What are IG's bonds spread bet 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.

Download all margin for bonds spread betting here:

Interest Rate Spread Betting Margin Tiers (Retail) (959KB)

Interest Rate Spread Betting Margin Tiers (Professional) (746KB)

Get live bonds prices, search for your market and find out more about trading bonds with IG on our spread betting and CFD website.

We quote our own bid/offer spread that is based on the underlying bond price. We offer mini versions of bonds future contracts at 20% of the main contract size and margin requirement.

  • Futures
  • Spot
  • Expiry details
  • Notes

Notes in [square brackets] are detailed in the 'Notes' tab.

Market name & dealing hours [5]

One point means

Bet size equivalent to one contract

Minimum bet

Our spread [2]

Guaranteed
stop premium [4]

Retail margin factor [8]

Professional margin factor [9]

German Bobl
07.00-21.00
0.01 €10 £2 2* 3 20% 0.60%
German Bund
07.00-21.00
0.01 €10 £2 2* 5 20% 0.45%
German Buxl
07.00-21.00
0.01 €10 £2 2* 3 20% 1.35%
German Schatz
07.00-21.00
0.01 €10 £2 1* 4 20% 0.68%
OAT French Government Bond
07.00-18.00
0.01 €10 £2 4* 4 20% 0.9%
Long-term BTP Italian Government Bond
07.00-18.00
0.01 €10 £2 4* n/a 20% 0.9%
Short-term BTP Italian Government Bond
07.00-18.00
0.01 €10 £2 4* n/a 20% 0.9%
Japanese 10-year Government Bond
08.45-11.00
12.30-15.00
15.30-18.10
19.30-03.00
(Tokyo time)
0.01 JPY 10,000 £2 5* 4 20% 0.45%
Long-term Gilt
08.00-18.00
0.01 £10 £2 2* 3 20% 0.45%
Short-term Gilt
08.00-18.00
0.01 £10 £2 1.4* 3 no longer offered no longer offered
Ultra Treasury Bond (Decimalised)
23.30-22.00
0.01 [6] $10 £2 4 8 no longer offered no longer offered
Treasury Bond (Decimalised)
23.30-22.00
0.01 [6] $10 £2 4 8 0.45% 0.50%
Treasury Note (2-year Decimalised)
23.30-22.00
0.01 [6] $10 £2 2 8 20% 0.45%
Treasury Note (5-year Decimalised)
23.00-22.00
0.01 [7] $10 £2 2 8 20% 0.45%
Treasury Note (10-year Decimalised)
23.30-22.00
0.01 [7] $10 £2 4 8 20% 0.45%

Bonds information table

Market name

One point means

Bet size equivalent to one contract

Minimum bet

Guaranteed
stop premium[4]

Retail margin factor [8]

Professional
margin factor [9]

German Bund 0.01 €10 £2 2 5 20% 0.45%
US Dollar Basket 0.01 $10 £2 5 10 20%
 
0.45%

Market name
[5]

Contract months

Last dealing day
[1][3]

German Bobl Mar, Jun, Sep, Dec 3rd bus. day before the 10th of the month
German Bund Mar, Jun, Sep, Dec 3rd bus. day before the 10th of the month
German Buxl Mar, Jun, Sep, Dec 3rd bus. day before the 10th of the month
German Schatz Mar, Jun, Sep, Dec 3rd bus. day before the 10th of the month
OAT French Government Bond Mar, Jun, Sep, Dec 3rd bus. day before the 10th of the month
Long-term BTP Italian Government Bond Mar, Jun, Sep, Dec 3rd bus. day before the 10th of the month
Japanese 10-year Government Bond Mar, Jun, Sep, Dec Usually the 6th Tokyo bus. day prior to 20th calendar day of month at 15.00 JST
Long Gilt (6%) Mar, Jun, Sep, Dec Third last bus. day of previous month
Medium-term Gilt Quarterly Third last bus. day of previous month
Short-term Gilt Quarterly Third last bus. day of previous month
Ultra Treasury Bond (Decimalised) Mar, Jun, Sep, Dec Third last bus. day of previous month
Treasury Bond (decimalised) Mar, Jun, Sep, Dec Third last bus. day of previous month
Treasury Note (2-year decimalised) Mar, Jun, Sep, Dec Third last bus. day of previous month
Treasury Note (5-year decimalised) Mar, Jun, Sep, Dec Third last bus. day of previous month
Treasury Note (10-year decimalised) Mar, Jun, Sep, Dec Third last bus. day of previous month

