Interest rates CFD details

The tables below are the contract details for the interest rate CFDs we offer.

Our CFDs offer exposure to interest rates from around the world. All our contracts expire at a specified future date; we quote our own bid/offer spread that is based on the underlying rate. We offer mini versions of interest rate futures contracts at 20% of the main contract size and margin requirement.

Interest rates

Contract and trading hours
(local time)
Value of one contract
(per index point)
Normal contract spread Mini contract spread Limited risk
premium
Margin requirement
(per contract)
Aus 30-day Interbank Rate
Chicago
17.14-07.00;
08.34-16.30
AUD25 1 1.2 2 AUD600
Euribor
London
01.00-21.00
€25 1 1.2 2 €625
Eurodollar
Chicago
23.00-22.00
$25 2 2.4 2 $625
Euroswiss
London
07.30-18.00
CHF25 1 1.2 2 CHF625
Euroyen
Singapore
00.45-12.00 (London time)
JPY2500 3 3.6 3 JPY62,500
Sterling Deposit / Short Sterling
London
07.30-18.00
£12.50 1 1.2 2 £313

 

Expiry details

Market name Contract months Last trading day [3]
Aus 30-day
Interbank Rate
All months Last business day of the month
Euribor Mar, Jun, Sep, Dec Two business days prior to the third Wednesday of contract month
Eurodollar Mar, Jun, Sep, Dec Second business day prior to the third Wednesday of contract month
Euroswiss Mar, Jun, Sep, Dec Two business days prior to the third Wednesday of contract month at 11.00 (London time)
Euroyen Mar, Jun, Sep, Dec Two Singapore business days preceding the 3rd Wednesday of the contract month
Sterling Deposit Mar, Jun, Sep, Dec Third Wednesday of contract month at 11.00 (London time)

Notes

All the instruments described on this site are Contracts for Difference (CFDs). Our rates give you exposure to changes in the value of interest rates but they are cash settled and cannot result in the delivery of any commodity or instrument.

1. We will quote an 'all-in' spread that includes both dealing spread and market spread. The sizes 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.

2. For limited risk transactions, a limited risk premium is charged on the opening.

3. Positions not already closed by the client expire automatically on the following basis:

  • Eurodollar at the final settlement price of the 90-day Eurodollar futures on CME on the last dealing day.
  • Sterling Deposit and Euribor based on the EDSP of the relevant futures contract on LIFFE on the last dealing day.
  • Euroyen based on the final settlement price of Euroyen futures as reported by SGX.
  • Euroswiss based on the EDSP of Euroswiss futures on LIFFE. The EDSP is calculated as 100 minus the BBA Libor for 3-month Euroswiss Franc deposits at 11.00 on the last trading day.
  • Australian 30-day Interbank Rate using the monthly average of the Interbank overnight cash rate, as published by the RBA, divided by the number of days for the month and rounded to the nearest 0.001%.

4. For most positions, you 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 you shortly before a position is due to expire and offer the opportunity to roll the position over. However, we cannot undertake to do this in every case and it remains your responsibility to give instructions, if you so wish, to roll the position over before it expires.

5. 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 trading platform.

6. Margin requirements represent a percentage of the overall position value, and can vary depending on which account type you hold. If two values are listed, the first value applies to Trader Accounts and the second to Select Accounts. You can find the applicable tiered margins from the 'Get Info' dropdown section within each market in the trading platform. Please note that higher margins may be required for large positions.

Normal contract spread

Normal contract spread

This is our all-in spread, including the market spread, our own spread and the cost of overnight funding. Because the market spread changes with volatility, this means the quoted spread is variable. This spread is applicable to our normal contract sizes, rather than mini contracts.

Mini contract spread

Mini contract spread

This is our all-in spread, including the market spread, our own spread and the cost of overnight funding. Because the market spread changes with volatility, this means the quoted spread is variable. This spread is applicable to our mini contracts, which generally have wider spreads than our normal contract sizes.

Limited risk premium

Limited risk premium

Positions using a guaranteed stop have a strictly limited maximum loss. A small premium is incurred when placing this type of position.

Types of CFD

Types of CFD

All our interest rate markets are available as CFD futures. All have a fixed expiry date. 

Margin requirement

Margin requirement

Margin requirement is the amount required to cover any potential losses from open positions. These are tiered and dependent on the size of your aggregate position.