Trading Conditions
Index CFDs
Index CFDs are over-the-counter products where the price is established by Jarvis. Index CFDs aim to reflect the fair value of the underlying index but the actual bid and ask price may differ slightly from the actual index level.
Index CFD spreads
Index CFDs are traded on the index level with the following bid/ask spreads:
| Stock Index | Spread |
|---|---|
| S&P 500 Index | 1 index point |
| NASDAQ 100 Stock Index | 1 index point |
| Dow Jones Industrial Average | 4 index points |
| FTSE 100 Index | 1 index points |
| DAX ®30 Performance Index | 2 index points |
| CAC 40 Index | 2 index points |
| Dow Jones Euro STOXX 50 Index | 2 index points |
| Swiss Market Index | 3 index points |
| ASX S&P 200 Index | 4 index points |
| Nikkei 225 | 12 index points |
| OMX Stockholm 30 Index | 0.65 index point |
DAX ®30 is a registered trademark of Deutsche Borse AG.
Index CFD Margin Requirements
For index CFDs, you must maintain a minimum of 5% of the investment value in your account to cover your CFD exposure at all times.
CFD Interest and Accrual Rates
If you hold a CFD after the stock market closes, you are subject to a financing fee or accrual:
- When you buy a CFD, you are subject to a financing charge at the Inter-Bank Offer Rate for the currency in which the share is traded (e.g. LIBOR plus 3%)
- When you short sell a CFD, you receive an interest accrual at the Inter-Bank Bid Rate for the currency in which the share is traded (e.g. LIBID minus 3%)
If you open and close a CFD position within one trading day, you are not subject to these charges or accruals.
Currency Conversions
Currency conversions of trading costs as well as profits and losses from trading activities are done using the prevailing close rate as of 17:00 New York Time, plus/minus 0.5%.
Interest on Short Index CFD Positions
Interest will not be paid on short Index CFD Positions. Interest will only be applied to long CFD positions.