 

1. Unless expressly agreed otherwise with IG, positions will be rolled over to a later date by default. For most positions, a client can, before the position has been automatically closed, ask for the position not 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 the client 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 communicate their roll preferences for any position(s) before it expires.

Where a client has agreed with IG to expire a position, it will do so on or after the last dealing day on the basis set out below plus or minus half our spread:

a) Eurodollar at the final settlement price of 90-day Eurodollar futures on CME on the IG last trading day. This settlement price is based on the BBA Interest Settlement Rate.

b) Sterling Deposit based on the Exchange Delivery Settlement Price (EDSP) of the Short Sterling futures on LIFFE. The EDSP is calculated 100 minus the BBA Libor for 3-month sterling deposits at 11.00 on the last trading day.

c) Euribor based on the EDSP of EURIBOR futures on LIFFE. The EDSP is calculated as 100 minus the EBF Euribor Offered Rate for 3-month Euro deposits at 11.00 Brussels time on the last trading day.

d) Euroswiss based on the EDSP of Euroswiss futures on LIFFE. The EDSP is calculated as 100 minus the BBA Libor for 3-month Swiss Franc deposits at 11.00 on the last trading day.

e) Euroyen based on the Final Settlement Price of Euroyen futures as reported by SGX.

f) Treasury Bonds and Treasury Notes base the official closing price on the IG last trading day of the relevant futures contract as reported by CBOT.

g) Long Gilts base the official closing price of the LIFFE Long Gilt futures contract on our last dealing day.

h) German Bund, Bobl, Buxl, Schatz, OAT French Government Bond and Long-Term BTP Italian Government Bond at the Final Settlement Price of the relevant futures contract as determined by Eurex at 17.15 CET on the last trading day.

i) 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.

j) Australian 30-Day Interbank Rate settles based the SFE Final Settlement Price of the 30-day Interbank Cash Rate Future on the last business day of the month.

k) Short Term Gilt settles based on the final settlement price of the LIFFE Short Term Gilt future on the third last business day of the previous month.

2. a) Spread bets 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 (*).

3 The last dealing day shown in these bet details does not always coincide with the last trading day of the relevant exchange. This is because contracts can become illiquid as they approach expiry and market spreads can
widen considerably.

4. For guaranteed stop premium bets a guaranteed stop 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.

5. Market opening times are given in London time, unless otherwise indicated. Please note that actual trading times are governed by local time in the country of the interest rate or bond’s origin. Consequently, seasonal time adjustments (such as daylight saving) either in the UK or in the country of origin may cause the times shown to be imprecise.

6. The underlying futures market trades in fractional format. Our quotation in Treasury Bond/Note Decimalised is presented in hundredths of a full Treasury Bond/Note point. So 11325 is the equivalent of 113-08, because 113-08 means 113 and 8/32, or 113 and a quarter of a point. Contracts will be settled to the nearest 1/100th of a point, as calculated from the relevant settlement provided by the CBOT, converted into decimal form.

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

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. You can find the applicable tiered margins from the Get Info dropdown section within each market in the trading platform. See our tiered margining page for more details.

9. 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.

Related questions

Improve your skills

Become a better trader with IG Academy. Take engaging step-by-step courses, attend expert-led seminars and webinars. 

Get peer support

Have your questions answered by like-minded traders and IG staff over at IG Community.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.