Futures
What are Futures?
A future is a derivative consisting of a standardised forward contract, for the purchase/sale of a commodity or financial asset (underlying) at a future date, at a price fixed at the time the contract is stipulated.
Parties signing a futures contract undertake to exchange, on a pre-established date and at a price (futures price) defined by the contract, the amount of financial instruments or of a specific asset underlying the contract, the price of which is formed on the relative market. Investors purchasing a futures contract have a long position; they must buy, on expiry, the asset underlying the contract, or they can close their position by selling a future which is equivalent to that purchased, before expiry. Likewise, investors selling a futures contract have a short position and undertake to deliver the underlying asset on expiry, or they can close their position before expiry, purchasing a contract which is equivalent to that sold. An increase in the price of the future generates profit for investors that have a long position, and losses for investors that have a short position.
- Clearing margin:
Transactions in futures have a margins system, where investors opening a futures position must deposit, through an intermediary known as a Clearing member, a sum of money (initial or clearing margin), to guarantee performance on expiry. The margin is a limited percentage of the equivalent value of the underlying, which varies from 2% to 30%, depending on the future traded.
Fineco allows you to customise both the level of the clearing margins held and the positioning of the related Stop loss order. For example on the IDEM market this is always 5% lower than the clearing margin. Initially, the clearing margin is set at 7%, with the Stop loss order at 2%, but this level can be changed directly from the site and on PowerDesk2, by clicking on the drop-down Margin menu in the order entry screen, increasing it up to 30% with a stop at 25%.
Note: margins can be changed, provided derivatives in your portfolio do not already have open positions on the specific future.
Settlement
The settlement or official closing price is calculated daily for each futures contract and is displayed in the specific "Settlement of Futures" table on the Portfolio > Reporting page of the website.
After closing of the Eurex, CME and IDEM markets, all settlement prices that are used to calculate the margin and accounting positions are updated.
Note: each Stock Exchange may establish different procedures for calculating the official closing price: for details, see the information sheets for each futures contract in the Help section.
- Multiplier / Minimum lot size
On any stock-index product, the multiplier is the value in GBP/USD/EUR of each index point. For options on individual shares, the minimum lot refers to the number of shares covered by the contract.
Trading in Futures on the Fineco website
From the TRADING page you can choose to trade in European (EUREX), American (CME) or Italian (IDEM) FUTURES. The instrument that lets you trade is the book.
To enter an order, just fill in the fields:
- Quantity - number of contracts;
- Type - "limit" or "market" type orders;
- Price - if the type of order is "market" it will not be possible to enter the price; if it is a "limit" order, it will be possible to enter the desired price;
- Trading - you can select Intraday or Multiday;
- Margin - this varies depending on the trading and the instrument being traded, in the case of futures on the EUROSTOXX50 index you can choose from a minimum of 2.5 % to a maximum of 6.5% for intraday trading; and from a minimum of 7% to a maximum of 30% for multiday trading;
- Validity - There are three different ways of entering an order:
- TODAY - This allows you to enter an order that is valid until the end of the trading day (it is the default parameter that you will see on the order screen). If the order you inserted has not been executed at the close of trading, it is cancelled. Note: Stop loss orders cannot be entered without a price limit.
- IMMEDIATE OR CANCEL - This allows you to enter an order, at a specified price, that will be executed (possibly partially) at the time that it is entered. Any quantity not met at the set price will be automatically cancelled. Note: Stop loss orders cannot be entered without a price limit.
- FOK (FILL OR KILL) - the order must be executed in full or it is cancelled automatically.
It allows you to enter an order, with a price indication, which will be executed only if the book contains enough to cover the quantity in full; otherwise the entire order is automatically cancelled. This type of order is not accepted by Eurex.
Validity of Market orders:
- For futures traded on the Eurex, this type of order is restricted to validity Today.
- On the CME they can have a validity of Today or IMMEDIATE OR CANCEL
- On the IDEM, a Market order can have a validity of IMMEDIATE OR CANCEL or FOK.
Note: Market orders placed on the CME follow a "Protected market" approach. Unlike conventional market orders, which may be executed at a very different price from the current quoted price, "market orders with protection" placed on the CME are executed within a given price range.
