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Interest rates

Take a position on the future short-term (quarterly) direction
of a range of global interest rates

When might you trade on interest rates?

  • To back your judgement on future changes in short-term interest rates
  • To hedge against other investments affected by interest rates, such as mortgage repayments


  • Choose from a broad selection of global money markets

  • Spreads from just 1 point

  • Make informed decisions with Reuters news

Interest rates product details

Interest rates

Contract and
dealing hours
(local time)

Value of one
contract (per 
index point)


Guaranteed stop premium[2]

(per contract)[3]



US 30-day Fed Funds Rate






Aus 30-day Interbank Rate Chicago 17.14-07.00; 08.34-16.30 AUD25 1.6 2 20%


Euribor London 01.00-21.00 €25 1 2 20% 0.23%
Eurodollar Chicago 23.00-22.00 $25 1.6 2 20% 0.27%
Euroswiss London 07.30-18.00 CHF25 1 2 20% 0.23%
Euroyen Singapore 00.45-12.00 (London time) JPY2500 3 3 20% 0.9%
Sterling Deposit / Short Sterling London 07.30-18.00 £12.50 1 2 20% 0.23%

Expiry details

Market name


Last trading

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 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)


Our interest rates markets are based on underlying futures. We offer mini versions of interest rate futures contracts at 20% of the main contract size and margin requirement.

1. a) CFDs on interest rate 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.

2. For guaranteed stop bets a guaranteed stop premium is charged if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and will form part of your margin when you attach the stop.

3. 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. See our margins page for more details.

4. Professional clients are exempt from regulatory limits on leverage in place for retail clients, and are able to trade on lower margins as a result. You can find out more, and check your eligibility, on our professional trading page.

5. 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%.

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.

Learn more about CFDs and their potential risks

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.