wall Street
24 hours
USD $
1
5%
6
CFD expiring markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Australia 200
24 hours
AUD $
1
5%
3
EU Stocks 50
Exchange hours
EUR €
1
5%
5
France 40
Exchange hours
EUR €
1
5%
6
Germany 30
24 hours
EUR €
1
5%
6
Hong Kong 40
Exchange hours
HKD $
1
5%
20 over market spread
India 50
Exchange hours
USD $
1
5%
8 over market spread
Italy 40
Exchange hours
EUR €
1
5%
30 over market spread
Japan 225
Exchange hours
JPY ¥
1
5%
20
Netherlands 25
Exchange hours
EUR €
0.01
5%
0.8
Poland 20
Exchange hours
PLN zł
1
5%
4
Spain 35
Exchange hours
EUR €
1
5%
14
Sweden 30
Exchange hours
SEK Kr
0.25
5%
3
Switzerland 30
Exchange hours
CHF
1
5%
10
UK 100
24 hours
GBP £
1
5%
4
US SP 500
24 hours
USD $
1
5%
1
US Tech 100
24 hours
USD $
1
5%
4
Wall Street
24 hours
USD $
1
5%
6
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
Notes: 1. Tick values vary by index.A one-tick movement in the price of the Underlying index equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one US Tech 100 CFD and the index moves from 1968 to 1969 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. Spreads on futures contracts are given for the nearest contract month. Spreads may be higher for longerdated contracts. 4. No commission is charged on Index CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
3. Shares We offer CFDs on many shares listed on stock exchanges around the world. Countries from which we offer share-based CFDs include:
Australia
Germany
New Zealand
Switzerland
Belgium
Greece
Norway
Turkey
Canada
Hong Kong
Singapore
UK
Denmark
Italy
South Africa
USA
Finland
Japan
Spain
France
Netherlands
Sweden
To find out whether we offer a particular share either search for it by name on our ITP or contact our Support Services.
Notes 1. Each CFD contract is equivalent to holding one Underlying share and is traded in the currency in which that share is listed on its primary exchange. For example if you buy or sell 100 CFDs in Vodafone and the share price moves from 188p to 189p then the value of your position will change by £1.00. 2. Margin Factors for shares are calculated according to the share’s liquidity, market sector and capitalisation. You can find the current Margin Factor for a particular share either by looking at the ITP or by contacting Support Services. 3. We do not apply a spread to Share CFDs. Our Price is the bid and offer price that we receive from the exchange for that share. 4. Commission is charged on each opening and closing CFD trade. Commission is calculated as a percentage of the total contract value (i.e. no of contracts traded x quoted price), subject to a minimum: Region
Commission charged as % of contract value
Minimum commission
UK Shares
0.15%
£12.50
European Shares
0.20%
€20.00
US Shares
0.20%
$30.00
Commission on shares from other regions can be obtained via the Interactive Trading Platform or by contacting Support Services.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
4. Sectors We offer CFDs on many UK sectors. These include: Aerospace & Defence
Travel & Leisure
Banks
Life Insurance
Beverages
Media
Chemicals
Mining
Construction & Building Materials
Oil & Gas
Electricity
Pharmaceuticals & Biotechnology
Industrial Engineering
Real Estate
Food & Drug Retailers
Software Computer Services
Food Producers
General Financial
General Retailers
Support Services
Household Goods
Fixed Line Telecoms
Technology Hardware Equipment
Tobacco
Non-Life Insurance
Industrial Transport
Equity Investment Institutions
Gas, Water, Multi
Notes: 1. Sector CFDs prices are derived by applying a 0.4% spread to the bid and offer price that we receive from the exchange for that sector. 2. Sector CFDs are traded in the same way as UK shares and all have a “Tick Value” of 1. 3. Margin Factors for sectors are calculated according to that sector’s liquidity and size. You can find the current Margin Factor for a particular sector either by looking at the ITP or by contacting Support Services. 4. No commission is charged on Sector CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
5. Currencies CFD markets: Market
CFD Market Hours
Tick Value
Currency of Market
Margin Factor
Spread
AUD/CHF
24 hours
0.0001
CHF
2%
15
AUD/JPY
24 hours
0.01
JPY ¥
2%
10
AUD/NZD
24 hours
0.0001
NZD $
2%
15
AUD/USD
24 hours
0.0001
USD $
2%
4
CHF/JPY
24 hours
0.01
JPY ¥
2%
5
EUR/AUD
24 hours
0.0001
AUD $
2%
10
EUR/CAD
24 hours
0.0001
CAD $
2%
10
EUR/CHF
24 hours
0.0001
CHF
2%
4
EUR/GBP
24 hours
0.0001
GBP £
2%
3
EUR/JPY
24 hours
0.01
JPY ¥
2%
4
EUR/NZD
24 hours
0.0001
NZD $
2%
20
EUR/USD
24 hours
0.0001
USD $
2%
3
GBP/AUD
24 hours
0.0001
AUD $
2%
15
GBP/CAD
24 hours
0.0001
CAD $
2%
10
GBP/CHF
24 hours
0.0001
CHF
2%
10
GBP/JPY
24 hours
0.01
JPY ¥
2%
10