The range of protection is normally given by the best bid/offer plus or minus 50% of the products' Non-Reviewable Trading Range. If part of the order is not executed within said range, the non-executed amount remains in the book as a limit order equal to the maximum limit of the range of protection.
For further details, please consult the CME Regulations: www.cmegroup.com/globex/ > CME Globex Reference Guide.
Cancellation
All orders placed can be cancelled from Powerbook using the 
in the monitor section
Or on the PORTFOLIO > ORDERS MONITOR > Futures page
Conditional Order
Conditional orders (Stop loss or Take profit) can be entered. In this case, the customer’s order is not shown in the book until the chosen price condition is reached (condition price). For reference the customer can choose between LAST (Last Price), ASK (Buy Price) and BID (Sell Price).
As conditional orders on derivatives are sent and handled by the reference markets, each market has different operating rules for accepting conditional offers.
EUREX - this market has very restrictive rules on accepting conditional orders.
- Condition: the last price is the same as the reference price.
- Order: the order price is the same as the condition price (the price field is not active).
The conditional order is triggered when the market reaches a key price and sends an order to market at that price. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price.
CME - this market has some rules on accepting conditional orders.
- Condition: the last price is the same as the reference price.
- Order: there is no restriction between the condition price and the price that is then sent to market so they can be different. The order type can be either “limit” or “market”.
IDEM: this market offers great flexibility in setting conditional orders.
- Condition: the last price can be more than/equal to or less than/equal to the reference price.
- Order: there is no restriction between the condition price and the price that is then sent to market so they can be different. A price limit must be entered.
Portfolio
All open positions on futures can be monitored in the Futures portfolio.
The columns contain:
- Security: the Future that makes up the position
- Market: the market on which the instrument is traded
- Currency: the currency in which the Future is traded
- Total q.ty - Q.ty instr.: the quantity that is part of the position and the quantity actually available
- Average book value: the average price of the position
- Market price: the market price of the instrument
- Book value: the book value of the instrument
- Market value: the market value of the instrument
- % Change: the current profit&loss of the position
A new order can be entered from the Portfolio by clicking on 
.
By expanding the position using the 
key, you can enter:
- PROTECT POSITION – Stop loss or Take profit orders on the entire position
- open the
- close the entire position by pressing
Trading in Derivatives on PowerDesk
Trading in derivatives is also possible through the PowerDesk platform.
You must enter the following elements in the order screen:
Quantity: The number of contracts that you wish to buy/sell;
Type: Indicates whether the order is a market (MKT) or limit (LMT) order;
Price: The buy/sell price of a contract;
Trans: Indicates the type of transaction, which may be Intraday (IN) or Overnight (OV);
Validity: There are three different ways of entering an order:
- GTC: Good-till-cancelled. This allows you to enter an order that is valid until the end of the trading day. The order is cancelled at the 17:40 hours close if it has not been executed. This parameter is pre-set in the order screen.
Stop loss orders cannot be entered without a price limit. - IOC: Immediate or cancel. This is the abbreviation for "Immediate or Cancel." It allows you to enter an order, at a specified price, that will be executed (possibly partially) at the time that it is entered. Any quantity not met at the set price will be automatically cancelled.
Stop loss orders cannot be entered without a price limit. - FOK: Fill or kill. the order must be executed in full or cancelled automatically.
It allows you to enter an order, with a price indication, which will be executed only if the book contains enough to cover the quantity in full; otherwise the entire order is automatically cancelled. This type of order is not accepted by Eurex.
Stop loss orders cannot be entered without a price limit.
Note: IOC and FOK orders are never entered in the book.
Validity of market orders
- For futures traded on the Eurex, this type of order is restricted to GTC validity.
- On the CME they can be GTC or IOC
- On the IDEM, a Market order can be associated with (IOC) or FOK validity.
Every order on derivatives must be executed on the same market day. Otherwise they will be cancelled.
Rollover (lengthening the position beyond expiry) must be performed manually by closing the contract prior to the upcoming expiry date and then setting up the same position rolled over to the next expiry date. All of the positions still open on the expiry date will be automatically closed.
Note: Market orders placed on the CME follow a "Protected market" approach. Unlike conventional market orders, which may be executed at a very different price from the current quoted price, "market orders with protection" placed on the CME are executed within a given price range.
