Our new cash indices allow clients to trade the current cash value of the underlying stock indices without any commissions at very tight spreads, which are among the lowest in the industry. Unlike the futures contracts, the cash indices have no expiry date, allowing traders to save from rolling costs and are suitable for both short and long-term strategies.
The cash indices are structured as a CFD and aim to replicate the cash price of the underlying stock market indices. The products are offered with an extended trading session matching the working hours of the futures market.
The margin requirements are among the lowest in the industry, starting at 0.25%.
|Symbol||Point Value||Tick Value||Target Spreads (In Points)||Average Spreads (In Points)||Limit & Stop Levels (In Points)|
|GER30||€ 25||€ 0.25||0.8||–||1|
|FRA40||€ 10||€ 0.10||0.75||–||1.5|
|USA500||$ 50||$ 0.50||0.28||–||0.50|
|USAIND||$ 5||$ 0.05||1.4||–||2|
|USATEC||$ 20||$ 0.20||0.6||–||0.75|
|Symbol||Related Market||Dealing Hours (CET)|
|USA500||S&P 500||00:00-22:15, 22:30-23:00|
|USAIND||Dow Jones Industrial||00:00–22:15, 22:30-23:00|
|USATEC||NASDAQ 100||00:00–22:15, 22:30-23:00|
Long positions held overnight will be debited with swaps, calculated based on 3-month interbank rate plus 1.75%.
Short positions held overnight will be credited with swaps, calculated based on 3-month interbank rate minus 1.75%. In case 3-month rate is less than 1.75%, short positions will be debited the resulting swap calculation.
19th March 2018
20th March 2018
21st March 2018
22nd March 2018
23rd March 2018
Please note that the Cash indices may be subject to dividend adjustments in order to reflect the cash payments of the constituent stocks within the index. These payments cause the value of the index to drop as its price is calculated from the value of the stocks within it.
The dividend adjustments will be applied 1 hour before the market open on the ex-dividend date in order to take into account the downward price movement of the underlying cash index. We will apply Dividend points as estimated by Bloomberg, rounded to the nearest hundredth, and recalculate the amount on a standard Lot (Contract) basis.
The dividend adjustments will be positive for clients holding long positions and negative for those holding short. The calendar with the expected daily adjustments will be published in the Dividend Adjustments section on our Cash Indices page.
Please note that for customers carrying larger net positions on the cash instruments, we reserve the right to multiply the above margin requirements as follows:
|100-250 LOTS||> 250 LOTS|
|10-25 LOTS||> 25 LOTS|
(*) Applicable 1 hour before the closing.