GBP/NZD
24 hours
0.0001
NZD $
2%
25
GBP/USD
24 hours
0.0001
USD $
2%
4
NZD/CHF
24 hours
0.0001
CHF
2%
10
NZD/JPY
24 hours
0.01
JPY ¥
2%
10
NZD/USD
24 hours
0.0001
USD $
2%
4
USD/CAD
24 hours
0.0001
CAD $
2%
4
USD/CHF
24 hours
0.0001
CHF
2%
4
USD/JPY
24 hours
0.01
JPY ¥
2%
4
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
CFD expiring markets: Market
CFD Market Hours
Tick Value
Currency of Market
Margin Factor
Spread
AUD/USD
24 hours
0.0001
USD $
2%
5
EUR/USD
24 hours
0.0001
USD $
2%
8
GBP/USD
24 hours
0.0001
USD $
2%
8
NZD/USD
24 hours
0.0001
USD $
2%
12
USD/CAD
24 hours
0.0001
CAD $
2%
12
USD/CHF
24 hours
0.0001
CHF
2%
8
USD/JPY
24 hours
0.01
JPY ¥
2%
10
US Dollar Index
24 hours
0.01
USD $
2%
18
Notes: 1. Tick values vary by FX Markets. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in GBP/USD and the exchange rate moves from 2.0305 to 2.0306 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near market opening and closing times and outside market hours, or in response to market conditions. 3. No commission is charged on Currency CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
6. Metals CFD markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Gold
Exchange hours
USD $
1
5%
0.5 over market spread
Silver
Exchange hours
USD $
1
5%
3 over market spread
CFD expiring markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Copper
Exchange hours
USD $
0.05
5%
40 over market spread
Gold
Exchange hours
USD $
1
5%
0.8 over market spread
Silver
Exchange hours
USD $
0.5
5%
3 over market spread
Notes: 1. Tick values vary by metal. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in Silver (Tick Value = 0.5) and the price moves from $1271.00 to $1271.50 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. No commission is charged on Metal CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
7. Commodities CFD expiring markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Coffee C
Exchange hours
USD $
0.1
5%
0.8 over market spread
Corn
Exchange hours
USD $
0.25
5%
2.5 over market spread
Cotton No. 2
Exchange hours
USD $
0.01
5%
40 over market spread
Feeder Cattle
Exchange hours
USD $
0.01
5%
0.4 over market spread
Gas Oil
Exchange hours
USD $
25
5%
200 over market spread
Gasoline RBOB
Exchange hours
USD $
1
5%
30 over market spread
Heating Oil
Exchange hours
USD $
1
5%
40 over market spread
Lean Hogs
Exchange hours
USD $
0.01
5%
0.3 over market spread
Live Cattle
Exchange hours
USD $
0.025
5%
40 over market spread
London No. 7 Cocoa
Exchange hours
GBP £
1
5%
6 over market spread
London Wheat
Exchange hours
GBP £
0.05
5%
0.4 over market spread
Lumber
Exchange hours
USD $
0.1
5%
4 over market spread
NY Cocoa
Exchange hours
USD $
1
5%
8 over market spread
Natural Gas
Exchange hours
USD $
0.001
5%
50 over market spread
Oats
Exchange hours
USD $
0.25
5%
2 over market spread
Orange Juice
Exchange hours
USD $
0.01
5%
0.6 over market spread
Pork Bellies
Exchange hours
USD $
0.01
5%
40 over market spread
Robusta Coffee
Exchange hours
USD $
1
5%
8 over market spread
Soyabean
Exchange hours
USD $
0.25
5%
2 over market spread
Soyabean Meal
Exchange hours
USD $
0.1
5%
0.8 over market spread
Soyabean Oil
Exchange hours
USD $
0.01
5%
8 over market spread
Sugar No. 5
Exchange hours
USD $
0.1
5%
0.8 over market spread
Sugar No.11
Exchange hours
USD $
0.01
5%
0.08 over market spread
UK Crude Oil
Exchange hours
USD $
1
5%
6 over market spread
US Crude Oil
Exchange hours
USD $
0.01
5%
6 over market spread
Wheat
Exchange hours
USD $
0.25
5%
3 over market spread
Notes: 1. Tick values vary by commodity. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in Soyabean Meal (Tick Value = 0.1) and the price moves from 340.5 to 340.6 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. No commission is charged on Commodity CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
8. Bonds CFD expiring markets: Market
Market Hours
Currency of market
Tick Value
Margin Factor
Spread
Australian 10-yr Bond
Exchange hours
AUD $
0.005
1.5%
0.03
Australian 3-yr Bond
Exchange hours
AUD $
0.005
1.5%
0.03
Euro Bobl
Exchange hours
EUR €
0.01
1.5%
3
Euro Bund
Exchange hours
EUR €
0.01
1.5%
3
Euro Schatz
Exchange hours
EUR €
0.01
1.5%
3
Japanese 10-yr Bond
Exchange hours
JPY ¥
0.01
1.5%
1
UK Long Gilt
Exchange hours
GBP £
0.01
1.5%
3
US T-Bond
Exchange hours
USD $
0.01
1.5%
3
US T-Note 10-yr
Exchange hours
USD $
0.005
1.5%
0.03
US T-Note 5-yr
Exchange hours
USD $
0.005
1.5%
0.03