The range of protection is normally given by the best bid/offer plus or minus 50% of the products' Non-Reviewable Trading Range. If part of the order is not executed within said range, the non-executed amount remains in the book as a limit order equal to the maximum limit of the range of protection.
For further details please refer to the CME Regulations: www.cmegroup.com/globex/ > CME Globex Reference Guide.
Conditional order
A conditional order (Stop loss or Take profit) can be entered. In this case, the customer’s order is not shown in the book until the chosen price condition is reached (condition price). For reference the customer can choose between LAST (Last Price), ASK (Buy Price) and BID (Sell Price).
The conditional order is entered in the second part of the order screen:
Each market has different rules on accepting conditional orders:
EUREX - this market has very restrictive rules on accepting conditional orders.
- Condition: the last price is the same as the reference price.
- Order: the order price is the same as the condition price (the price field is not active).
The conditional order is triggered when the market reaches a key price and sends an order to market at that price. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price.
CME - this market has some rules on accepting conditional orders.
- Condition: the last price is the same as the reference price.
- Order: there is no inextricable link between the trigger price (condition price) and the price that is then sent to market, so they can be different. The order type can be either "limit" or "market".
IDEM - this market offers great flexibility in setting conditional orders.
- Condition: the last price can be more than/equal to or less than/equal to the reference price.
- Order: there is no inextricable link between the trigger price (condition price) and the price that is then sent to market, so they can be different. A price limit must be entered.
Intraday trading
Fineco also allows you to perform intraday trading on derivatives. This function is available on the Fineco website, as well as through the PowerDesk platform and the Mobile, iPhone, iPad and Android apps.
In particular, you can operate in intraday mode on the following futures:
- EUREX market: DAX, Mini Dax, Micro Dax, Eurostoxx50, Micro EuroStoxx, Bund, Bobl, Schatz, Buxl
- CME market: Mini Nasdaq100, Mini S&P500, Mini Dow Jones, E-mini Crude Oil, E-mini Natural Gas, Mini Gold
- IDEM market: FTSE MIB, Mini FTSE MIB, Micro FTSE MIB
For these instruments you can choose the trading type (intraday or overnight) from the drop-down menu in the order entry screen. Intraday trading (IN) allows you to trade with lower guarantee margins and stop values, according to the following table:
|
Instrument |
Minimum margin |
Minimum Stop loss |
|
FTSE MIB |
2.50% |
1% |
|
Mini FTSE MIB |
2.50% |
1% |
|
Micro FTSE MIB |
2,50% |
1% |
|
DAX |
2.50% |
1% |
|
Eurostoxx50 |
2.50% |
1% |
|
Mini Dax |
2.50% |
1% |
|
Micro EuroStoxx |
2.50% |
1% |
|
Micro Dax |
2.50% |
1% |
|
Bund |
1% |
0.5% |
|
BOBL |
1% |
0.5% |
|
Schatz |
0.5% |
0.25% |
|
Buxl |
1% |
0.5% |
|
Mini Nasdaq100 |
2.50% |
1% |
|
Mini S&P500 |
2.50% |
1% |
|
Mini Dow Jones |
2.50% |
1% |
|
E-mini Crude Oil |
5% |
2.5% |
|
E-mini Natural Gas |
8% |
4% |
|
Mini Gold |
6% |
3% |
The reduced margins allow you, for example, to open a position on the EUROSTOXX50 for one lot using liquidity of around € 828 (with a 2.5% margin) rather than of around € 2,320 (with a 7% margin). On the DAX, around € 7,346 are enough instead of € 20,571 to trade with a lot.
Intraday trades must be closed by the end of the intraday trading hours. The remaining open positions will be closed automatically by Fineco at a market price. For more details, please consult the "Trading Hours" section.
Operating notes:
- Intraday positions cannot be converted into overnight positions.
- Different margins cannot be used for existing positions.
- Intraday trading is inhibited on the closing day of positions due to expiry of the instrument.
- On American public holidays the CME market closes earlier. On these days intraday trading will close 45 minutes before the market closes.
Settlement of Futures
Futures on a share index are settled daily through a mark to market mechanism, based on which contracting parties who have a loss position must pay an amount (called the variation margin) to the clearing house (which in Italy is the Cassa di Compensazione e Garanzia). The settlement price is the official price used to calculate the gains and losses of a derivative contract and is determined daily for each futures contract.
