Product Information
General Notesi) All details are correct at time of going to press. paddypowertrader reserves the right to alter the contract specifications at any time and to widen spreads in times of excessive market volatility. ii) All times stated are UK times. iii) All bets are closed on a ‘First In First Out’ basis. iv) The minimum bet size on all products is £1, $1, €1 or 1 SEK. |
Minimum Initial Margin Requirement (Min IMR)The Minimum Initial Margin Requirement (Min IMR) is a figure used to calculate the minimum level of funds required to open a new position. To calculate the minimum level of funds required for most bets, you simply multiply the Min IMR by your stake. For example the current Min IMR for the FTSE 100 Index Future is 30. Therefore, if you wished to bet €5 per point, you would need a minimum of €5 x 30 = €150 available funds in your account. For indivdual shares, the Min IMR is expressed as a percentage of the share price. To calculate the minimum level of funds required use the formula: |
Maximum Computer Generated Stop Level (Max CGSL)The Maximum Computer Generated Stop Level (Max CGSL) is the figure used to automatically allocate a stop loss on newly opened positions. The trading system will assign a stop level based on 80% of the CGSL if there are sufficient funds in the account. For instance, if you have €2000 in your account and you trade the Daily FTSE at €10 per point, the system will automatically allocate a stop-loss of 100 points (because the Max CGSL for the Daily FTSE is 125 and 80% of 125 is 100). You would then have €750 remaining as available funds on your account. Alternatively, if there are insufficient funds to cover the Max CGSL, the system will allocate the stop level based upon 80% of the available funds (see following details). The Max CGSL varies depending on the product. |
paddypowertrader's Stop-Loss Policypaddypowertrader automatically creates a stop-loss for every bet opened. This stop-loss is based EITHER on 80% of the Max CGSL OR on 80% of the available funds on you account, whichever is smaller. See the section Maximum Computer Generated Stop Level on the left for more details. You may amend your stop-loss to whatever level you desire, assuming you have the funds available and that your required stop is outside the minimum stop distance allowable for that market. Although this stop-loss does go some way towards limiting your risk on your open bets you must be aware that your stop-loss is not guaranteed. This means that should a market gap, you may lose more money than your initial deposit (see clause in the terms and conditions). |
Use the tabs below to view each individual guide
- Futures
Indices - Daily & Rolling
Daily Indices - Quarterly
Currencies - Rolling Daily
Currencies - Commodities
- Bond
Futures - Short Term
Interest Rates - Individual
Shares - Binary
Markets
FUTURES INDICES
| Market | Exchange Hours | paddypowertrader Market Hours (Quoting Hours) |
Underlying stake / unit risk | Min IMR | Max CGSL | Spread per contract | Contract Months Quoted | Last Dealing Day | Settlement Details |
|---|---|---|---|---|---|---|---|---|---|
| FTSE 100 Future | 08:00-17:30 | 07:00-21:00 | 1 index point | 30 | 300 | Current Mth 4 First Qtr 4 2nd Qtr 4 4 pts out of exchange hours |
Next 2 Quarters; Next Serial | 3rd Friday (or previous business day) of contract month until 10:00 | Official LIFFE settlement for FTSE index contract. |
| Wall Street Future | 01:30-22:00 | 07:01-21:15 | 1 index point | 70 | 400 | Current Mth 7 First Qtr 9 2nd Qtr 9 |
Next 2 Quarters; Next Serial | End of business day preceding 3rd Friday (or previous business day) of contract month until 21:00 | Expires on the Special Opening Quotation on the 3rd Friday of the month. |
| DAX 30 Future | 07:00-21:00 | 07:01-21:00 | 1 index point | 50 | 300 | 4 | Next 2 Quarters | 3rd Friday (or previous business day) of contact month until 11:30 | Official settlement for DAX contract |
| CAC 40 Future | 07:00-19:00 | 07:01-19:00 | 1 index point | 30 | 100 | 4 | Next Month | 3rd Friday of contract month until 14.30 | Official MATIF settlement for the CAC contact. |