Notes: 1. Tick values vary by bond. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in the Australian 10-yr Bond (Tick Value = 0.005) and the price moves from AUD $93.773 to AUD $93.778 then the value of your position will change by AUD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. Treasury Bonds (T-Bonds) and Treasury Notes (T-Notes) follow the US convention of being quoted in 1/32nds and 1/64ths respectively. For example if the price of the T-Bond on the ITP is shown as 113.31, this means 113 and 31/32. Similarly if the price of the 5-yr T-Note is shown as 110.245 this means 110 and 49/64 (or 110 and 24.5/32). 4. No commission is charged on Bond CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
9. Interest rates CFD expiring markets: Market
Trading Hours
Currency of market
Tick Value
Margin Factor
Spread
Australian Bank Bills
Exchange hours
AUD $
0.01
0.35%
3
Euro (Euribor) 3-month
Exchange hours
EUR €
0.01
0.35%
3
Eurodollar
Exchange hours
USD $
0.01
0.35%
3
Short Sterling 3-month
Exchange hours
GBP £
0.01
0.35%
3
Notes: 1. All Interest Rate CFDs have the same tick value. A one-tick movement in the price equates to a movement in the value of the corresponding CFD of one currency unit. For example if you buy or sell one CFD in the Eurodollar and the price moves from 9569 to 9570 then the value of your position will change by USD $1.00. 2. The Spreads quoted are indicative of the Spreads that we quote during CFD market hours. Current Spreads can be found on the ITP or by contacting Support Services. Please note that Spreads may widen near exchange opening and closing times and outside exchange hours, or in response to market conditions. 3. Spreads are given for contracts expiring within 12 months. Spreads may be higher for longer dated contracts. 4. No commission is charged on Interest Rate CFDs.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
10. Financing Financing for non-FX positions There is a daily financing charge or credit associated with any CFD position that does not have an expiry and is held overnight. This is calculated using the following formula:
F = V x i / b, where:
F= daily financing charge
V = value of equivalent holding of the underlying financial instrument,
minus margin requirement.
i = applicable financing rate
b = day basis for currency
(365 for GBP and AUD, 360 for all other currencies)
Your account will be debited a financing amount for each long CFD position that you hold, and will be credited a financing amount for each short CFD position that you hold. The financing rates used are: Country
Long Financing
Short Financing
UK
1.5% over LIBOR
2.5% under LIBOR
US
1.5% over LIBOR
2.5% under LIBOR
EU
1.5% over LIBOR
2.5% under LIBOR
Australia
1.5% over RBA ICOR
2.5% under RBA ICOR
Financing from other regions can be obtained by contacting Support Services. For a position held on a Friday or prior to a non-business day in the relevant market, financing will be applied on the number of days until the next business day (e.g. for a position held at the close of business on a Friday, financing will be applied for 3 days, assuming the next business day is a Monday).
Financing for FX For FX positions, the daily financing is calculated by using the one day interest rate differentials for the two currencies concerned. We then apply the market rate premium or discount, together with our overnight charge which will have a minimum or maximum rate. Effectively, you receive financing if you have bought the currency with the higher interest rate or pay financing if you have bought the currency with the lower interest rate. The financing posting/adjustment will be made in one currency.
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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Selftrade CFDs and Spread Betting
Dividend adjustment on equities If a dividend is paid on the underlying share, then a cash posting is made to your account to reflect this. For example, if BP was paying a 5p dividend then holders of long positions would be paid 5p per nominal share held (less withholding tax, if applicable) and holders of short positions would be charged 5p per nominal share held. This offsets the change in price which occurs when a share goes ex-dividend.
Dividend adjustment on indices and sectors From time to time dividend adjustments are made to indices or sectors. The index or sector price is adjusted by the aggregate dividend amount for all companies making up the index or sector. A cash posting is made to your account to reflect this.
Contact us Selftrade CFDs Moorgate Hall 155 Moorgate London EC2M 6XB Dealing Desk Tel: 0845 356 0161 Customer Services Tel: 0845 356 0160
Selftrade CFDs and Selftrade Spread Betting is a trading name of City Index Ltd. Telephone: 0845 356 0160 Email: [email protected] Website: www.selftradecfds-sb.co.uk Authorised and regulated by the Financial Services Authority and registered in England Number 1761813
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