Stock Indices (Forward 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 almost all Stock Index Forward contracts at 20% of the contract size and margin requirement.
Stock Indices (Forward) Information Table
| Index and dealing hours (Local times unless stated) |
Value of one contract (per index point) |
Dealing spread (3) |
Limited Risk premium (4) |
Margin Requirement (per contract) |
|---|---|---|---|---|
| FTSE 100 24 hours |
£10 | 4 (8) | 3 | £2000 |
| Wall Street 24 hours |
$10 | 6 (10) | 4 | $4000 |
| US SPX500 24 hours |
$250 | 0.8 | 0.5 | $7500 |
| US Tech 100 16.30-16.15 |
$100 | 3 | 2 | $9000 |
| US Russ2000 24 hours (except 21.00-21.15 UK time) |
$500 | 0.6 | 0.5 | $20,000 |
| Germany 30 24 hours |
E25 | 6 (12) | 3 | E6250 |
| France 40 24 hours |
E10 | 4 (8) | 2 | E2000 |
| EU Stocks 50 08.00-22.00 |
E10 | 2 | 2 | E2500 |
| Austria 20 09.00-17.30 |
E10 | 10 | 2 | E1000 |
| Netherlands 25 08.00-16.30 |
E200 | 0.8 | 1 | E1900 |
| Italy 40 24 hours |
E5 | 16 (44) | 10 | E7500 |
| Spain 35 24 hours |
E10 | 8 (18) | 4 | E7500 |
| Switzerland Blue Chip 09.00-17.30 |
SF10 | 8 | 4 | SF6300 |
| South Africa 40 08.30-17.30 |
SR10 | 12 | 6 | SR5000 |
| Sweden 30 09.30-16.20 |
SK100 | 1 | 1 | SK3000 |
| Germany Mid-Cap 50 08.00-22.00 |
E5 | 10 | 5 | E3550 |
| Germany Tech 30 08.00-22.00 |
E10 | 2 | 1 | E600 |
| Canada 60 09.30-16.30 |
C$200 | 1 | 1 | CAD5550 |
| Japan 225 24 hours with gaps |
$5 | 30 | 20 | $2500 |
| Hong Kong HS34 24 hours with gaps |
HK10 | 30 (50) | 20 | HK12,000 |
| China H-Shares 01.45-04.30; 06.30-08.15 (UK time) |
HK50 | 20 | 20 | HK40,000 |
| Korea 200 09.00-15.15 |
KW500000 | 30 | 20 | KW 650,000,000 |
| India 50 04.25-10.00 |
$10 | 6 | 6 | $850 |
| Singapore Blue Chip 08.45-12.35; 14.00-17.15; 18.15-22.55 |
SD200 | 0.4 | 0.2 | SD1200 |
| Japan All-Share 09.00-11.00; 12.30-15.10 |
Y10000 | 2 | 1 | Y640,000 |
| Australia 200 24 hours with gaps |
A$25 | 3 | 3 | A$1750 |
| US Dollar Basket 07.00-20.00; 00.00-03.00 |
$10 | 30 | 20 | $1330 |
| VIX (Volatility) 08.30-15.15 |
$1000 | 0.1 | 0.15 | $2000 |
| Belgium 20 09.00-17.30 |
E10 | 10 | 5 | E1970 |
| Norway 25 09.00-16.20 |
NOK100 | 0.7 | 0.5 | NOK2500 |
Settlement information
FTSE 100
Last dealing day: Thursday prior to third Friday or previous business day of contract month. Settles: At the Exchange Delivery Price (EDSP) of the FTSE 100 as reported by Liffe on the last dealing day. The EDSP is based on an intraday cash market auction of the FTSE 100 which commences at 10.10 on the last trading day. Uncrossing of the component stocks should be finished by 10.30. Traded months: Current and next month, last month of current and next quarter.
Wall Street
Last dealing day: Thursday prior to the third Friday or previous business day of contract month. Settles: At the Special Opening Quotation (SOQ) of the DJIA. The SOQ is calculated from the sequence of opening prices of the 30 DJIA stocks on the NYSE. Traded months: Current and next month, last month of current and next quarter.
