Binary Trading Contract Details

Binaries: Forex & Commodities Information Table

Notes on Binaries: Forex & Commodities Information Table

Binaries are cash settled and cannot be exercised by or against you or result in delivery of the underlying security.

• The price quotation for each Binary is expressed in points. If the outcome described by the Binary occurs, that Binary will settle at 100. If it does not occur, the Binary will settle at zero.
• The margin required for a Binary or collection of Binary on a given market will be equal to the maximum potential loss from that Binary or collection of Binary.
• 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.
• Market prices or net change values shown in the change column of our trading platform are indicative only. Binary options trades will settle as outlined in the Contract Details.

1. The dealing spread will vary according to the level of the price quotation and the time to expiry. Spreads may widen substantially in the last 15 minutes of trading, and some Binaries may trade on spreads as much as 20 points during this period.
2. For the purpose of Binaries, all spot rates will be rounded to the nearest pip and commodity settlement prices will be rounded to the same number of decimal places as the relevant reporting exchange. If a market settles exactly on a Binary barrier after such rounding, that market will be taken to have settled above the barrier for the purposes of settlement. For example, if the spot price of Euro/US dollar finished exactly unchanged from the previous settlement, Euro/US dollar to rise will settle at 100 and Euro/US dollar to fall will settle at zero.
3. Currency Binaries (except OneTouch Binary Options) settle basis the achievement of specified price changes in the spot rate concerned at each of our following expiry times: 00:00, 04:00, 08:00, 12:00, 16:00 & 20.00 London time each day. The level used for settlement will be the first print recorded by Bloomberg (E&OE) at each of the six expiry times for the relevant currency pair. Daily FX One Touch levels are measured by reference to trades recorded by Bloomberg between 21:00 and 20:00 (London time).
   Monthly FX OneTouch levels are measured by reference to trades recorded by Bloomberg between the start of the month and 16.00 (London time) on the last business day of the month (E&OE). Weekly FX Ladders settle based on Bloomberg's first price at/after 20:00 (London time) each Friday, market holidays permitting.
4. Daily US Crude OneTouch settles basis the achievement of specified price levels as recorded by Bloomberg. OneTouch levels are measured by reference to trades recorded by Bloomberg at any time between 08.00 and the first new print at 19.30 London time. The trade settles at 100 if Bloomberg prints the OneTouch level between these times. Official expiry does not count.
5. Gold Binaries are normally quoted until 5 minutes before the close of the Gold futures on COMEX. The closing time of the COMEX Gold futures is normally 13.30 New York time. Binaries are closed basis the official daily settlement price of the Gold futures as reported by COMEX.
6. Silver Binaries are normally quoted until 5 minutes before the close of the Silver futures on COMEX. The closing time of the COMEX Silver futures is normally 13.25 New York time. Binaries are closed basis the official daily settlement price of the Silver futures as reported by COMEX.

Binaries: Indices Information Table

Notes on Binaries: Indices Information Table

Binaries are cash settled and cannot be exercised by or against you or result in delivery of the underlying security.

• The price quotation for each Binary is expressed in points. If the outcome described by the Binary occurs, that Binary will settle at 100. If it does not occur, the Binary will settle at zero.
• The deposit required for a Binary or collection of Binaries on a given market will be equal to the maximum potential loss from that Binary or collection of Binaries.
• 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.
• All non-daily markets and Daily FX quotations are based on our internally specified opening level and the official expiry level as reported by Bloomberg (E&OE).
• Market prices or net change values shown in the change column of our trading platform are indicative only. Binary options trades will settle as outlined in the Contract Details.