| Nikkei 225 | 21:30-21:15 | 09.00-21:00 | 1 index point | 300 | 500 | 25 | Next Quarter | End of business day preceding 2nd Friday (or previous business day) of contract month until 21:00 | Expires on the Special Opening Quotation on the 2nd Friday of the month. |
| S&P 500 Future | 21:30-21:15 | 07:01-21:15 | 0.1 index point | 100 | 400 | 9 | Next 2 Quarters | End of business day preceding 3rd Friday (or previous business day) of contract month until 21:00 | Expires on the Special Opening Quotation on the 2nd Friday of the month. |
| Euro Stoxx 50 | 08:00-21:00 | 07:01-21:00 | 1 index point | 40 | 200 | 3 | Next 2 Quarters | 3rd Friday (or previous business day) of contract month until 10:00 | Official settlement for Euro Stoxx 50 contract. |
| Nasdaq 100 Future | 21:30-21:15 | 07:01-21:15 | 1 index point | 30 | 150 | 4 | Next 2 Quarters | End of business day preceding 3rd Friday (or previous business day) of contract month until 21:00 | Expires on the Special Opening Quotation on the 3rd Friday of the month. |
| AEX Index | 08:00-16:30 | 08:01-16:30 | 0.1 index point | 30 | 100 | 10 | Next Month | 3rd Friday of contract month until 14:30 | Official Euronext settlement |
| Swiss SMI | 08:00-16:20 | 08:01-16:20 | 1 index point | 50 | 200 | 4 | Next 2 Quarters | Thursday or previous business day before 3rd Friday of contract month until 17:00 | Official Eurex settlement |
| Russ 2K Future | 21:30-21:15 | 07:01-21:15 | 0.1 index point | 80 | 240 | 6 | Next 2 Quarters | End of business day preceding 3rd Friday (or previous business day) of contract month until 21:00) | Expires on the Special Opening Quotation on the 3rd Friday of the month |
| Jo’Burg Index | 07:30-16:30 | 07:35-16:25 | 1 index point | 300 | 600 | 25 | Current Quarter | 3rd Thursday (or previous business day if public holiday) of contract month until 12:40 | Official SAFEX settlement |
Notes on Futures Indices
Rollover terms are available with paddypowertrader on all markets other than Binary Markets. To avail yourself of any rollover concessions you must indicate to paddypowertrader at least 45 minutes before the expiry of the relevant contract that you wish to roll.
For Futures Indices paddypowertrader will expire the bet at our mid point and offer the subsequent quarter at the current paddypowertrader quote.
Please note that:
i) paddypowertrader closes the existing bet on rollover of futures contracts and subsequently opens a new bet on the next month/quarter.
ii) Any profits or losses incurred are realised on rollover of futures contracts.
Last updated : 15 June 2007
DAILY & ROLLING DAILY INDICES
| Market | Exchange Hours | paddypowertrader Market Hours (Quoting Hours) |
Underlying stake / unit risk | Min IMR | Max CGSL | Spread per contract | Contract Months Quoted | Last Dealing Day | Settlement Details |
|---|---|---|---|---|---|---|---|---|---|
| FTSE 100 Cash Rolling Daily | 08:00-17:30 | 07:00-21:00 | 1 index point | 30 | 150 | 2 pts in hours; 4 pts out of exchange hours | Rolling | N/A | N/A |
| FTSE 100 Future Daily | 08:00-17:30 | 07:00-21:00 | 1 index point | 30 | 125 | 2 pts in hours; 4 pts out of exchange hours | Daily | N/A | Official LIFFE Close at 16:30 |
| Wall Street Rolling Daily | 01:30-22:00 | 07:01-21:15 | 1 index point | 50 | 200 | 5 pts | Daily | N/A | N/A |
| Wall Street Future Daily | 01:30-22:00 | 07:01-21:15 | 1 index point | 50 | 200 | 5 pts | Daily | N/A | Settlement at the last market traded price before 21:15 as recorded by Bloomberg |
| DAX Rolling Daily | 07:00-21:00 | 07:01-21:00 | 1 index point | 30 | 125 | 2 pts | Daily | N/A | N/A |
| DAX Future Daily | 07:00-21:00 | 07:01-21:00 | 1 index point | 30 | 125 | 2 pts | Daily | N/A | Official Eurex close at 16:30 |
| S&P Cash Rolling Daily | 14:30-21:00 | 07:01 – 21:15 | 0.1 index point | 50 | 200 | 5 pts | Rolling | N/A | N/A |
| S&P Future Daily | 21:30-21:15 | 07:01 – 21:15 | 0.1 index point | 50 | 200 | 5 pts | Daily | N/A | Settlement at the last market traded price on e-mini future at 21.15 |