If the position is not closed during the day, Fineco will debit/credit the customer's current account directly with the variation margins determined by the difference between the opening price of the position and the daily settlement price.
If the position is not closed, each day the margin relating to the difference between the settlement price for the day and the settlement price for the previous day is credited/debited to the account.
When the position is closed, if this is done before the end of the trading day, the debit/credit will be the difference between the closing price of the position (the price of the executed order) and the value of the settlement price of the previous day.
For example, if a long position is opened on E-MINI DOW of one lot at 28,380 on 19/11/07 and is not closed during the day, if the settlement price on 19/11 is 27,772, your current account will be debited with value date 20/11 (T+1) with the variation margin of $ 608, the difference between 28,380 and 27,772.
If the settlement price on 20/11 is 28,094, with date 20/11 and value date 21/11 the amount of $ 322 will be credited, the difference between the settlement price on 19/11 and the settlement price on 20/11: 28,094 - 27,772 = $ 322.
Settlement price on 21/11: 27,506, with date 21/11 and value date 22/11 the amount of £ 588 will be debited, the difference between 27,506 and 28,094.
When your position is closed, at 37,575 for example, the amount of $ 69 will be credited: 27,575 - 27,506 (settlement price 21/11).
For example, if you have opened a long position on EUROSTOXX50 at 3,309 on 19/11/17 and did not close it during the day, if the settlement price on 19/11 is 3,280, your current account will be debited with value date 20/11 (T+1) with the variation margin of € 29, the difference between 3,309 and 3,280.
If the settlement price on 20/11 is 3,376, with date 20/11 and value date 21/11 the amount of € 96 will be credited, the difference between the settlement price on 19/11 and the settlement price on 20/11: 3,376 - -3,280 = € 96.
Settlement price on 21/11: 3,295, with date 21/11 and value date 22/11 the amount of € 81 will be debited, the difference between 3,295 and 3,376.
When your position is closed, at 3,398 for example, the amount of € 103 will be credited: 3,398 - 3,295 (settlement price 21/11).
Maximum position for derivative products
The limits relating to the maximum number of lots held by the customer are set for each futures product In detail:
Eurex market
|
Product |
Maximum position (lots) |
|
FDAX |
50 |
|
MINI DAX |
100 |
|
MICRO DAX |
10 |
|
EUROSTOXX50 |
200 |
|
MICRO EUROSTOXX |
20 |
|
DJEUROSTOXX AUT |
50 |
|
DJEUROSTOXX BANK |
200 |
|
DJEUROSTOXX OIL |
50 |
|
DJEUROSTOXX INSU |
50 |
|
DJEUROSTOXX TELE |
50 |
|
DJEUROSTOXX TECH |
30 |
|
BUND (FGBL) |
250 |
|
BOBL |
250 |
|
SCHATZ |
100 |
|
BUXL |
10 |
|
LONG-TERM EURO-BTP |
50 |
|
MEDIUM-TERM EURO-BTP |
5 |
|
SHORT-TERM EURO-BTP |
100 |
|
OAT |
25 |
|
DJSTOXX50 |
100 |
|
TECDAX |
75 |
|
VSTOXX |
200 |
CME market (Indices and Currencies)
|
Product |
Maximum position (lots) |
|
MINI S&P500 |
100 |
|
MINI NASDAQ |
100 |
|
MINI DOW JONES |
50 |
|
MINI EUROFX |
30 |
|
NIKKEI DOLL BAS |
50 |
|
E-MINI NATURAL GAS |
20 |
|
E-MINI CRUDE OIL |
50 |
|
E-MINI GOLD |
20 |
|
USDAUD |
50 |
|
BRITISH POUNDS |
50 |
|
USDCAD |
50 |
|
EUROFX |
75 |
|
SWISS FRANC |
50 |
|
JAPANESE YEN |
50 |
|
2 YEAR T NOTE |
100 |
|
10 YEAR T NOTE |
100 |
|
5 YEAR T NOTE |
100 |
|
US TREAS BOND |
100 |
|
ULTRA US T BOND |
100 |
CME Market (Agricultural products)
|
Product |
Maximum position (lots) |
|
CORN |
10 |
|
MINI CORN |
5 |
|
WHEAT |
10 |
|
MINI WHEAT |
5 |
|
OAT |
5 |
|
SOYBEAN |
10 |
|
MINI SOYBEAN |
5 |
|
SOYBEAN MEAL |
10 |
|
SOYBEAN OIL |
10 |
|
ROUGH RICE |
3 |
CME Market (Energy and metal products)
|
Product |
Maximum position (lots) |
|
E-MINI CRUDE OIL |
50 |
|
LIGHT SWEET CRUDE OIL |
10 |
|
HEATING OIL |
10 |
|
RBOB GASOLINE |
2 |
|
NATURAL GAS |
10 |
|
E-MINI NATURAL GAS |
20 |
|
GOLD |
10 |
|
E-MINI GOLD |
20 |
|
SILVER |
10 |
|
COPPER |
20 |
|
PALLADIUM |
5 |
|
PLATINUM |
5 |
IDEM market
|
Product |