US SPX500
Last dealing day: Business day preceding third Friday, or previous business day of contract month. This contract can be dealt in until 21:15 London time on the last dealing day. Settles: At the Special Opening Quotation of the S&P 500. Traded months: March, June, September, December
US Tech 100
Last dealing day: Business day preceding third Friday, or previous business day of contract month. Settles: At each day’s official settlement price of the NASDAQ-100. The settlement value is calculated basis the NASDAQ Official Opening Price (NOOP) of the constituent stocks of the index. Traded months: March, June, September, December.
US Russ2000
Last dealing day: Thursday before third Friday of contract month. Settles: Based on the Final Settlement Price of the Russell 2000 futures. Traded months: Current liquid month.
Germany 30
Last dealing day: Third Friday (or previous business day) of contract month. Settles: Based on prices of the component shares of the respective index as determined in an intraday auction starting at 13:00 CET in the electronic trading system Xetra. Traded months: March, June, September, December.
France 40
Last dealing day: Third Friday of contract month. Settles: Basis the EDSP of the CAC 40 as reported by Euronext on the last trading day. The EDSP is calculated as the arithmetic mean (rounded to one decimal place) of the index values between 15.40 and 16.00 (Paris time and including the last value disseminated after 16.00) on the last trading day. Traded months: Current and next month.
EU Stocks 50
Last dealing day: Third Friday of contract month. Settles: At the average price of the Dow Jones Euro STOXX 50 values calculated between 11.50 and 12.00 CET on the last trading day, as reported by Eurex. Traded months: March, June, September, December.
Austria 20
Last dealing day: Third Friday of contract month. Settles: Based on the settlement price of the Austrian Traded Index reported by Wiener Borse on the first banking day following the IG last trading day. Traded months: All liquid months.
Netherlands 25
Last dealing day: Third Friday of contract month. Settles: Based on the average of values of the AEX Index calculated at one-minute intervals between 14.30 and 15.00 on the last trading day. Traded months: March, June, September, December.
Italy 40
Last dealing day: Third Friday of contract month. Settles: Based on the settlement price of the S&P/MIB Index future as reported by Borsa Italiana. The settlement price is a value of the S&P/MIB Index calculated on the basis of prices of shares in the index on the last trading day. Traded months: March, June, September, December.
Spain 35
Last dealing day: Third Friday of contract month. Settles: Based on the average value of the IBEX 35 between 16.15 and 16.44 (Madrid time) on the day of expiry as reported by MEFF. Traded months: Current month and next month, where liquid.
Switzerland Blue Chip
Last dealing day: Trading day prior to third Friday of contract month. Settles: Based on the settlement value of the SMI as reported by Eurex on the third Friday of the contract month (this is the day following the last trading day). The settlement value is calculated on the basis of the virt-x opening prices of the SMI component shares on the third Friday. Traded months: March, June, September, December
South Africa 40
Last dealing day: Third Thursday of contract month. Settles: Based on the official settlement price of the FTSE/JSE Top 40 futures as reported by the JSE Securities Exchange on the third Thursday of the contract month. Traded months: Current liquid month.
Sweden 30
Last dealing day: Third Friday of contract month or previous business day. Settles: Based on the final settlement price of the OMXS30 as reported by EDX London on the last trading day. The price is calculated using the previous day’s closing price of the OMXS30 futures and a volume weighted average price of the OMXS30 on the expiration day. Traded months: All months
Germany Mid-Cap 50
Last dealing day: Third Friday of the contract month. Settles: at the price of the M-Dax determined by Eurex during the intraday auction on the third Friday of the contract month. Traded months: March, June, September and December.
Germany Tech 30
Last dealing day: Third Friday (or previous business day) of contract month. Settles: Based on the final settlement value of the TechDAX as reported by Eurex on the last trading day. The settlement value is based on prices of the component shares of the index as determined in an intraday auction starting at 13.00 CET in the electronic trading system Xetra. Traded months: March, June, September, December.