| Nasdaq Cash Rolling Daily | 14:30-21:00 | 07:01 – 21:15 | 1 index point | 20 | 100 | 3 pts | Rolling | N/A | N/A |
| Nasdaq Future Daily | 21:30-21:15 | 07:01 – 21:15 | 1 index point | 20 | 100 | 3 pts | Daily | N/A | Settlement at the last market traded price on e-mini future at 21.15 |
| Russ 2K Rolling Daily | 14:30-21:00 | 07:01 – 21:15 | 0.1 index point | 80 | 150 | 4 pts | Rolling | N/A | N/A |
| Eurostoxx Future Daily | 08:00-21:00 | 07:01-21:00 | 1 index point | 40 | 200 | 2 | Next 2 Quarters | 3rd Friday (or previous business day) of contract month until 10:00 | Official settlement for Euro Stoxx 50 contract. |
| CAC Future Daily | 07:00-19:00 | 07:01-19:00 | 1 index point | 30 | 100 | 2 | Next Quarter | 3rd Friday of contract month until 14.30 | Official MATIF settlement for the CAC contact. |
| SMI Future Daily | 08:00-16:20 | 08:01-16:20 | 1 index point | 50 | 200 | 3 | Next Quarter | Thursday or previous business day before 3rd Friday of contract month until 17:00 | Official Eurex settlement |
| AEX Future Daily | 08:00-16:30 | 08:01-16:30 | 0.1 index point | 30 | 100 | 8 | Next 2 Months | 3rd Friday of contract month until 14:30 | Official Euronext settlement |
| OMX 30 Rolling Daily | 08:00-16:31 | 08:05-16:20 | 1 index point | 30 | 100 | 2 | Rolling | N/A | N/A |
Notes on Daily & Rolling Daily Indices
More information about rolling bets is available from the Rolling Daily Bets Guide.
Last updated : 15 June 2007
QUARTERLY CURRENCIES
| Market | Exchange Hours | paddypowertrader Market Hours (Quoting Hours) |
Underlying stake / unit risk | Min IMR | Max CGSL | Spread per contract | Contract Months Quoted | Last Dealing Day | Settlement Details |
|---|---|---|---|---|---|---|---|---|---|
| £/$ | 21:30-21:15 | 07:00-21:00 | 1 pip | 60 | 200 | 8 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| £/€ | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 200 | 7 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| £/CAD | 21:30-21:15 | 07:00-21:00 | 1 pip | 80 | 400 | 15 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| £/Yen | 21:30-21:15 | 07:00-21:00 | 1 pip | 80 | 400 | 12 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| €/$ | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 200 | 8 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| €/£ | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 200 | 8 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| €/Yen | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 300 | 10 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| €/CHF | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 200 | 8 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| $/CAD | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 200 | 8 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| $/CHF | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 200 | 8 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| $/Yen | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 200 | 8 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| AUD/USD | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 200 | 8 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
| CHF/Yen | 21:30-21:15 | 07:00-21:00 | 1 pip | 50 | 200 | 8 | Next 2 Qtrs | Friday before 3rd Wednesday of the contract month | Official CME Expiry |
Notes on Quarterly Currencies
Rollover terms are available with paddypowertrader on all markets other than Binary Markets. To avail yourself of any rollover concessions you must indicate to paddypowertrader at least 45 minutes before the expiry of the relevant contract that you wish to roll.
For Quarterly Currencies paddypowertrader will expire the bet at our mid point and offer the subsequent quarter at the current paddypowertrader quote.
Please note that:
i) paddypowertrader closes the existing bet on rollover of futures contracts and subsequently opens a new bet on the next month/quarter.
ii) Any profits or losses incurred are realised on rollover of futures contracts.