Maximum position (lots) |
|
FTSE MIB |
50 |
|
Mini FTSE MIB |
49 |
|
Micro FTSE MIB |
30 |
Automatic Stop loss
With each open position, Fineco automatically associates a Stop Order, which varies according to the traded instrument, the trading position (long or short), and the margin selected.
The Stop loss is a "market price" order, which automatically closes your position in the event of excessive price variations.
For example, if you are trading futures on the EUROSTOXX50 index and you selected a 6% margin, the Stop Order will start at 4.5%.
The Automatic Stop Order is triggered when the underlying index (and not the margin) varies from the percentage specified for each individual future. For details, please see the information sheets for each futures contract in the Help section.
For example, on the Eurex market, for a position on DAX FUTURES with a margin fixed at 20%, the Automatic Stop Order will be triggered if the underlying index (DAX) varies by 15% (= 20%-5%).
For this calculation, the reference value is the average price of executed orders. At the end of the day, if there are open positions, the Stop Order value will be reintroduced the following day, still calculated on the average of executed orders, whereas the closing value at the end of the day will be used for margin adjustment operations and for subsequently calculating profits/losses at the closure of the contract.
Every time the average carrying value of the position changes, the value of Fineco’s Automatic Stop loss will change as a result.
The stop value is normally recalculated immediately and automatically within around 30 seconds of the new average price being formed. This does not exclude the possibility, in particular market conditions, of delays of a few seconds occurring in the timing of recalculation.
Note: The value of Fineco’s automatic Stop loss, if it is not a multiple value of the minimum tick, will be adjusted to the mathematically closest trading multiple.
Note: You can enter orders at a price near the automatic Stop loss, but if there is a sudden market movement, any orders made near the automatic Stop loss may not lead to the immediate recalculation of the new level of automatic Stop loss, producing as an effect the opening of a new position with a contrary sign.
Stop loss and Take profit on Futures
Automatic orders are also available, with no extra cost, for EUREX, CME and IDEM futures. They allow you to protect your positions even when you are away from your PC or cannot connect to the website, the PowerDesk platform or the apps.
Transactions on Futures are characterised by the uniqueness of the positions. This means that trading on a derivative on different days does not lead to opening several positions; the position remains unique.
For example, if on 26 October, I buy a lot on Bund Futures and on 27 October I buy another, the end result will be a single position consisting of two orders of one lot each.
This distinction is important in order to understand how to protect your operations on Futures with automatic orders.
There is in fact a Fineco automatic Stop loss on the position which closes the entire position when a certain price is reached. This Stop loss cannot be changed by the customer but it is possible to enter a Stop loss with a "tighter" price level (not less than the value of the automatic Stop loss), or a Take profit.
Automatic orders on the individual orders in the position may also be entered (Stop loss, Take profit, Trailing stop).
Stop loss and Take profit on single orders
I enter an order to buy a lot of the E-MINI DOW instrument (multiday trading) at the price of 20,515, I enter a Stop loss at the price of 20,450 and a Take profit at 20,675.
The order is processed, and my position consists of one lot. During the day I purchase another lot priced at 20,535 and I put a Trailing stop of 25 ticks (1 tick = 5 index points) and purchase two further lots at the price of 20,555, and on this order I put a Stop loss equal to 20,520 and a Take profit at 22,595. The order is executed and my position (formed of three orders) is now four lots.
