Spread Betting Commodities - Futures

Commodity Symbol Spread IM Factor (Margin Req) Trading Hours Contract Months Last Dealing Day Basis of Settlement Min/ Max Size † Tick Factor Example Price Last Update
Brent Crude Oil FuturesNear month: 5 (14:00 to 19:30 London time; market spread will be added outside these times)
Far month market spread + 5		2% 01:00 - 23:00 London time (close at 22:00 London time on Fridays and open at 23:00 Sundays) (can change around Daylight Savings switch)Monthly1st or 2nd Business day preceding the 15th day prior to 1st day of contract month at 19:30 London time. (If 15th is a non-business day, use 2nd bus. day preceding the 15th)Official ICE settlement price on GFTs last day of dealing1 / 1001 47648/9/2009 4:41:45 PM
Carbon Emissions14 + Underlying market spread10%07:00-17:00 London timeDec1st business day preceding the last Monday of the contract month. However, if the last Monday is a Non-Business Day or there is a Non-Business Day in the 4 days following the last Monday, the last day of trading will be the 1st business day preceding the penultimate Monday of the delivery month. Where the penultimate Monday of the delivery month falls on a Non-Business Day, or there is a Non-Business Day in the 4 days immediately following the penultimate Monday, the last day of trading shall be the 1st business day preceding the antepenultimate Monday of the delivery month.ICE settlement price on GFT Last Dealing Day1 / 2501 14401 CFD = 100 metric tons12/1/2009 9:56:05 AM
Gold Futures (see also Spot Gold - Rolling)0.7 (i.e. 7 with trade per 0.1)1% 18:00 - 17:15 ETFeb, Apr, Jun, Aug, Oct, Dec3rd Friday or previous business day of previous month at 13:30 ETOfficial COMEX settlement price of contract on GFTs last day of dealing1 / 5000.1 968.21/19/2010 4:02:35 PM
Heating Oil30 plus underlying futures bid/offer (i.e. 0.0030 + underlying with trade per 0.01)10%18:00 - 17:15 ET. Sunday open at 18:00 and Friday close at 17:00 ETMonthly2nd to last business day of previous month until 14:30 ETOfficial NYMEX settlement price on GFTs last dealing day1/ 1000.012.00751 CFD = 100 Gallons4/26/2010 10:29:33 AM
High Grade Copper Futures0.8 (i.e. 16 with trade per 0.05)3%18:00 – 17:15 ETJan, Mar, May, July, Sep, Dec3rd Friday or previous business day of previous month at 13:00 ETOfficial COMEX settlement on GFTs last day of dealing1 / 5000.05 141.681/8/2010 3:17:34 PM
Lean Hogs Futures0.4 plus underlying futures bid/offer (i.e. 40 + underlying with trade per 0.01)4%09:05 - 13:00 ET-1Feb, Apr, May, Jun, Jul, Aug, Oct, Dec3rd Friday or Previous business day of previous month at 13:00 ET-1 Official CME settlement price of contract on GFTs last day of dealing 1/ 5000.01 57.853/27/2009 4:36:09 AM
Live Cattle Futures0.4 plus underlying futures bid/offer (i.e. 40 + underlying with trade per 0.01)2%09:05 - 13:00 ET-1 Feb, Apr, Jun, Aug, Oct, Dec3rd Friday or Previous business day of previous month Official CME settlement price of contract on GFTs last day of dealing 1/ 5000.01 84.2553/27/2009 4:36:56 AM
London Cocoa Futures85% 09:30 - 16:50 London timeMar, May, July, Sep, Dec2nd Friday or previous business day of previous month until 16:50 London timeOfficial Euronext.LIFFE settlement price on GFTs last day of dealing.1 / 1001 18763/27/2009 4:37:29 AM
London Coffee Futures105% 09:00 - 17:30 London timeJan, Mar, May, July, Sep, NovLast business day of previous month until 17:30 London time
Official Euronext.LIFFE settlement price on GFTs last day of dealing1 / 501 15763/3/2010 8:08:01 AM