Canada 60
Last dealing day: Trading day prior to third Friday of contract month. Settles: Based on the Official Opening Level of the S&P/TSX 60 as reported by Bourse de Montreal on the third Friday (this is the day after the last trading day). Traded months: March, June, September, December.
Japan 225
Last dealing day: Business day preceding second Friday or previous business day of contract month. This contract can be dealt in until 21.00 London time on the last dealing day. Settles: At the special opening quotation of the Nikkei 225 Stock Average, on the day following the last dealing day, which is used to settle the Nikkei 225 futures at the Osaka Securities Exchange, rounded to the nearest 1/10th of an index point. Traded months: March, June, September, December.
Hong Kong HS34
Last dealing day: Business day preceding last Hong Kong business day of month. Please note that this contract can only be dealt in until 16.00 Hong Kong time on the last dealing day. Settles: At the settlement price of the Hang Seng on the last dealing day on the Hong Kong Futures Exchange. The settlement price is the average of the Hang Seng at five-minute intervals, rounded down to the nearest whole number, on the last trading day. Quoting for the following month begins during the last week of the current trading month.
China H-Shares
Last dealing day: Trading day preceding last business day of contract month. Settles: Based on the final settlement price of the Hang Seng China Enterprises Index calculated on the trading day prior to the last business day of the contract month. Traded months: Current and next month.
Korea 200
Last dealing day: Second Thursday of contract month. Settles: Based on the settlement price of the KOPSI 200 as reported by the Korean Futures Exchange on the day following the last dealing day. Traded months: March, June, September, December.
India 50
Last dealing day: Last Thursday of contract month. Settles: Based on the official closing price of the CNX Nifty Index on SGX on the last Thursday of the contract month. Traded months: Current liquid month.
Singapore Blue Chip
Last dealing day: Second last Singapore trading day of contract month. Settles: Based on the Special Opening Quotation of the MSCI Singapore Free Index on the day following the last trading day, as reported by SGX. Traded months: Current liquid month.
Japan All-Share
Last dealing day: Trading day preceding second Friday of contract month. Settles: Based on the Special Settlement Price of the relevant TOPIX futures contract as reported by the Tokyo Stock Exchange on the day after the last trading day. The Special Settlement Price is based on the opening prices of the component stocks on the business day following the last trading day. Traded months: March, June, September, December.
Australia 200
Last dealing day: Third Thursday of contract month. Settles: At the Special Opening Quotation (SOQ) of the S&P/ASX 200 on the last trading day calculated to one decimal place. The SOQ is calculated using the first traded price of each component stock in the S&P/ASX 200 on the last trading day, irrespective of when those stocks first trade in the ASX trading day. Traded months: March, June, September, December.
US Dollar Basket
Last dealing day: Second business day prior to the third Wednesday of contract month. Settles: Based on the closing price of the US Dollar Index futures contract on NYBOT on our last dealing day. Traded months: March, June, September, December.
VIX (Volatility)
Last dealing day: Trading day prior to Wednesday, 30 days prior to third Friday of month following contract month. Settles: Based on the final settlement value of the volatility Index futures as reported by CBOE on the day following the last trading day. The final settlement value is determined from a SOQ of the index, which is calculated from the sequence of opening prices of the constituent SPX options. Traded months: Current liquid month.
Belgium 20
Last dealing day: Third Friday of contract month. Settles: Based on the average of values of the BEL 20 Index, as published by Euronext Brussels, between 15.40 and 16.00 (Brussels time) on the last trading day.
Norway 25
Last dealing day: Third Thursday of every month. Settles: Based the official closing price of the OBX Index Future on the Oslo Stock Exchange. Traded months: All months.
Notes to table
1) We do not quote the Australia 200 between 08.00 and 09.50 and between 16.30 and 17.10 (Sydney time).
2) On the last dealing day Australia 200 Futures Contracts may be traded up until 12.00 Sydney time. Positions expire based on the Special Opening Quotation of the underlying S&P/ASX200 Index on the last trading day as reported by the Sydney Futures Exchange (SFE).
3) 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.
4) For Limited Risk transactions, a Limited Risk premium is charged on the opening.
5) 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.
6) 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.