Equities
Printer-friendly version
Send to friend
PDF version|
Equity |
AM Financials |
Minimum Commission |
IM Factor |
Basis of Price and Interest Rate used for Finance Adjustments |
AM Financials Trading Hours |
Min/Max Size |
† Tick Factor (per 100 CFDs) |
Currency |
Example Price |
Last Update |
|
Australia |
0.10% |
10 AUD |
5% on some stocks, 10% on others |
BBA AUD LIBOR Spot Next rate at 17:00 New York time |
10:00 |
1 / No Max |
1 AUD cent |
AUD |
2.455 |
23/10/2009 |
|
Austria |
0.10% |
10 EUR |
10% |
BBA LIBOR EUR Overnight rate at 17:00 New York time |
UK 08:00 - 16:30; |
1 / No Max |
1 Euro cent |
EUR |
76.54 |
23/10/2009 |
|
Belgium |
0.10% |
10 EUR |
10% |
BBA LIBOR EUR Overnight rate at 17:00 New York time |
UK 8:00 - 16:30 |
1 / No Max |
1 Euro cent |
EUR |
9.87 |
23/10/2009 |
|
Denmark |
0.10% |
100 DKK |
10% |
BBA DKK LIBOR Spot Next rate at 17:00 New York time |
09:00 - 17:00 CET |
1 / No Max |
0.01 of 1 Danish Krone |
DKK |
368 |
23/10/2009 |
|
Finland |
0.10% |
10 EUR |
10% |
BBA LIBOR EUR Overnight rate at 17:00 New York time |
10:00 - 18:20 Helsinki time |
1 / No Max |
1 Euro cent |
EUR |
22.22 |
23/10/2009 |
|
France |
0.10% |
10 EUR |
10% |
BBA LIBOR EUR Overnight rate at 17:00 New York time |
UK 8:00 - 16:30 |
1 / No Max |
1 Euro cent |
EUR |
23.4 |
23/10/2009 |
|
Germany |
0.10% |
10 EUR |
10% |
BBA LIBOR EUR Overnight rate at 17:00 New York time |
UK 8:00 - 16:30 |
1 / No Max |
1 Euro cent |
EUR |
38.18 |
23/10/2009 |
|
Hong Kong |
0.30% |
25 HKD |
10% |
HIBOR – Hong Kong Interbank Offer Rate at 17:00 New York time |
10:00 - 12:30; 14:30 - 16:00 Hong Kong time |
1 / No Max |
1 HKD cent |
HKD |
24.85 |
23/10/2009 |
|
Hungary |
0.25% |
3500 HUF |
25% |
BBA LIBOR HUF Overnight rate at 17:00 New York time |
UK 08:00 - 15:30 |
1 / No Max |
1 HUF cent |
HUF |
9360 |
23/10/2009 |
|
Italy |
0.10% |
10 EUR |
10% |
BBA LIBOR EUR Overnight rate at 17:00 New York time |
UK 8:10 - 16:25 |
1 / No Max |
1 Euro cent |
EUR |
18.32 |
23/10/2009 |
|
Netherlands |
0.10% |
10 EUR |
10% |
BBA LIBOR EUR Overnight rate at 17:00 New York time |
UK 8:00 - 16:30 |
1 / No Max |
1 Euro cent |
EUR |
10.05 |
23/10/2009 |
|
Norway |
0.10% |
100 NOK |
10% |
NIBOR one week rate at 17:00 New York time |
09:00 - 17:20 CET |
1 / No Max |
0.01 of 1 Norwegian Krone |
NOK |
128.55 |
23/10/2009 |
|
Poland |
0.25% |
50 PLN |
25% |
WIBOR - Warsaw Interbank Offer Rate Overnight at 17:00 New York time |
9:00 - 16:10 CET |
1 / No Max |
1 Polish grosz |
PLN |
16.95 |
13/11/2009 |
|
Portugal |
0.10% |
10 EUR |
10% |
BBA LIBOR EUR Overnight rate at 17:00 New York time |
09:00 - 17:30 CET |
1 / No Max |
0.01 of 1 Euro cent |
EUR |
120.25 |
23/10/2009 |
|
Singapore |
0.25% |
20 SGD |
10% |
Association of Banks in Singapore SIBOR 1 Month at 17:00 New York time |
09:00 - 12:30; 14:00 - 1700 Singapore Time |
1 / No Max |
1 SGD cent |
SGD |
3.12 |
23/10/2009 |
|
South Africa |
0.45% |
150 ZAR |
10% |
BBA LIBOR ZAR Overnight rate at 17:00 New York time |
09:00 - 17:00 Johannesburg time |
1 / No Max |
1 ZAR cent |
ZAR |
8787 |
23/10/2009 |
|
Spain |
0.10% |
10 EUR |
10% |
BBA LIBOR EUR Overnight rate at 17:00 New York time |
UK 8:00 - 16:30 |
1 / No Max |
1 Euro cent |
EUR |
20.22 |
23/10/2009 |
|
Sweden |
0.10% |
100 SEK |
10% |
Stockholm Interbank Offer Tom/Next rate at 17:00 New York time |
09:00 - 17:20 CET |
1 / No Max |
0.01 of one Swedish Krona |
SEK |
1.79 |
23/10/2009 |
|
Switzerland |
0.10% |
15 CHF |
10% |
BBA CHF LIBOR Spot Next rate at 17:00 New York time |
UK 08:00 - 16:30; |
1 / No Max |
1 centime |
CHF |
20.53 |
23/10/2009 |
|
UK |
0.10% |
7 GBP |
(UK 350 10%) (AIM 25%) |
BBA GBP LIBOR Overnight rate at 17:00 New York time |
UK 8:00 - 16:30 |
1 / No Max |
1 pence |
GBp |
250.5 |
02/12/2009 |
| US Equities Offerings | ||||||||||
|
US SPX 500 |
2.95 cents per share |
10 USD |
10% |
BBA USD LIBOR Overnight rate at 17:00 New York time |
UK 14:30 - 21:00 |
1 / No Max |
1 US cent |
USD |
120.05 |
23/10/2009 |
|
US Tech 100 |