Each order has conditions that sit on Fineco’s servers. Once the settings you entered are reached, a "market order" will be forwarded.
Let’s assume that the next morning the instrument is quoted at 20,595 (Take profit of the third order), Fineco will send a market order for two lots, i.e. the quantity inserted with the third order. The total position will be reduced, therefore, to two lots.
At this point the instrument abruptly reverses its trend, passing from 20,595 to 20,470 (Trailing stop inserted on the second order, calculated as the highest level reached - 25 ticks *5 = 22,595-125 = 20,470): Fineco will send a market order for one lot. The position will be reduced to one lot. The instrument continues its descent to the price of 20,515 (Stop loss of the first order), Fineco will send a market order for one lot which closes the position.
Stop loss and Take profit on the position
Using the example above again, suppose we have a position formed of three orders on the E-MINI DOW instrument like the one previously described. The overall position consists of four lots and the share is quoted at 20,595.
I decide to place a Stop loss and a Take profit on the position equal to 20,550 and 20,645 respectively. As soon as E-MINI DOW reaches 20,645, a market order is sent equal to four lots, which closes the entire position and cancels all the conditions previously set on the single orders.
Important notes:
> The combined use of Stop loss and/or Take profit on the order and on the position may not result in the immediate closing of the position, thereby producing its rollover.
In addition, once the condition set on the position occurs, it will no longer be possible to enter the SL/TP on the same position.
> Automatic orders set on the single order will not delete orders already entered (including conditional orders) but not yet executed.
Suppose I have a long position on the X instrument formed of two lots at 22,850 with a Stop loss on the order at 22,800 and a Take profit on the position at 22,900. I decide to extend the position, entering a new buy order of one lot with a limit price equal to 22,825; the order is entered but not yet executed.
Suppose the price condition at 22,850 is met, triggering the Stop loss: the order is executed but the position will still be open due to the buy order of one lot still entered but not executed. Moreover, the Take profit at 22,900 on the position will be deleted.
To close the position I will have to cancel the order still in place.
> Automatic orders set on the position will close the position and, at the same time, delete orders already entered (including conditional orders) but not yet executed.
Suppose I have a long position on the Y instrument formed of two lots at 22,850 with a Take profit on the position at 22,900. I decide to set a conditional order on the position for the sale of two lots at 23,000; the order will be monitored but the price condition has not yet been met.
If the security increases to 22,900, the Stop loss will be triggered and the two lots will be sold, thus closing the position and deleting the conditional order that is still in place.
> Please note that intraday operations are blocked on the instrument’s maturity closing day. Consequently, only multiday positions can be opened which, if not closed at the end of trading hours, will be closed by Fineco.
> Upon the closing of intraday trading, (i.e., at 20:30 hours for CME Energy and Metals Futures) the conditions entered on the individual orders will not be checked by Fineco’s servers. This implies that should there be, in the period between the closing of the intraday trading (20:30 hours in the example) and the time when the position is closed by Fineco, any Stop loss, Take profit or Trailing stop settings, these orders will be rejected and the position will be closed by Fineco.
> Before Fineco sends the automatic Stop loss, any orders entered on the position which is about to close, will be cancelled.
> Trade & Reverse cancels any Stop loss and Take profit placed on the position, but does not modify the settings placed on the single orders which remain active.
Suppose, like in the previous example, I have a long position on the X instrument formed of two lots at 22,850 with a Stop loss on the order at 22,800 and a Take profit on the position at 22,900. I decide to extend the position, entering a new buy order of one lot with the limit price equal to 22,825 and a Trailing stop at five ticks; the order is entered but not executed yet.
I decide to reverse the position by placing a sell order of four lots with market price; the order is executed but the position will be short for one lot.
As a result, the Take profit set on the position at 22,900 will be cancelled but the Stop loss and Trailing stop orders set on the single orders will remain active.
On the CME market, automatic orders can only be used for instruments available in intraday mode and they are valid for one day only. Intraday positions, still open at 20:30 hours on any day, will automatically be closed by Fineco and the automatic orders associated with them will be deleted at the same time.
