Indices Trading | CFD | CFD Trading | Contracts for Difference

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.

JPY Denominated Stock Indices Information Table

Stock Indices Information Table - Main Contracts

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.

1. 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 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)

2. 24-hour dealing starts at 23.00 (London time) on Sunday and finishes at 21.15 (London time) on the following Friday.
   Please note that on Australia 200, 24-hour dealing starts at 23.00 (London time) on Sunday and finishes at 22.00 (London time) on the following Friday.
   Please contact us for specific information about public holidays.
3. We do not quote the Hong Kong HS42 during the HKFE lunch break (12.30-14.30 Hong Kong time).
4. 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 16:50 (Sydney Time) and that is still open after 16:50 (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 rate

   The 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 generally credited to a client's account.
   
   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.

5. Trading times are Japan 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.
6. We do not quote the Australia 200 between 07.00 and 09.50 and between 16.30 and 17.10 (Sydney time).
7. 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.
8. 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.

Expiry Transactions: related expiry markets