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UK
Free phone: 0800 0213 555

Rest Of World
+44 207 456 7041

Fax:
+44 (0)20 7456 7013

Email
support@
paddypowertrader.com

Dealing Desk

Ireland
Free phone: 1800 556 685

UK
Free phone: 0800 0213 444

Rest Of World
+44 207 456 7040

Fax:
+44 (0)20 7456 7040

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We are open from 07:00
to 21:00 Monday to
Friday

Product Information

General Notes

i) 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:
Stake x Min IMR x Mid Share Price. For example the Min IMR of FTSE 100 shares, such as Vodafone, is 3%. So if you wish to bet €10 per penny on Vodafone, which is trading at 150-150.5 you would need a minimum of €10 x 3% x 150.25 = €45.08 available funds in your account.

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 Policy

paddypowertrader 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 specification

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

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