On the other hand, conditions set with automatic orders, on overnight positions (for IDEM and Eurex market instruments), are valid for 30 days. This means that if I enter an automatic GTD order and the order is executed after 10 days, the Stop loss, Take profit and Trailing stop settings will be valid for a further 20 days, i.e. 30 days in total.
> Conditional orders have a one-day validity and, if not executed, the conditions associated with them (Stop loss, Take profit or Trailing stop) will be cancelled on expiry of the order.
Intraday and Multiday Trading Hours
| CME | Multiday Trading Hours | |
| Stock Indices | 23:00 - 22:00 | |
| Energy Products and Metals | 23:00 - 22:00 | |
| Agricultural Products* | 23:00 - 19:45 | |
| Currency Pairs | 23:00 - 22:00 | |
| Bonds | 23:00 - 22:00 | |
| * From 14:45 to 15:30 it is possible to place orders which will be executed by the market only starting from 15:30 | ||
| EUREX | Multiday Trading Hours | |
| Indices | 01:00 - 21:10 | |
| Sectorial Indices and Vstoxx | 06:50 - 21:10 | |
| Bund, Buxl, Bobl, Schatz | 01:00 - 21:10 | |
| BTP, OAT | 06:50 - 18:10 | |
| IDEM | Multiday Trading Hours | |
| Futures on FTSE MIB Index | 06:45 - 21:00 | |
Strategy: it is possible to set, modify and cancel stop loss / take profit / trailing stops associated with Multiday orders / positions during Multiday trading hours. The control is active during all market opening hours.
| CME | Intraday Trading Hours | Automatic closing of positions * | |
| Stock Indices | 07:00 - 20:50 | 20:52 | |
| Energy Products and Metals | 07:00 - 20:50 | 20:52 | |
| Agricultural Products | 07:00 - 19:15 | 19:17 | |
| Currency Pairs | 07:00 - 20:50 | 20:52 | |
| Bonds | 07:00 - 21.15 | 21:16 | |
| * The positions are closed automatically by Fineco starting from the indicated time | |||
| EUREX | Intraday Trading Hours | Automatic closing of positions * | |
| Indices | 06:50 - 20:30 | 20:33 | |
| Sectorial Indices e Vstoxx | 06:50 - 20:30 | 20:33 | |
| Bund, Buxl, Bobl, Schatz | 06:50 - 20:30 | 20:33 | |
| BTP, OAT | 06:50 - 17:30 | 17:33 | |
| * The positions are closed automatically by Fineco starting from the indicated time | |||
| IDEM | Intraday Trading Hours | Automatic closing of positions * | |
| Futures on FTSE MIB Index | 06:45 - 20:30 | 20:30 | |
| * The positions are closed automatically by Fineco starting from the indicated time | |||
Strategy: it is possible to set, modify and delete stop losses / take profit / trailing stops associated with Intraday orders / positions during Intraday trading hours.
Taxation considerations
Accounting and transactions on the account
- Value date
All derivative transactions are settled on the business day following the operation. The different timing compared to share transactions (derivatives 1 day, shares 3 days) can lead to temporary account overdrafts to which the current account overdraft rate will be applied. - Current account withdrawals-deposits
Fineco recalculates your gains and your losses on a daily basis by referring to the Closing Price of the day.
These adjustments are made by crediting or debiting your ordinary current account. The profit shown in the portfolio at the closing of the position is determined by the sum of all credits and debits carried out. - Capital gains
The Capital Gain treatment on derivatives is identical to that on shares or debt securities.
Intraday 1%
Service features
The "intraday 1%" service offers the possibility to trade on Futures using a higher leverage compared to Intraday and Multiday operations.
The following are the main features of the Intraday 1% service:
• It is possible to place only "Market" type orders.
• Default leverage: each position has a fixed margin equal to 1% of the value of the transaction and it is not possible to change it.
• There is an Automatic Stop Loss set by the Bank at 0.5%.
• Intraday operation: the positions are only valid for the day and if not closed independently, the Bank will close them automatically at the end of the day.
• It is not possible to set a Stop Loss, Take Profit or Trailing Stop on orders and open positions with Speed Up Futures.
• It is possible to simultaneously open a Speed Up Future position and an Intraday position in addition to an Overnight position.
• It is possible to close or reverse the sign of the position by placing additional orders.
