Spread Betting Individual Equities - Rolling
| Equity | Spread | IM Factor (Margin Req) | Trading Hours | Basis of rollover price and Interest Rate used for Finance Adjsutments | Min/ Max Size | † Tick Factor | Example Price | Last Update | ||
0.10% per side | 5% on some stocks, 10% on others | 10:00 - 16:00 Sydney time (Opening times are staggered from 10:00 Sydney time and are approximately: A-B 10:00; C-F 10:03; G-M 10:05; N-R 10:07; S-Z 10:09) | BBA LIBOR AUD Spot Next rate at 17:00 New York time | 1 / No Max | 1 AUD cent | 1875.2 | 10/23/2009 | |||
0.10% | 10% | UK 08:00 - 16:30; | BBA LIBOR EUR Overnight rate at 17:00 New York time | 1 / No Max | 1 Euro cent | 25.2 | 10/23/2009 | |||
0.10% per side | 10% | UK 8:00 - 16:30 | BBA LIBOR EUR Overnight rate at 17:00 New York time | 1 / No Max | 1 Euro cent | 987.2 | 10/23/2009 | |||
0.10% per side | 10% | 09:00 - 17:00 CET | BBA DKK LIBOR Spot Next rate at 17:00 New York time | 1 / No Max | 0.01 of 1 Danish Krone | 368 | 10/23/2009 | |||
0.10% per side | 10% | 10:00 - 18:20 Helsinki time | BBA LIBOR EUR Overnight rate at 17:00 New York time | 1 / No Max | 1 Euro cent | 22.22 | 10/23/2009 | |||
0.10% per side | 10% | UK 8:00 - 16:30 | BBA LIBOR EUR Overnight rate at 17:00 New York time | 1 / No Max | 1 Euro cent | 2340.5 | 10/23/2009 | |||
0.10% per side | 10% | UK 8:00 - 16:30 | BBA LIBOR EUR Overnight rate at 17:00 New York time | 1 / No Max | 1 Euro cent | 1220.1 | 10/23/2009 | |||
0.30% per side | 10% | 10:00 - 12:30; 14:30 - 16:00 Hong Kong time | HIBOR – Hong Kong Interbank Offer Rate at 17:00 New York time | 1 / No Max | 1 HKD cent | 24.85 | 10/23/2009 | |||
0.25% | 25% | UK 08:00 - 15:30 | BBA LIBOR HUF Overnight rate at 17:00 New York time | 1 / No Max | 1 HUF cent | 9360 | 10/23/2009 | |||
0.10% per side | 10% | UK 8:10 - 16:25 | BBA LIBOR EUR Overnight rate at 17:00 New York time | 1 / No Max | 1 Euro cent | 1832.3 | 10/23/2009 | |||
0.10% per side | 10% | UK 8:00 - 16:30 | BBA LIBOR EUR Overnight rate at 17:00 New York time | 1 / No Max | 1 Euro cent | 1005.5 | 10/23/2009 | |||
0.10% per side | 10% | 09:00 - 17:20 CET | NIBOR one week rate at 17:00 New York time | 1 / No Max | 0.01 of 1 Norwegian Krone | 128.55 | 10/23/2009 | |||
0.25% per side | 25% | 9:00 - 16:10 CET | WIBOR - Warsaw Interbank Offer Rate Overnight at 17:00 New York time | 1 / No Max | 1 Polish grosz | 16.95 | 10/23/2009 | |||
0.10% per side | 10% | 09:00 - 17:30 CET | BBA LIBOR EUR Overnight rate at 17:00 New York time | 1 / No Max | 0.01 of 1 Euro cent | 120.25 | 10/23/2009 | |||
0.25% per side | 10% | 09:00 - 12:30; 14:00 - 1700 Singapore Time | Association of Banks in Singapore SIBOR 1 Month at 17:00 New York time | 1 / No Max | 1 SGD cent | 3.12 | 10/23/2009 | |||
0.45% | 10% | 09:00 - 17:00 Johannesburg time | LIBOR ZAR Overnight rate at 17:00 New York time | 1 / No Max | 1 ZAR (betting per 100 ZAR cent) | 8830 | 10/23/2009 | |||
0.10% per side | 10% | UK 8:00 - 16:30 | BBA LIBOR EUR Overnight rate at 17:00 New York time | 1 / No Max | 1 Euro cent | 2020.2 | 10/23/2009 | |||
0.10% per side | 10% | 09:00 - 17:20 CET | Stockholm Interbank Offer Tom/Next rate at 17:00 New York time | 1 / No Max | 0.01 of one Swedish Krona | 1.79 | 10/23/2009 | |||
0.10% | 10% | UK 08:00 - 16:30; | BBA CHF LIBOR Spot Next rate at 17:00 New York time | 1 / No Max | 1 centime | 20.53 | 10/23/2009 | |||
0.10% per side | (UK 350 10%) (AIM 25%) | UK 8:00 - 16:30 | BBA GBP LIBOR Overnight rate at 17:00 New York time | 1 / No Max | 1 pence | 250.5 | 10/23/2009 | |||
| US Equities Offerings | ||||||||||
2.95 cents per side | 10% | UK 14:30 - 21:00 | BBA USD LIBOR Overnight rate at 17:00 New York time | 1 / No Max | 1 US cent | 12005.5 | 10/23/2009 | |||
2.95 cents per side | 10% | UK 14:30 - 21:00 | BBA USD LIBOR Overnight rate at 17:00 New York time | 1 / No Max | 1 US cent | 3559.6 | 10/23/2009 | |||
2.95 cents per side | 10% | UK 14:30 - 21:00 | BBA USD LIBOR Overnight rate at 17:00 New York time | 1 / No Max | 1 US cent | 5897.6 | 10/23/2009 | |||
| ADRs and ETFs | ||||||||||
US Depository Receipts and Exchange Traded Funds (ADRs and ETFs) | 2.95 US cents per side | VARIABLE - please contact Trading Desk for details | UK 14:30 - 21:00; | BBA USD LIBOR Overnight rate at 17:00 New York time | 1 / No Max | 1 US cent | 28.64 | 10/23/2009 | ||
† 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
Spreads
The Accendo Financial Markets spread is added to the underlying market bid/offer spread and may vary according to the liquidity available in the underlying market.
Please note that market spreads can vary significantly, particularly at the start and end of a trading day.
Minimum / Maximum Bet Sizes
The values shown are indicative; maximum bet sizes will vary from equity to equity, according to underlying liquidity and, in the case of UK shares, “Normal Market Size”.
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.
Rollovers
All rollovers and associated finance adjustments are carried out at or after 10pm London time. For examples on how the rollover process is applied, please see Examples.
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As you hold a position overnight (i.e. after 22:00 UK time), a +/- 3% finance adjustment is made to your account shortly after the stock market closes. This is calculated as follows:
f = (s x p x r) / d where f = daily financing charge s = your stake p = closing price as determined by Accendo Financial Markets 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) rolling bet positions are debited the daily financing charge Short (sell) rolling bet positions are credited the daily financing charge |
Dividends
Current rates of dividend adjustments are as follows:
| UK Shares: | Buy trades are credited with 90% of the gross dividend Sell trades are debited 100% of the gross dividend |
| US Shares: | Buy trades are credited with 85% of the gross dividend Sell trades are debited with 100% of the gross dividend |
| Euro (non-UK) Shares: | Buy trades – amounts vary from country to country Sell trades are debited with 100% of the gross dividend |
Short-Selling
Restrictions may be imposed on short-selling if for example the underlying stock is subject to a lack of liquidity.
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.
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.