Last updated : 15 June 2007
ROLLING DAILY CURRENCIES
| Market | Exchange Hours | paddypowertrader Market Hours (Quoting Hours) |
paddypowertrader ‘24 hr’ hours of business | Underlying stake / unit risk | Min IMR | Max CGSL | Spread ‘Normal Hours’ / ‘24 hr’ |
Contracts Quoted | Last Dealing Day | Settlement Details |
|---|---|---|---|---|---|---|---|---|---|---|
| £/$ | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 60 | 200 | 3/4 | Rolling | N/A | Rolling Daily FX bets do not have an expiry date. 24hr’ markets will normally open at 00:00 on Monday morning and close at 21:00 on Friday night. |
| £/€ | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 200 | 4/5 | Rolling | N/A | |
| £/CAD$ | 24 hours | 07:00-21:00 | N/A | 1 pip | 80 | 400 | 10 / n/a | Rolling | N/A | |
| £/Yen | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 120 | 400 | 8/10 | Rolling | N/A | |
| £/Swiss Fr | 24 hours | 07:00-21:00 | N/A | 1 pip | 100 | 300 | 8 / n/a | Rolling | N/A | |
| €/$ | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 200 | 2/4 | Rolling | N/A | |
| €/£ | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 200 | 2/4 | Rolling | N/A | |
| €/Yen | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 200 | 3/4 | Rolling | N/A | |
| €/Swiss Fr | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 200 | 3/4 | Rolling | N/A | |
| €/NOK | 24 hours | 07:00-21:00 | N/A | 1 pip | 300 | 1000 | 40 / n/a | Rolling | N/A | |
| €/SEK | 24 hours | 07:00-21:00 | N/A | 1 pip | 300 | 1000 | 40 / n/a | Rolling | N/A | |
| $/SEK | 24 hours | 07:00-21:00 | N/A | 1 pip | 300 | 1000 | 40 / n/a | Rolling | N/A | |
| $/Swiss Fr | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 1000 | 4/5 | Rolling | N/A | |
| $/Yen | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 200 | 2/4 | Rolling | N/A | |
| $/Cad$ | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 200 | 4/5 | Rolling | N/A | |
| $/NOK | 24 hours | 07:00-21:00 | N/A | 1 pip | 300 | 1000 | 40 / n/a | Rolling | N/A | |
| $/DKK | 24 hours | 07:00-21:00 | N/A | 1 pip | 100 | 500 | 30 / n/a | Rolling | N/A | |
| $/ZAR | 24 hours | 07:00-21:00 | N/A | 1 pip | 300 | 1800 | 150 / n/a | Rolling | N/A | |
| Swiss Fr/Yen | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 1000 | 4/6 | Rolling | N/A | |
| Aus$/$ | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 40 | 200 | 2/4 | Rolling | N/A | |
| Aus$/Yen | 24 hours | 07:00-21:00 | N/A | 1 pip | 40 | 200 | 4/5 | Rolling | N/A | |
| NZD$/$ | 24 hours | 07:00-21:00 | 21:00-07:00 | 1 pip | 50 | 180 | 5/6 | Rolling | N/A | |
| $/CZK | 24 hours | 07:00-21:00 | N/A | 1 pip | 300 | 1000 | 80 / n/a | Rolling | N/A | |
| $/HUF | 24 hours | 07:00-21:00 | N/A | 1 pip | 140 | 600 | 40 / n/a | Rolling | N/A | |
| $/MXN | 24 hours | 07:00-21:00 | N/A | 1 pip | 300 | 1000 | 80 / n/a | Rolling | N/A | |
| $/PLN | 24 hours | 07:00-21:00 | N/A | 1 pip | 200 | 600 | 50 / n/a | Rolling | N/A | |
| $/SGD | 24 hours | 07:00-21:00 | N/A | 1 pip | 80 | 400 | 12 / n/a | Rolling | N/A | |
| Aus$/Є | 24 hours | 07:00-21:00 | N/A | 1 pip | 60 | 200 | 6 / n/a | Rolling | N/A | |
| Aus$/CAD$ | 24 hours | 07:00-21:00 | N/A | 1 pip | 60 | 200 | 8 / n/a | Rolling | N/A | |
| Aus$/NZD$ | 24 hours | 07:00-21:00 | N/A | 1 pip | 80 | 300 | 12 / n/a | Rolling | N/A | |
| Є/NZD$ | 24 hours | 07:00-21:00 | N/A | 1 pip | 130 | 400 | 24 / n/a | Rolling | N/A | |
| Є/ZAR | 24 hours | 07:00-21:00 | N/A | 1 pip | 2000 | 4000 | 500 / n/a | Rolling | N/A | |
| £/ZAR | 24 hours | 07:00-21:00 | N/A | 1 pip | 3000 | 6000 | 700 / n/a | Rolling | N/A | |
| NZD$/CAD$ | 24 hours | 07:00-21:00 | N/A | 1 pip | 100 | 300 | 18 / n/a | Rolling | N/A | |
| NZD$/CHF | 24 hours | 07:00-21:00 | N/A | 1 pip | 100 | 300 | 14 / n/a | Rolling | N/A | |
| NZD/Yen | 24 hours | 07:00-21:00 | N/A | 1 pip | 100 | 300 | 12 / n/a | Rolling | N/A |
Notes on Rolling Daily Currencies
More information about rolling bets is available from the Rolling Daily Bets Guide.
