Spread Betting Market Information
Capital Spreads offer a wide variety of financial markets which include indices, shares, currencies, commodities, interest rates and bonds. LCG will not quote any markets outside of its opening hours which are generally Sunday 23:00 to Friday 21:15, UK time.
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STIRs are interest rate prices based on the bench mark interest rates set by an individual country's central bank. For example, Short Sterling prices are based on the interest rate set by the Bank of England and the Eurodollar (not to be confused with the FX pair EUR/USD, which is also called the euro/dollar) prices are based on the interest rate set by the US's Federal Open Market Committee (FOMC).
The prices for all STIRs are calculated by taking the market's expected level for the 3 month London Interbank Offer Rate (Libor) set by the major lending banks and subtracting them from 100. So, if Short Sterling for June next year is trading in the market at 96.50 this means that the market is expecting the 3mth Libor to be around 3.50% (100.00 - 96.50) at that time.
The reason STIRs are priced like this is due to their correlation with bonds, so when central banks are expected to raise interest rates, bonds and STIRs should fall in price. Therefore, if you buy a STIR, you believe that interest rates are going to fall. See our Trading Glossary for more information.
|Market||Exchange Hours||Quoting Hours||Underlying unit risk (currency)||Min IM||Max IM||Spread per contract||Contract Months Quoted||Last Trading Day||Settlement Details||GS Charges||Minimum GS Distances(1)|
|Euribor||01:00-06:45 & 07:00-21:00||01:00-06:45 & 07:00-21:00||1 tick||10||30||2||Next 4 Quarters||2nd Business day prior to 3rd Wednesday of contract month 10:00||Official LIFFE settlement||2||10|
|Euroswiss||07:30-18:00||07:30-18:00||1 tick||10||30||2||Next 4 Quarters||2nd Business day prior to 3rd Wednesday of contract month 10:00||Official LIFFE settlement||2||10|
|Short Sterling||07:30-18:00||07:30-18:00||1 tick||10||30||2||Next 4 Quarters||3rd Wednesday of contract month 09:00||Official LIFFE settlement||2||10|
(1)The minimum distance is the Guaranteed Stop Order charge plus the spread for the market
Spread Betting & CFD trading carry a high level of risk to your capital and you can lose more than your initial deposit.
These trading products may not be suitable for all investors so seek independent advice. View full risk warning