London Gas Oil Futures100 (i.e. 4 with trade per 25)4%01:00 - 23:00 London time (close at 22:00 London time on Fridays and open at 23:00 Sundays) (can change around Daylight Savings switch)Monthly5th business day prior to 14th calendar day of the contract month at 16:30 London timeOfficial ICE settlement on GFTs last day of dealing1 / 12525 367501/12/2010 5:12:53 AM
London Sugar Futures1 (i.e. 10 with trade per 0.1)2% 08:45 - 17:30 London timeMar, May, Aug, Oct, Dec1st business day of previous month until 17:30 London timeOfficial Euronext.LIFFE settlement price on GFTs last day of dealing1 / 500.1 480.51/8/2010 3:18:07 PM
London Wheat Futures0.4 + underlying futures bid/offer (i.e. 40 + underlying with trade per 0.01)8%09:25 - 17:28 London timeJan, Mar, May, Jul, Nov1st Friday or previous business day of previous month at 17:28 London timeOfficial LIFFE settlement price on GFTs last day of dealing1 / 1000.01 111.653/27/2009 4:40:05 AM
Natural Gas30 plus underlying futures bid/offer (i.e. 30 + underlying with trade per 0.001)10%18:00 - 17:15 ET. Sunday open at 18:00 and Friday close at 17:00 ETMonthly4th Business day preceding the 1st day of the contract month at 14:30 ETOfficial NYMEX settlement on GFTs last dealing day1/ 1000.0014.7211 CFD = 1000 MMBtu5/30/2010 10:03:16 AM
Orange Juice Futures0.5 (i.e. 50 with trade per 0.01)3%08:00 - 14:00 ETJan, Mar, May, July, Sep, Nov3rd last dealing day of previous month at 13:30 ETOfficial ICE settlement price of FCOJ-A Futures on GFTs last day of dealing1 / 1000.01 67.2111/4/2009 12:19:00 PM
Palladium Futures4 (i.e. 40 with trade per 0.1)5% 18:00 - 17:15 ETMar, Jun, Sep, Dec3rd Friday or previous business day of previous month until 13:00 ETOfficial NYMEX settlement price on GFTs last day of dealing1 / 500.1 218.51/8/2010 3:18:42 PM
Platinum Futures3 plus underlying futures bid/offer (i.e. 30 + underlying with trade per 0.1)5% 18:00 - 17:15 ETJan, Apr, Jul, Oct3rd Friday or previous business day of previous month until 13:00 ETOfficial NYMEX settlement price on GFTs last day of dealing1 / 500.1 1170.31/8/2010 3:18:50 PM
Silver Futures3 (i.e. 30 with trade per 0.1)1% 18:00 - 17:15 ET (i.e. 24 hours with a 45 minute break)Jan, Mar, May, July, Sep, Dec3rd Friday or previous business day of previous month until 13:25 ETOfficial NYMEX settlement price on GFTs last day of dealing1 / 500.1 1413.31/8/2010 3:19:06 PM
Spot Brent Crude Oil5
(14:00 to 19:30 London time); Underlying futures market bid/ask spread will be added to GFT spread outside these times 		2%01:00 - 23:00 London time (close at 22:00 London time on Fridays and open at 23:00 Sundays) (can change around Daylight Savings switch).
One trading day prior to the expiry of the underlying ICE futures contract, trading ceases at 19:30 London time and recommences at 01:00 London time the next trading day		n/an/an/a - Please see below for details of how positions are adjusted on the trading day prior to the expiry date of the underlying ICE futures contract. 1 / 1001 7450$1 = 100 barrels8/19/2009 7:47:09 PM
Spot Gold 0.5 (i.e. 5 with tick factor per 0.1)1%18:00 - 17:15 ET (i.e. 24 hours with a 45 minute break)n/an/aBBA USD LIBOR overnight rate at 17:00 ET1 / 5000.1 970.28/9/2009 4:43:08 PM
Spot Silver3 (i.e. 30 with tick factor per 0.1)1%18:00 - 17:15 ET (i.e. 24 hours with a 45 minute break)N/AN/ABBA USD LIBOR overnight rate at 17:00 New York time1 / 1250.1 1419.58/9/2009 4:42:58 PM
Spot WTI Light Crude Oil0.05 (i.e. 5 with trade per 0.01) (14:00 to 19:30 London time); Underlying futures market bid/ask spread will be added to GFT spread outside these times 2%18:00 - 17:15 ET. Sunday open at 18:00 ET, Friday close at 17:00 ET. n/an/an/a - Please see below for details of how positions are adjusted on the trading day prior to the expiry date of the underlying NYMEX futures contract. 1 / 100 0.01 745011/16/2009 11:32:31 AM