Last updated : 15 June 2007
COMMODITIES
| Market | Exchange Hours | paddypowertrader Market Hours (Quoting Hours) |
Underlying stake / unit risk | Min IMR | Max CGSL | Spread per contract | Contracts Quoted | Last Dealing Day | Settlement Details |
|---|---|---|---|---|---|---|---|---|---|
| Brent Crude Oil Futures | 02:00-22:00 | 08:00-19:29 | per 1 cent move | 100 | 200 | 5 | Next Month | 17:00 on the trading day 1 business day before the 15th day prior to the first day of the delivery month | Settlement at ICE closing price on paddypowertrader’s last trading day |
| US Crude Oil Futures | 20:15-14:30 15:00-19:30 |
08:00-14.29 15:00-19:29 |
per 1 cent move | 100 | 200 | 6 | Next Month | Close of trading 6 business days before the 25th calendar day of month prior to the contract month | Settlement at NYMEX closing price on paddypowertrader’s last trading day |
| Gold Futures | 00:16-22:00 | 07:01-21:00 | per 10 cent move | 100 | 200 | 8 | Next Month of Feb, Apr, Jun, Aug, Oct, Dec | 4 business days prior to the first business day of the contract month | Settlement at e-CBOT closing price on paddypowertrader’s last trading day |
| Rolling Gold | 24 Hours | 07:04-19:30 | per 10 cent move | 100 | 200 | 6 | Rolling | N/A | Rolling bets do not have an expiry date |
| Silver Futures | 00:16 22:00 | 07:01-21:00 | per 1 cent move | 50 | 150 | 3 | Next Month of Jan, Mar, May, Jul, Sep, Dec | 4 business days prior to the first business day of the contract month | Settlement at e-CBOT closing price on paddypowertrader’s last trading day |
| US Copper Futures | 13:10-18:00 | 13:15-18:00 | per 0.01 cent move | 1600 | 2500 | 80 | Next Month of Jan, Mar, May, Jul, Sep, Dec | 4 business days prior to the first business day of the contract month | Settlement at COMEX closing price on paddypowertrader’s last trading day |
| Platinum Futures | 13:20-18:05 | 13:25-18:05 | per 10 cent move | 100 | 300 | 30 | Next Month of Apr, Jul, Oct, Jan | 2 business days prior to the first business day of the contract month | Settlement at NYMEX closing price on paddypowertrader’s last trading day |
| Robusta Coffee London Futures | 09:40-16:55 | 09:45-16:55 | per 1 dollar move | 20 | 60 | 5 | Next Month of Jan, Mar, May, Jul, Sep, Nov | 2 business days prior to the first business day of the contract month | Settlement at LIFFE closing price on paddypowertrader’s last trading day |
| US Corn Futures | 15:30-19:15 | 15:35-19:14 | per 0.1 cent move | 100 | 300 | 10 | Next Month of Mar, May, Jul, Sep, Dec | 8 business days prior to the first business day of the contract month | Settlement at CBOT closing price on paddypowertrader’s last trading day |
| US Oates Futures | 15:30-19:15 | 15:35-19:14 | per 0.1 cent move | 100 | 300 | 10 | Next Month of Mar, May, Jul, Sep, Dec | 8 business days prior to the first business day of the contract month | Settlement at CBOT closing price on paddypowertrader’s last trading day |
| US Soybean Futures | 15:30-19:15 | 15:35-19:14 | per 1 cent move | 25 | 70 | 2 | Next Month of Jan, Mar, May, Jul, Aug, Sep, Nov | 8 business days prior to the first business day of the contract month | Settlement at CBOT closing price on paddypowertrader’s last trading day |
| US Soybean Meal Futures | 15:30-19:15 | 15:35-19:14 | per 10 cent move | 100 | 300 | 8 | Next Month of Jan, Mar, May, Jul, Aug, Sep, Oct, Dec | 8 business days prior to the first business day of the contract month | Settlement at CBOT closing price on paddypowertrader’s last trading day |
| US Soybean Oil Futures | 15:30-19:15 | 15:35-19:14 | per 0.01 cent move | 70 | 250 | 16 | Next Month of Jan, Mar, May, Jul, Aug, Sep, Oct, Dec | 8 business days prior to the first business day of the contract month | Settlement at CBOT closing price on paddypowertrader’s last trading day |
| Live Cattle Futures | 15:05-19:00 | 15:06-19:00 | per 0.01 cent move | 60 | 200 | 15 | Next Month of Feb, April, June, Aug, Oct, Dec | 8 business days prior to the first business day of the contract month | Settlement at CME closing price on paddypowertrader’s last trading day |
| Lean Hogs Futures | 15:12-19:00 | 15:12-19:00 | per 0.01 cent move | 150 | 400 | 15 | Next month of Feb, April, June, July, Aug, Oct, Dec. | 11th day of the contract month or next business day | Settlement at CME closing price on paddypowertrader’s last trading day |
| Natural Gas Futures | 15:00-19:30 | 15:05-19:00 | per 0.1 cent move | 500 | 2000 | 50 | Next Month | 4 business days prior to the first business day of the contract month | Settlement at NYMEX closing price on paddypowertrader’s last trading day |
