Contract Details - Stock Index CFDs

Our Stock Indices are based on the cash price of the underlying index.

Notes to tables

1. We quote an 'all-in' spread that includes both dealing spread and market spread. Dealing spreads are subject to variation, especially in volatile market conditions. Wider spreads apply when stock indices are quoted outside normal market hours; these are shown in brackets. In-hours spreads apply from 8:30 to 17:30
   
   
2. For Limited Risk transactions, a Limited Risk premium is charged on the opening.
   
   
3. The minimum transaction size is one contract.
   
   
4. 24-hour dealing starts at 23.00 (London time) on Sunday and finishes at 22.00 (London time) on the following Friday. Please contact us for specific information about public holidays.
   
   
5. Limited Risk positions are closed if the bid or offer price (bid price for long positions, offer for short positions) reaches the selected stop level. There may be nothing against which to measure our quotation, particularly at times when the underlying market is closed.
   
   Our quotations, especially at such times, reflect our own view of the prospects for a market. Furthermore, business done by other clients may itself affect our quotations. If a price reaches one client's Limited Risk stop level, so that, for example, he sells to close a position, that sale may itself push our quotation down to a level at which another client's Limited Risk position has to be closed.
   
   
6. For each day a position is held adjustments are calculated to reflect the effect of interest and dividends.
   
   
   
   1. Interest adjustments are calculated as follows:
      
      D = n x L x C x i / 360
      
      Where:
       D = daily interest adjustment
       n = number of lots
       L = lot size
       C = current index price
       i = applicable annual interest rate
      
      Interest in respect of long positions is debited from a client's account and interest in respect of short positions is credited to a client's account at rates which are agreed with each client.
      
      
   2. A dividend adjustment is applied when a component share passes its ex-dividend date (including the ex-date of any special dividend) in the underlying stock market. In the case of long positions, the dividend adjustment is credited to the client's account. In the case of short positions, the dividend adjustment is debited from the client's account.