2.95 cents per share |
10 USD |
10% |
BBA USD LIBOR Overnight rate at 17:00 New York time |
UK 14:30 - 21:00 |
1 / No Max |
1 US cent |
USD |
35.65 |
23/10/2009 |
|
US Wall Street 30 |
2.95 cents per share |
10 USD |
10% |
BBA USD LIBOR Overnight rate at 17:00 New York time |
UK 14:30 - 21:00 |
1 / No Max |
1 US cent |
USD |
58.97 |
23/10/2009 |
| ADRs and ETFs | ||||||||||
|
US Depository Receipts and Exchange Traded Funds (ADRs and ETFs) |
2.95 cents per share |
10 USD |
VARIABLE - please contact Trading Desk for details |
BBA USD LIBOR Overnight rate at 17:00 New York time |
09:30 - 16:00 EST |
1 / No Max |
1 cent |
USD |
28.64 |
23/10/2009 |
| For CFD Stock Indices (cash markets), Individual Equities and FX, a +/- 3% financing charge will apply. |
†
Tick Factor = the price increment representing 1 whole trading unit, by
which P&L and both initial and variation margin is calculated. For
non-FX CFDs, the Notional Value of your underlying transaction is Price
* Number of CFDs/Tick Factor.
Commissions
You
pay commission at the rates set out above when trading on individual
equity CFDs with AM Financials and calculated as follows:
(applicable commission rate x price bought or sold at) x number of
CFDs.
A minimum commission rate also applies, as set out above.
Minimum / Maximum Trade Sizes
The
values shown are indicative; maximum trade sizes will vary from share
to share, according to underlying liquidity and, in the case of UK
shares, "Normal Market Size".
The market
information sheets indicate the usual minimum and maximum trading sizes
in GBP; currency equivalents apply for non-GBP accounts, or when
trading on markets denominated in a currency other than GBP.
Restrictions may be applied to maximum trade sizes whether opening or closing.
The lot size of the corresponding underlying market is provided for your information, as a guide to minimum market trading size.
| When you trade CFDs you are always trading the in "base" currency of the underlying market. E.g. if you trade a US share, you are trading in US dollars per one cent movement. |
Finance Adjustments
All
finance adjustments are carried out at on open positions at or after
17:00 ET. For examples on how the rollover process is applied, please
see Examples.
|
As you hold a position overnight (i.e. after17:00 ET), a finance adjustment is made to your account. This is calculated as follows: f = (s x p x r) / d where f = daily financing charge s = number of CFDs p = closing price as determined by AM Financials (usually this will be the price on close of the underlying share) r = relevant interest rate, PLUS 300 basis points for long positions, or MINUS 300 basis points for short positions, e.g. (4.50% + 3.00%) = 7.50% d = number of days, i.e. 365 for UK and Australian indices and 360 for all others Long (buy) trade positions are debited the daily financing charge Short (sell) positions are credited the daily financing charge |
Dividends
Current rates of dividend adjustments are as follows:
| UK Shares: | Buy trades are credited with 90% of the gross dividend Sell trades are debited 100% of the gross dividend |
| US Shares: | Buy trades are credited with 85% of the gross dividend Sell trades are debited with 100% of the gross dividend |
| Australian Shares: | Buy trades are usually credited with 70% of the gross dividend Sell trades are debited with 100% of the gross dividend |
| Euro and other non-UK Shares: | Buy trades – amounts vary from country to country Sell trades are debited with 100% of the gross dividend |
Short-Selling
Restrictions may be imposed on short-selling if for example the underlying stock is subject to a lack of liquidity.
Trading Hours
Times
shown are AM Financials ' usual times for trading a market; these
may vary e.g. on market holidays and where daylight saving applies.
Our normal dealing hours are from 17:00 Sunday to 17:00 on Friday Eastern Time.
Spreads
The spreads shown may vary according to underlying market liquidity or in "fast markets".
العربية