| Heating Oil Futures | 15:05-19:30 | 15:10-19:30 | per 0.01 cent move | 700 | 2000 | 50 | Next Month | 2 business days prior to the first business day of the contract month | Settlement at NYMEX closing price on paddypowertrader’s last trading day |
| Wheat Futures | 15:30-19:15 | 15:35-19:14 | per 1 cent move | 15 | 35 | 2 | Next Month of Mar, May, Jul, Sep, Dec | 8 business days prior to the first business day of the contract month | Settlement at CBOT closing price on paddypowertrader’s last trading day |
| Cocoa Futures | 09:30-16:50 | 09:35-16:50 | per £1 move | 50 | 150 | 6 | Next Month of Mar, May, Jul, Sep, Dec | 11 business days prior to the last business day of the contract month at 12:00 | Settlement at LIFFE closing price on paddypowertrader’s last trading day |
| Sugar | 08:45-17:30 | 09:45-17:30 | per 10c move | 100 | 300 | 10 | Next month of Mar, May, Aug, Oct, Dec | 16 calendar days prior to the first business day of the contract month (or previous business day if not a business day) | Settlement at LIFFE closing price on paddypowertrader’s last trading day |
Notes on Commodities
Rollover terms are available with paddypowertrader on all markets other than Binary Markets. To avail yourself of any rollover concessions you must indicate to paddypowertrader at least 45 minutes before the expiry of the relevant contract that you wish to roll.
For Commodities paddypowertrader will expire the bet at our mid point and offer the subsequent quarter at the current paddypowertrader quote.
Please note that:
i) paddypowertrader closes the existing bet on rollover of futures contracts and subsequently opens a new bet on the next month/quarter.
ii) Any profits or losses incurred are realised on rollover of futures contracts.
Last updated : 15 June 2007
BOND FUTURES
| Market | Exchange Hours | paddypowertrader Market Hours (Quoting Hours) |
Underlying stake/ unit risk | Min IMR | Max CGSL | Spread per contract | Contract MonthsQuoted | Last Dealing Day | SettlementDetails |
|---|---|---|---|---|---|---|---|---|---|
| BOBL Futures | 08:00-21:00 | 07:01-21:00 | 1 tick | 25 | 100 | 3 | Next Quarter | Two business days prior to 10th calendar day or next business day of contract month 09:00 |
Official Eurex Settlement |
| Bund Futures | 08:00-21:00 | 07:01-21:00 | 1 tick | 30 | 150 | 3 | Next Quarter | Two business days prior to 10th calendar day or next business day of contract month 09:00 |
Official Eurex Settlement |
| Gilt Futures | 08:00-18:00 | 08:01-18:00 | 1 tick | 30 | 150 | 3 | Next Quarter | 3rd last business day of previous month | Official LIFFE Settlement |
| Shatz Futures | 08:00-21:00 | 07:01-21:00 | 1 tick | 20 | 60 | 3 | Next Quarter | Two business days prior to 10th calendar day or next business day of contract month 09:00 |
Official Eurex Settlement |
Notes on Bond Futures
Rollover terms are available with paddypowertrader on all markets other than Binary Markets. To avail yourself of any rollover concessions you must indicate to paddypowertrader at least 45 minutes before the expiry of the relevant contract that you wish to roll.
For Bond Futures paddypowertrader will expire the bet at our mid point and offer the subsequent quarter at the current paddypowertrader quote.
Please note that:
i) paddypowertrader closes the existing bet on rollover of futures contracts and subsequently opens a new bet on the next month/quarter.
ii) Any profits or losses incurred are realised on rollover of futures contracts.
Last updated : 15 June 2007
SHORT TERM INTEREST RATES
| Market | Exchange Hours | paddypowertrader Market Hours (Quoting Hours) |
Underlying stake / unit risk | Min IMR | Max CGSL | Spread per contract | Contract Months Quoted | Last Dealing Day | Settlement Details |
|---|---|---|---|---|---|---|---|---|---|
| Euribor | 07:00-18:00 | 07:01-18:00 | 1 tick | 10 | 30 | 2 | Next 4 Quarters | 2nd Business day prior to 3rd Wednesday of contract month 11:00 | Official LIFFE Settlement |
| Eurodollar | 22:30-22:00 | 13:21-20:00 | 1 tick | 10 | 30 | 2 | Next 4 Quarters | 2nd Business day prior to 3rd Wednesday of contract month 11:00 | Official CME Settlement |
| Euroswiss | 07:30-18:00 | 07:31-17:59 | 1 tick | 10 | 30 | 2 | Next 4 Quarters | 2nd Business day prior to 3rd Wednesday of contract month 11:00 | Official LIFFE Settlement |
| Short Sterling | 07:30-18:00 | 07:31-18:00 | 1 tick | 10 | 30 | 2 | Next 4 Quarters | 3rd Wednesday of contract month 11:00 | Official LIFFE Settlement |
Notes on Short Term Interest Rates
Rollover terms are available with paddypowertrader on all markets other than Binary Markets. To avail yourself of any rollover concessions you must indicate to paddypowertrader at least 45 minutes before the expiry of the relevant contract that you wish to roll.
