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What are IG's bonds CFD product details?

Open an account with us to start trading bonds today. You’ll get access to a comprehensive selection of global government bonds, with off-exchange contracts that enable you to deal in fractions of contracts.

  • Futures
  • Spot
  • Expiry details
  • Notes

Contract and dealing hours
(Sydney time)

Value of one contract
(per index point)

Contract spread [2]

Limited risk
premium

Retail margin requirement
(per contract)

Professional margin requirement (per contract)

German Bobl
Frankfurt
18.00-08.00

€10

2*

3

0.75%

0.60%

German Bund
Frankfurt
18.00-08.00

€10

2*

5

0.50%

0.40%

German Buxl
Frankfurt
18.00-08.00

€10

2*

3

1.50%

1.20%

German Schatz
Frankfurt
18.00-08.00

€10

1*

4

0.25%

0.20%

OAT French Government Bond
Frankfurt
18.00-05.00

€10

4*

4

1.00%

0.80%

Long-term BTP Italian Government Bond
Frankfurt
18.00-05.00

€10

4*

N/A

1.00%

0.80%

Japanese Government Bond
Tokyo
10.45-13.00
14.30-17.00
17.30-20.10
21.30-04.00

JPY10,000

5*

4

0.75%

0.60%

Long-term Gilt
London
19.00-05.00

£10

2*

3

0.50%

0.40%

Short-term Gilt (2-year)
London
19.00-05.00

£10

1.4*

3

0.50%

0.40%

Ultra Treasury Bond (Decimalised)
Chicago
10.00-09.00

$10

4

8

0.50%

0.40%

Treasury Bond (Decimalised)
Chicago
10.00-09.00

$10

4

8

0.50%

0.405

2-yr T-Note (Decimalised)
Chicago
10.00-09.00

$10

2

8

0.30%

0.24%

5-yr T-Note (Decimalised)
Chicago
10.00-09.00

$10

2

8

0.50%

0.40%

10-yr T-Note (Decimalised)
Chicago
10.00-09.00

$10

4

8

0.50%

0.40%

Bonds information table

Contract

Value of one contract (per index point)

Contract spread[2]

Limited risk premium

Retail margin requirement (per contract)

Professional margin requirement (per contract)

German Bund

€10

1.5*

5

0.50%

0.40%

US Dollar Basket

$10

5

10

0.50%

0.40%

Market name

Contract months

Last trading day (3)

German BOBL

Mar, Jun, Sep, Dec

Third business day before the 10th of the month

German Bund

Mar, Jun, Sep, Dec

Third business day before the 10th of the month

German BUXL

Mar, Jun, Sep, Dec

Third business day before the 10th of the month

German Schatz

Mar, Jun, Sep, Dec

Third business day before the 10th of the month

OAT French Government Bond

Mar, Jun, Sep, Dec

Third business day before the 10th of the month

Long-term BTP Italian Government Bond

Mar, Jun, Sep, Dec

Third business day before the 10th of the month

Japanese Government Bond

Mar, Jun, Sep, Dec

Usually the 6th Tokyo bus. day prior to 20th calendar day of month at 15.00 JST

Long-term Gilt

Mar, Jun, Sep, Dec

Third last trading day of previous month

Short-term Gilt
(2-year)

Mar, Jun, Sep, Dec

Third last trading day of previous month

Ultra Treasury Bond (Decimalised)

Mar, Jun, Sep, Dec

Third last business day of previous month

Treasury Bond (Decimalised)

Mar, Jun, Sep, Dec

Third last business day of previous month

2-yr T-Note (Decimalised)

Mar, Jun, Sep, Dec

Third last business day of previous month

5-yr T-Note (Decimalised)

Mar, Jun, Sep, Dec

Third last business day of previous month

10-yr T-Note (Decimalised)

Mar, Jun, Sep, Dec

Third last business day of previous month

 

All the instruments described on this site are Contracts For Difference (CFDs). Our Bonds give you exposure to changes in the value of interest rates and bond prices 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 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.

2. a) CFDs on bond futures are quoted with reference to the equivalent expiry contract on the underlying futures market. We do not apply any weighting or biases to our pricing sources.

b) Spreads are subject to variation, especially in volatile market conditions. Our dealing spreads may change to reflect the available liquidity during different times of day. Our normal spread is shown in the table.

c) Dealing spreads may be offered as a fixed or variable amount. If variable spreads are in use, then the spread shown in this table is the amount of IG spread added to the underlying futures market spread. Any variable dealing spreads are marked with an asterisk (*).

d) We will not charge any additional commission unless we notify you in writing.

3. Positions not already closed by the client expire automatically on the following basis, plus IG spread:

  • Bund, Bobl Buxl and Schatz at the Final Settlement Price of the relevant futures contract as determined by Eurex at 12.30 (Central European Time) on the last dealing day.
  • Long Gilt based on the final settlement price of the LIFFE Long Gilt Future on the third last business day of the previous month.
  • Japanese 10-year Government Bond at the final settlement price of the 10-year mini JGB futures as reported by SGX on the last trading day.
  • 3-month Canadian Bankers' Acceptance Future based on the official closing price of the Canadian Banking Acceptance Future as reported by the Montreal Exchange.
  • Medium Term Gilt (5-year) based on the final settlement price of the LIFFE Medium Gilt Future on the third last business day of the previous month.
  • Short Term Gilt (2-year) based on the final settlement price of the LIFFE Short Gilt Future on the third last business day of the previous month.
     

4. 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.

5. The Decimalised T-Bond is quoted in hundredths of a full Treasury Bond point (in the underlying market, T-Bonds are quoted in fractions of 1/32 of a full point) i.e., 10925 is equivalent to 109-08 in the underlying and vice versa. One contract is the equivalent of $10 per hundredth of a full point. The Decimalised T-Bond can be dealt online and is settled to the nearest 1/100th of a point (calculated by converting settlement provided by CBOT to decimal form). Contracts for T-Bonds expressed in the fractional form can only be traded by telephone.

6. 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.

7. For a position with an attached non-guaranteed stoploss order, the deposit requirement is calculated using the distance between the opening level of the position and the stop level and adding a factor for 'slippage'. The 'slippage' factor is calculated as 20 percent of the underlying (Trader) margin requirement. The deposit requirement for positions with non-guaranteed stops will not exceed the deposit required for positions without a stoploss.

8. Please note that Tiered Margining applies; this means that higher margins may be required for large positions. Margin requirements represent a percentage of the overall position value, and can vary depending on which account type you hold. Where 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.

9. For limited-risk transactions, a limited-risk premium is charged if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and can form part of your margin when you attach the stop. Please note that premiums are subject to change, especially going into weekends and during volatile market conditions.

10. Overnight funding for bonds is based on the market cost of carry including an admin fee of 2.5% per annum.

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