US Cocoa Futures103%04:00 - 14:00 ETMar, May, July, Sep, Dec2nd Friday or previous business day of previous month at 11:50 ETOfficial ICE settlement price of Cocoa Futures on GFTs last day of dealing1 / 1001 257411/4/2009 9:53:07 AM
US Coffee C Futures0.6 (i.e. 60 with trade per 0.01)3%03:30 - 14:00 ETMar, May, July, Sep, Dec2nd Friday or previous business day of previous month at 13:30 ETOfficial ICE settlement price of Coffee C Futures on GFTs last day of dealing
1 / 1000.01 111.9511/4/2009 9:56:58 AM
US Corn Futures8 plus underlying futures bid/offer (tick factor of 0.25) 8%09:30 - 13:15 ET-1;
18:00 - 07:15 ET-1
Sundays open 18:00 ET-1, Fridays close 13:15 ET-1		Mar, May, July, Sep, Dec3rd Friday or previous business day of previous month at 13:15 ET-1Official CBOT settlement price on GFT last day of dealing1 / 1250.25378.51 CFD = 100 bushels4/19/2010 6:57:33 PM
US Cotton No. 2 Futures0.3 (i.e. 30 with trade per 0.01)3%21:00 - 14:30 ETMar, May, July, Oct, Dec2nd Friday or previous business day of previous month at 14:15 ETOfficial ICE settlement price of Cotton No. 2 Futures on GFTs last day of dealing1 / 1000.01 44.5911/4/2009 10:01:20 AM
US Soybean Meal Futures20 plus underlying futures bid/offer8%09:30 - 13:15 ET-1;
18:00 - 07:15 ET-1
Sundays open 18:00 ET-1, Fridays close 13:15 ET-1		Jan, Mar, May, Jul, Aug, Sep, Oct, Dec3rd Friday or previous business day of previous month at 13:15 ET-1Official CBOT settlement price on GFT last day of dealing1 / 1250.1264.61 CFD = 10 Short Tons4/19/2010 6:56:38 PM
US Soybean Oil Futures8 plus underlying futures bid/offer8%09:30 - 13:15 ET-1;
18:00 - 07:15 ET-1
Sundays open 18:00 ET-1, Fridays close 13:15 ET-1		Jan, Mar, May, Jul, Aug, Sep, Oct, Dec3rd Friday or previous business day of previous month at 13:15 ET-1Official CBOT settlement price on GFT last day of dealing1 / 1250.0131.781 CFD = 10,000 lbs4/19/2010 6:56:01 PM
US Soybeans Futures2 plus underlying futures bid/offer (tick factor 0.25)8%09:30 - 13:15 ET-1;
18:00 - 07:15 ET-1
Sundays open 18:00 ET-1, Fridays close 13:15 ET-1		Jan, Mar, May, Jul, Aug, Sep, Nov3rd Friday or previous business day of previous month at 13:15 ET-1Official CBOT settlement price on GFT last day of dealing1 / 1250.25872.751 CFD = 100 bushels4/19/2010 6:53:17 PM
US Sugar No 11 Futures0.06 (i.e. 6 with trade per 0.01)8%18:00 - 17:15 ET. Sunday open at 18:00 ET, Friday close at 17:00 ET. Mar, May, July, Oct4th last business day of previous month at 13:30 ETOfficial ICE settlement price of Sugar No. 11 Futures on GFTs last day of dealing1 / 1000.01 12.984/19/2010 6:52:07 PM
US Wheat futures2 plus underlying futures bid/offer (tick factor 0.25)8%09:30 - 13:15 ET-1;
18:00 - 07:15 ET-1
Sundays open 18:00 ET-1, Fridays close 13:15 ET-1		Mar, May, Jul, Sep, Dec3rd Friday or previous business day of previous month at 13:15 ET-1Official CBOT settlement price on GFT last day of dealing1 / 1250.25535.51 CFD= 100 bushels4/19/2010 6:57:18 PM
WTI Crude Oil FuturesNear month: 0.05 (i.e. 5 with trade per 0.01) (14:00 to 19:30 London time) *market spread will be added outside these times; Far month: market spread + 0.05 (i.e. + 5 with trade per 0.01) 2% 18:00 - 17:15 ET. Sunday open at 18:00 ET, Friday close at 17:00 ET.Monthly3rd business day prior to the 25th calendar day of the month preceding the delivery month at 17:15 ET. If the 25th calendar day of the month is a non-business day, trading shall cease on the 3rd business day prior to the business day preceding the 25th calendar day at 17:15 ET. If the GFT Last Trading Day is a Friday, last dealing day time is 17:00 ET. Official NYMEX settlement price on GFTs last day of dealing1 / 500.01 73.9511/16/2009 2:09:21 PM