For Short Term Interest Rates paddypowertrader will expire the bet at our mid point and offer the subsequent quarter at the current paddypowertrader quote.
Please note that:
i) paddypowertrader closes the existing bet on rollover of futures contracts and subsequently opens a new bet on the next month/quarter.
ii) Any profits or losses incurred are realised on rollover of futures contracts.
Last updated : 15 June 2007
INDIVIDUAL SHARES
| Market | Exchange Hours | paddypowertrader Market Hours (Quoting Hours) |
Underlying stake / unit risk | Min IMR | Max CGSL | Spread per contract | Contracts Quoted | Last Dealing Day | Settlement Details |
|---|---|---|---|---|---|---|---|---|---|
| FTSE 100 Rolling Daily | 08:00-16:30 | 08:05-16:29 | penny move | 3% | 10% | 0.10% | Rolling | Equity Futures: Close of business of the relevant market on the Tuesday before the 3rd Wednesday of the contract month. Last dealing time is 30 mins prior to the close of business on the day of expiry which is 16:00 for UK & European shares and 20:30 for US shares. Rolling Daily bets do not have an expiry date. | See below. |
| FTSE 100 Futures | 08:00-16:30 | 08:05-16:29 | penny move | 3% | 10% | 0.10% | Next 2 Quarters | ||
| FTSE 250 Futures | 08:00-16:30 | 08:05-16:29 | penny move | 5% | 10% | 0.25% | Next 2 Quarters | ||
| FTSE 250 Rolling Daily | 08:00-16:30 | 08:05-16:29 | penny move | 5% | 10% | 0.25% | Rolling | ||
| Selection of S&P 500 & Nasdaq 100 Rolling Daily | 14:30-21:00 | 14:35-20:58 | cent move | 5% | 15% | 0.10% | Rolling | ||
| Selection of S&P 500 & Nasdaq 100 Futures | 14:30-21:00 | 14:35-20:58 | cent move | 5% | 15% | 0.20% | Next 2 Quarters | ||
| DAX 30, CAC 40 & AEX Rolling Daily | 08:00-16:30 | 08:05-16:30 | cent move | 5% | 10% | 0.20% | Rolling | ||
| DAX 30, CAC 40 & AEX Futures | 08:00-16:30 | 08:05-16:30 | cent move | 5% | 10% | 0.30% | Next 2 Quarters | ||
| Jo’burg Index | 08:00-16:00 | 08:05-15:58 | cent move | 10% | 20% | 0.25% | Rolling | ||
| Selection of OMX | 08:00-16:20 | 08:05-16:18 | SEK move | 5% | 15% | 0.10% | Rolling Daily | ||
| Selection of OBX | 08:00-15:30 | 08:05-15:20 | NOK move | 5% | 15% | 0.10% | Rolling Daily | ||
| Selection of OMXC | 08:00-16:00 | 08:05-15:58 | DKK move | 5% | 15% | 0.10% | Rolling Daily | ||
| Ireland ISEQ Shares | 08:00-16:01 | 08:05-16:25 | cent move | 5% | 15% | 0.25% | Rolling Daily | ||
| Small Cap & AIM Rolling Daily | 08:00-16:00 | 08:05-16:29 | penny move | 5% | 15% | 0.25% | Rolling Daily |
Notes on individual shares
The quote spread will be based on the natural market bid offer. The price is adjusted for dividends (which are not paid on spread bets), funding costs and paddypowertrader's spread.
On expiry of equity bets of less than £100 a penny/cent movement and/or of less than £30,000 total underlying contract value (i.e. a £100 bet on £1.00 share would have a contract value of £10,000), whichever is the least, the settlement price will be based on the closing bid or offer price of the contract plus or minus half paddypowertrader's spread on that contract depending on the client position. For example, if the client has a long position on expiry, the settlement price will be the bid of the share in the market at expiry time minus half the spread. If the client has a short position on expiry, the settlement price will be the offer of the share in the market at expiry plus half the spread.