1. Trading times shown in the table are local times, unless otherwise specified. Times in the names of trades (such as 'Wall Street: 18.00 Targets') are London time apart from Australia 200 Binaries, where the time is Australian Eastern Standard Time.
2. The dealing spread will vary according to the level of the price quotation and the time to expiry. Spreads may widen substantially in the last 15 minutes of trading, and some Binaries may trade on spreads as much as 20 points during this period.
3. For the purpose of Binaries, the FTSE^®, Wall Street, US Tech 100, US SPX500, Germany 30 and Japan 225 prices will be rounded to two decimal places. Singapore Blue Chip and Australia 200 prices will be rounded to one decimal place. Hong Kong HS42 and Taiwan All-Share prices will be rounded to the nearest whole number. If a market settles exactly on a Binary barrier after such rounding, that market will be taken to have settled above the barrier for the purposes of settlement. For example, if Wall Street closes exactly 20 points down, the Wall Street to finish down 0-20pts will settle at 100, and Wall Street to finish down 20-40pts will settle at 0.
4. Singapore Blue Chip Binaries are settled basis the official daily settlement price of the SGX MSCI Singapore Index futures on the Singapore Futures Exchange (SGX), as published by Bloomberg (E&OE). Trades are normally accepted until ten minutes before the close of the SGX MSCI Singapore Index futures on SGX. The closing time for the SGX MSCI Singapore Index futures is normally 17.15 Singapore time.
5. The ASX 200 index usually closes at 16.00 Sydney time. Australia 200 trades will be settled basis the official settlement of this underlying index. This settlement is usually announced approximately 15 minutes after the close of the market and may differ from the market level showing at 16.00 Sydney time.
6. Hourly Australia 200 Binaries settle on the basis of the achievement of price changes in the cash level of the ASX 200 from our internally specified opening level to the first new print recorded by Bloomberg (E&OE) at the second named time. For Australia 200 previous close to 11.00am the change is measured from the official settlement in the previous day's underlying market to the first new print recorded at 11.00am Sydney time. All times for Australia 200 Hourly Binaries are Sydney times. Trades will be accepted until 1 minute before the second named hour. Trading for the following day begins 5 minutes after the second named hour. There is a gap where trades will not be accepted that starts 2 minutes before, and finishes 3 minutes after, the first named hour.
   The final hourly binary (3pm-4pm AEST) settles basis the official settlement price of the ASX 200 as detailed in note 5.
7. 1pm Australia 200 Binaries settle basis the achievement of price changes in the cash ASX 200 index from the starting level displayed by IG online, to the first new print recorded by Bloomberg (E&OE) at 13.00 (Sydney time).
8. Daily Wall Street Binaries are quoted from one hour after the previous close until one minute before the next close of the underlying market. The underlying market normally closes at 16.00 (New York time). Note that all trades will be closed basis the official daily settlement. This settlement may not be posted until several minutes after the close of normal trading each day, and can differ from the 16.00 price of the underlying index.
9. 18.00 Wall Street Binaries settle basis the achievement of price changes in the cash level of Wall Street from the starting level displayed by IG online, to the first new print recorded by Bloomberg (E&OE) at 18.00 (London time). Trades will be accepted from one hour after the closing of the underlying market of the previous trading day until one minute before expiry.
10. Hourly Wall Street Binaries settle the basis of achievement of price changes in the cash level of Wall Street from our internally specified opening level to the first new print recorded by Bloomberg (E&OE) at the second named time. For Wall Street previous close to 3.30pm the change is measured from the official settlement in the previous day's market to the first new print recorded at 10.30am London time. All times for Hourly Binaries are London times. Trades will be accepted until one minute before the second named hour. Trading for the following day begins five minutes after the second named hour. For Wall Street previous close to 10.30am, there is a 45-minute break in quoting, where trades will not be accepted, starting from the close of the underlying market. For all other Hourly Binaries there is a gap where trades will not be accepted that starts 2 minutes before, and finishes 3 minutes after, the first named hour.
11. Daily Netherlands 25 and Daily Netherlands 25 Ladder: From 09.05 (local time) until five minutes before the close of the underlying market. The closing time for the AEX 25 is normally 17.30. Note that trades will be settled based upon the official settlement level of the index. This official settlement is not announced until several minutes after the close of the market and may differ from the market's 17.25 level.
12. Weekly Wall Street Binaries are normally quoted from the opening of our UK office on a Sunday night at 23.00 (London time) until one minute before the close of US trading on the last US trading day of the week.
13. Daily US SPX500 Binaries are normally quoted from one hour after the previous close until five minutes before the close of the S&P 500 index. The S&P 500 index normally closes at 16.00 New York time. Note that trades will be settled basis the official settlement level of the index. This official settlement is not announced until several minutes after the close of the market and may differ from the market level showing at 16.00 (New York time).
14. Daily US Tech 100 Binaries are normally quoted from one hour after the previous close until five minutes before the close of the NASDAQ 100 index. The NASDAQ 100 index normally closes at 16.00 New York time. Note that trades will be settled basis the official settlement level of the index. This official settlement is not announced until several minutes after the close of the market and may differ from the market level showing at 16.00 (New York time).
15. Daily FTSE^® Binaries are normally quoted from 30 minutes after the previous close until one minute before the close of the underlying market. The closing time for the FTSE^® is normally 16.30 (London time). Note that, although the UK market typically closes at 16.30, all Binaries will be closed basis the official daily settlement, which is in turn dependent upon the daily closing auction. This official settlement price is typically made public around five minutes after the close of normal trading each day, and can differ from the 16.30 price of the underlying index.
16. Hourly Japan 225 Binaries settle the basis of achievement of price changes in the cash level of Nikkei 225 from our internally specified opening level to the first new print recorded by Bloomberg (E&OE) at the second named time. For Japan 225 previous close to 10.00 the change is measured from the official settlement in the previous day's market to the first new print recorded at 10.00 Tokyo time. All times for Japan 225 Hourly Binaries are Tokyo times. Trades will be accepted until one minute before the second named hour. The final hourly binary (2pm-3pm JST) settles basis the official settlement price of the Japan 225 as detailed in note 11.
17. Weekly FTSE^® Binaries are normally quoted from 23.00 (London time) on Sunday evening until one minute before the close of the FTSE^® 100 on the last London trading day of the week.
18. Midday FTSE^® Binaries settle basis the achievement of price changes in the cash FTSE^® from the starting level displayed by IG online, to the first new print recorded by Bloomberg (E&OE) at 12.00 (London time). Trades will be accepted from 17.00 (London time) of the previous trading day until one minute before expiry.
19. 3pm FTSE^® Binaries settle basis the achievement of price changes in the cash FTSE^® from the starting level displayed by IG online, to the first new print recorded by Bloomberg (E&OE) at 15.00 (London time). Trades will be accepted from 17.00 (London time) of the previous trading day until one minute before expiry.
20. Hourly FTSE^® Binaries settle the basis of achievement of price changes in the cash FTSE^® from our internally specified opening level to the first new print recorded by Bloomberg (E&OE) at the second named time. For FTSE^® previous close to 9am the change is measured from the official settlement in the previous day's market to the first new print recorded at 09.00 (London time). All times for Hourly FTSE^® are London times. Trades will be accepted until one minute before the second named hour. Trading for the following day begins five minutes after the second named hour. For FTSE^® previous close to 9am, trades will be accepted from 30 seconds after the opening of the underlying market. The opening time for the FTSE^® is typically 08.00 (London time). For all other Hourly Binaries there is a gap where trades will not be accepted that starts 2 minutes before, and finishes 2 minutes after, the first named hour. Note: Handicap trades on hourly markets will only be accepted during the relevant hour.
21. Daily Germany 30 Binaries are normally quoted from one hour after the previous close until one minute before the close of the underlying market. The underlying market normally closes at 17.30 (Frankfurt time). Trades will be settled basis the official settlement level of the index. This official settlement may not be announced until several minutes after the close of the market and may differ from the market level showing at 17.30 (Frankfurt time). Weekly Germany 30 Futures Ladder: From 07.00 (London time) on the Monday until one minute before the close of German futures trading on the last German trading day of the week in question (normally 20.59 on Friday).
22. Daily France 40 Binaries are normally quoted until one minute before the close of the underlying market. The closing time for the France 40 is normally 17.30 (Paris time). Trades will be settled basis the official settlement level of the index. This official settlement may not be announced until several minutes after the close of the market and may differ from the market level showing at 17.30 (Paris time).
23. Hong Kong HS42 Binaries are normally quoted until two minutes before the close of the Hang Seng Index futures on the Hong Kong Futures Exchange (HKFE). The closing time for the Hang Seng Index futures is normally 16.15 (Hong Kong time). All Binaries will be closed basis the official daily settlement price of the Hang Seng Index futures as reported by HKFE.
24. China H-Shares Binaries are normally quoted until two minutes before the close of the H-Shares China Index futures on the Hong Kong Futures Exchange (HKFE). The closing time for the H-Shares China Index futures is normally 16.15 (Hong Kong / Singapore time). All Binaries will be closed based on the official daily settlement price of the H-Shares China Index futures as reported by HKFE.
    
