CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

# How is funding on leveraged share positions calculated?

### Shares funding

Size for CFDs means number of shares.

Closing price refers to the underlying market price when the market closes.

Size × closing price × (2.5% +/- 1 month SORA) ÷ 365

If you bought 1000 shares of Keppel Corp Ltd worth 8.88, with SORA at 0.68%, you pay:

1000 x 8.88 x (2.5% + 0.68%) ÷ 365 = SGD 0.77 per day

If you sold 1000 shares of Keppel Corp Ltd worth 8.88, with SORA at 0.68%, you pay:

1000 x 8.88 x (2.5% - 0.68%) ÷ 365 = SGD 0.44 per day, plus a borrowing charge of

1000 x 8.88 x 0.5% ÷ 365 = SGD 0.12 per day

The borrowing charge will depend on which share you trade and you can contact us to enquire further.

If underlying instrument currency is GBP

Size × closing price × (2.5% +/- SONIA)÷ 365

Based on one-month SONIA

If underlying instrument currency is USD

Size × closing price × (2.5% +/– SOFR) ÷ 360

If underlying instrument currency is EUR

Size × closing price × (2.5% +/– ESTR) ÷ 360

The formula uses a 365-day divisor for UK, Singapore and South African shares, and a 360-day divisor for shares in other markets.

To find out more about the IBOR transition