On expiry of equity bets of greater than £100 per penny/cent movement and/or of total contract value greater than £30,000, paddypowertrader shall settle the bet at either the average bid/offer spread of the underlying share in the last hour of trading of the last dealing day plus or minus the relevant paddypowertrader's spread, or at the price achieved by paddypowertrader in removing its hedge on the relevant bet during the course of the final business day of the relevant expiry date plus or minus the relevant paddypowertrader's spread, or at the normal expiry terms as stated in the above section ii)
Rollover terms are available with paddypowertrader on all markets other than Binary Markets, including quarterly bets on individual shares. To avail yourself of rollover concessions for quarterly bets on individual shares you must indicate to paddypowertrader at least 45 minutes before the expiry of the relevant contract that you wish to roll.
For Quarterly Bets on Individual Shares paddypowertrader will expire the existing bet at the underlying market price and offer the subsequent quarter at the current paddypowertrader quote.
Please note that:
i) paddypowertrader closes the existing bet on rollover of futures contracts and subsequently opens a new bet on the next month/quarter.
ii) Any profits or losses incurred are realised on rollover of futures contracts.
More information about rolling bets is available from the Rolling Daily Bets Guide.
Last updated : 15 June 2007
BINARY MARKETS
| Market | Exchange Hours | paddypowertrader Market Hours (Quoting Hours) |
Underlying stake / unit risk | Min IMR | Max CGSL | Spread | Contracts Quoted | Last Dealing Day | Settlement Details |
|---|---|---|---|---|---|---|---|---|---|
| FTSE Hourly Up/Down | 08:00-16:30 | 08:03-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Hourly | N/A | First Bloomberg print of the underlying cash price after the hour between 09:00am and 16:00pm |
| FTSE Daily 10 pt Range | 08:00-16:30 | 08:03-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | Official FTSE cash settlement price |
| FTSE Daily Up/ Down | 08:00-16:30 | 08:03-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | Official FTSE cash settlement price |
| FTSE Daily Tunnel | 08:00-16:30 | 08:03-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | Payoff is 100 if FTSE cash stays within the specified range, otherwise 0. |
| FTSE Daily One Touch | 08:00-16:30 | 08:03-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | Payoff is 100 if the FTSE cash touches a specified barrier, otherwise 0. |
| DAX Midday Up/ Down | 08:00-16:30 | 08:03-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Midday | N/A | First Bloomberg print of the underlying cash price after 12:00pm |
| Dax Daily 15 pt Range | 08:00-16:30 | 08:03-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | Official DAX cash settlement price |
| DAX Daily Up/ Down | 08:00-16:30 | 08:03-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | Official DAX cash settlement price |
| OMX Midday Up/ Down | 08:00-16:20 | 08:03-16:18 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Midday | N/A | First Bloomberg print of the underlying cash price after 12:00pm |
| OMX Daily 1.5 pt Range | 08:00-16:20 | 08:03-16:18 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | Official OMX cash settlement price |
| OMX Daily Up/ Down | 08:00-16:20 | 08:03-16:18 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | Official OMX cash settlement price |
| Wall Street Hourly Up/Down | 1:30-22:00 | 14:32-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Hourly | N/A | First Bloomberg print of the underlying cash price after the hour between 15:30pm and 16:30pm |
| Wall Street Daily Up/ Down | 01:30-22:00 | 14:32-16:28 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | First Bloomberg print of the underlying after 5pm |
| Brent Crude 5pm Up/Down Daily | 24 hours | 08:02-16:58 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | First Bloomberg print of the underlying after 5pm |
| Gold 5pm Up/Down Daily | 24 hours | 08:02-16:58 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | First Bloomberg print of the underlying after 5pm |
| GBPUSD 5pm Up/Down Daily | 24 hours | 08:02-16:58 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | First Bloomberg print of the underlying after 5pm |
| EURUSD 5pm Up/Down Daily | 24 hours | 08:02-16:58 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | First Bloomberg print of the underlying after 5pm |
| USDCHF 5pm Up/Down Daily | 24 hours | 08:02-16:58 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | First Bloomberg print of the underlying after 5pm |
| USDJPY 5pm Up/Down Daily | 24 hours | 08:02-16:58 | 1 point | buy price or 100-sell price* | min IMR x stake | Variable | Daily | N/A | First Bloomberg print of the underlying after 5pm |
Notes on Binary Markets
* The min. IMR is the buy price paid if you have bought a binary. Otherwise the min IMR is 100-sell price if you have sold the binary.
Last updated : 15 June 2007