    China 300 Daily Futures Binaries are normally quoted until two minutes before the close of the CSI300 Index futures on the China Financial Futures Exchange (CFFEX). The closing time for the CSI300 Index futures is normally 15.15 (Singapore time). All Binaries will be closed based on the official daily settlement price (as reported by Bloomberg) of the CSI300 Index Futures traded on the CFFEX.
25. Japan 225 Binaries are based on the achievement of specified daily price changes in the Nikkei 225 Index on the Tokyo Stock Exchange (TSE). All Binary Options are settled basis the official daily settlement price of the Nikkei 225 as reported by the TSE.
26. India 50 Binaries settle basis the first new print recorded by Bloomberg (E&OE) at 15.30 (Bombay time) of the S&P CNX Nifty futures that trade on the National Stock Exchange in India.
27. Japan All-Share Binaries settle basis the official closing price of the TOPIX futures that trade on the Tokyo Stock Exchange. This price is usually posted at or after 15.15 Tokyo time.
28. Daily Italy 40 Binaries are normally quoted from five minutes after the opening of the S&P/MIB Index until five minutes before the close of the index. The underlying market normally opens at 09.00 and closes at 17.25 Milan time. Trades will be settled basis the official settlement level of the S&P/MIB Index. This official settlement may not be announced until several minutes after the close of the market and may differ from the market level showing at 17.25 Milan time.
29. Daily Spain 35 Binaries are normally quoted until one minute before the close of the underlying market. The closing time for the IBEX 35 is normally 17.30 (Madrid time). Trades will be settled basis the official settlement level of the index. This official settlement may not be announced until several minutes after the close of the market and may differ from the market level showing at 17.30 (Madrid time).
30. OneTouch trades settle at 100 if the level of the index specified in the name of the trade is touched at any point up to and including the official market settlement (or the first print of the index at the specified time for 12.00 FTSE^® OneTouch and 18.00 Wall Street OneTouch), prices being as recorded by Bloomberg (E&OE). Please note that the Australia 200 Annual OneTouch expires at the close of business on the last trading day in December.
31. Weekly S&P Futures trades are open for trading from 03.00 (New York time) on the Monday, until one minute before the close of US futures trading on the last US trading day of the week in question (normally 16.14 on Friday).
32. These Binary Options are settled by referencing the day's close against the previous day's close.