Spread Betting Commodities - Rolling Spot Metals

Commodity Symbol Spread IM Factor (Margin Req) Trading Hours Basis of Rollover Price & Interest Rate Used for Finance Adjustments Min/Max Size † Tick Factor Example Price Last Update
Spot Gold .GOLD 0.5 (i.e. 5 with tick factor per 0.1)1%18:00 - 17:15 ET (i.e. 24 hours with a 45 minute break)BBA USD LIBOR overnight rate at 17:00 ET1 / 5000.1 970.28/9/2009
Spot Silver.SILVER 3 (i.e. 30 with tick factor per 0.1)1%18:00 - 17:15 ET (i.e. 24 hours with a 45 minute break)BBA USD LIBOR overnight rate at 17:00 New York time1 / 1250.1 1419.58/9/2009

† Tick Factor = the price increment representing 1 whole betting unit, by which P&L and both initial and variation margin is calculated. The Notional Value of your bet is Price*Stake/Tick Factor

Minimum / Maximum Bet Sizes

These vary according to underlying liquidity, market conditions and whether the underlying market is classed as being quoted by Accendo Financial Markets as “out of hours”, i.e. outside of the regular trading hours of the underlying exchange or market.

The market information sheets indicate the usual minimum and maximum bet sizes in GBP; currency equivalents apply for non-GBP accounts.

Restrictions may be applied to maximum bet sizes whether opening or closing.

The minimum stake for all markets with Accendo Financial Markets is £1 (or currency equivalent). The lot size of the corresponding underlying market is provided for your information, as a guide to underlying market trading size.

Trading Hours

Times shown are Accendo Financial Markets' usual times for trading a market and are basis GMT unless otherwise stated; these may vary e.g. on market holidays and where daylight saving applies.

Our normal dealing hours are from 22:00 Sunday to 22:00 on Friday.

Spreads

The spreads shown may vary according to underlying market liquidity, or in “fast markets”.

Finance Adjustments

All finance adjustments are carried out at on open positions at or after 10pm London time. For examples on how the rollover process is applied, please see Examples.

As you hold a position overnight (i.e. after 22:00 UK time), a finance adjustment is made to your account. This is calculated as follows:

f = (s x p x r) / d

where
f = daily financing charge
s = your total stake size
p = closing price as determined by Accendo Financial Markets (usually this will be the price on close of the underlying share)
r = relevant interest rate, PLUS 300 basis points for long positions, or MINUS 300 basis points for short positions, e.g. (4.50% + 3.00%) = 7.50%
d = number of days, i.e. 365 for UK andAustralian indices and 360 for all others

Long (buy) trade positions are debited the daily financing charge
Short (sell) positions are credited the daily financing charge

Accendo Financial Markets is a trading name of GFT Global Markets UK Ltd, Subsidiary of Global Futures & Forex, Ltd.
Registered in England and Wales, Company Number 5394757, Authorized and Regulated by FSA.