Contract Details: Forwards

Our forward contracts expire at specified forward dates. There are no separate funding adjustments: a fair value is priced into our quotation. Spreads may vary to those specified in the contract details.

Note: We offer mini versions of all stock index forward contracts at 20% of the contract size and margin requirement.

Stock Indices (Forwards) Information Table

Index and dealing hours (Local times unless stated) Value of one contract (per index point) Dealing spread ('extended hours' spread follows in brackets if applicable) Limited Risk premium Margin
requirement
Standard Mini
Singapore Blue Chip
24 hours		 SGD200 0.2* (1) 0.3 (1.1) 0.1 5%
US 500
24 hours		 US$250 1 (1.4) 1.2 (1.6) 0.2 5%
Wall Street
24 hours		 US$10 6 (10) 7 (11) 2 5%
US Tech 100
24 hours		 US$100 3 (4) 4 (5) 1 5%
FTSE 100®
24 hours		 £10 4 (8) 5 (9) 1 5%
Germany 30
24 hours		 €25 6 (12) 7 (13) 1 5%
Hong Kong HS42
24 hours		 HK$50 24 (44) 30 (50) 10 5%
China H-Shares
09.15-12.00;
13.00-16.15;
17.00-23.00		 HK$50 12 14 20 5%
Australia 200
24 hours		 A$25 3 (7) 4 (8) 1 5%

* 0.1 either side of the market

Settlement information

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.

US 500

Last dealing day: Third Friday or previous business day of contract month. Settles: At the Special Opening Quotation of the S&P 500. Traded months: March, June, September, December

Wall Street

Last dealing day: 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 Tech 100

Last dealing day: Third Friday or previous business day of contract month. Settles: At the NASDAQ Official Opening Price (NOOP) of the constituent stocks of the index. Traded months: March, June, September, December.

FTSE® 100

Last dealing day: 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.

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.

Hong Kong HS42

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 trading day of the contract month. Traded months: Current liquid month.

Australia 200

Last dealing day: Third Thursday of contract month. On the last dealing day Australia 200 Futures Contracts may be traded up until 12.00 Sydney time.  Settles: At the Special Opening Quotation (SOQ) of the S&P/ASX200 on the last trading day calculated to one decimal place. Traded months: March, June, September, December.

Notes to table

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 Singapore Blue Chip, the in-hour dealing spread is added to the underlying market spread. Out-of-hour spread is a fixed 1 pip.

For the Australia 200, we cannot provide you with a guaranteed spread during the night session (17.10-07.00 Sydney time). We do not seek to profit from increased all-in spreads during these times and we will not increase our dealing spread during this time. We will however pass on any increase in market spread experienced during the night session (up to a maximum of 50 points).

2) For Limited Risk transactions, a Limited Risk premium is charged on the opening.

3) 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.

4) Wall Street, US 500 and US Tech 100 Forwards can be traded until 23.30 (Singapore time) two days before expiry. This means Stop or Limit Orders can be filled until this time.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial investment, so please ensure that you fully understand the risks involved.