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%.

Spreads

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
UK100 £10 £0.10 0.9 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

 

Timetable

 Symbol Related Market Dealing Hours (CET)
GER30 DAX 30 08:00–22:00
UK100 FTSE 100 09:00-22:00
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
FRA40 CAC 40 08:00–22:00

 

Margin Requirement

Please note: you have to select your account leverage to see the required margin for the relevant contracts:
Indices
Point Value
Tick Value
Margin Requirement
Hedged
Max Leverage
GER30
25 EUR
0.25 EUR
- EUR
- EUR
1:400
FRA40
10 EUR
0.10 EUR
- EUR
- EUR
1:400
UK100
10 GBP
0.10 GBP
- GBP
- GBP
1:400
USA500
50 USD
0.50 USD
- USD
- USD
1:400
USAIND
5 USD
0.05 USD
- USD
- USD
1:400
USATEC
20 USD
0.20 USD
- USD
- USD
1:400

Maintaining Positions

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.

Dividend Adjustments

20th November 2017

21st November 2017

22nd November 2017

23rd November 2017

24th November 2017

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:

Intraday:
100-250 LOTS > 250 LOTS
X2 X4
Overnight(*):
10-25 LOTS > 25 LOTS
X2 X4

(*) Applicable 1 hour before the closing.

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