The user has the possibility to independently close the position, reduce it, increase it or reverse it during the day before closing time. When the bank closes the position automatically, it will disappear from the portfolio.
The Intraday 1% service is available from the Fineco website, App and PowerDesk.
Trading Hours
|
|
Open |
Close |
|
IDEM |
07:00 |
20:30 |
|
EUREX Index |
06:50 |
20:30 |
|
EUREX Bond |
06:50 |
20:30 |
|
EUREX Bond ITA |
06:50 |
17:30 |
|
CME |
07:30 |
20:50 |
Maximum lots
The following is the maximum position (expressed in lots) that can be held for each instrument:
|
Product |
Maximum Speed Up position (lots) |
|
FTSE MIB |
10 |
|
Mini FTSE MIB |
50 |
|
FDAX |
5 |
|
Mini DAX |
15 |
|
EUROSTOXX50 |
30 |
|
BUND (FGBL) |
10 |
|
BTP |
10 |
|
MINI S&P500 |
10 |
|
MINI NASDAQ |
10 |
|
MINI DOW JONES |
10 |
|
LIGHT SW CRUDE OIL |
5 |
|
E-MINI CRUDE OIL |
10 |
Futures traded on IDEM and Eurex
You may trade on Futures listed on Eurex and IDEM via the Fineco website, PowerDesk and Mobile.
Stock index futures
|
Name |
Symbol |
Size |
|
FIB |
€ 5 x index point |
|
|
MINI |
€ 1 x index point |
|
|
MICRO |
€ 0,20 x index point |
|
|
FDAX |
€ 25 x index point |
|
|
FDAX |
€ 5 x index point |
|
|
Micro Dax |
FDXS |
€ 1 x index point |
|
FESX |
€ 10 x index point |
|
|
Micro EuroStoxx |
FSXE |
€ 1 x index point |
|
FTDX |
€ 10 x index point |
|
|
FVS |
€ 100 x index point |
Futures on bonds
|
Nome |
Simbolo |
Dimensione |
|
FGBL |
€ 100.000 |
|
|
FGBM |
€ 100.000 |
|
|
FGBS |
€ 100.000 |
|
|
FGBX |
€ 100.000 |
|
|
FBTP |
€100.000 |
|
|
FBTS |
€ 100.000 |
|
|
FBTM |
€ 100.000 |
|
|
FOAT |
€ 100.000 |
Futures on sector indices
|
Name |
Symbol |
Size |
|
FESA |
9.675 |
|
|
FESB |
14.770 |
|
|
FESE |
15.905 |
|
|
FESI |
10.145 |
|
|
FESY |
13.490 |
|
|
FEST |
22.660 |
NB: remember that the Call Centre can be contacted only for closing open positions. Orders cannot be given for opening new positions.
BOBL
|
Contract features |
|
|
Underlying |
5-year bond issued by the German Federal Government. |
|
Quote |
It is quoted as a percentage to two decimal places |
|
Minimum price change |
1 tick = 0.01 = € 10 |
|
Contract size |
€ 100.000 Nominal |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. The delivery date is the tenth day of the month of maturity. If this is a public holiday, the contract will expire on the next trading day. The derivative contract, however, matures two Stock Exchange trading days prior to the day of delivery of the underlying. Trading ends at 11:30 hours. A new maturity date for the future is listed on the first day the Stock Exchange is open after the last trading day of the previous maturity. The symbols of the futures maturity dates reflect the year’s monthly deadlines: |
|
Last trading day |
Two days before the monthly maturity date. Trading ends at 11:30 hours.
|
|
Delivery of the underlying |
Fineco does not deliver the underlying on the maturity date of the related future. |
|
Trading margins |
From 1% to 1.5% of the equivalent value of the operation for intraday positions. From 2% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 0.5% (1% margin) to 29% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 2.00 per lot. |
|
Eurex activation |
To receive the push data and operate on German Futures you have to request activation of the quotes, after having signed the contractual addition for derivatives and the Deutsche Börse disclosure. |
Bund
|
Contract features |
|
|
Underlying |
Notinal long-term German Government bond with a remaining term comprised between 8.5 and 10.5 years. |
|
Quote |
It is quoted as a percentage to two decimal places |
|
Minimum price change |
1 tick = 0.01 = € 10 |
|
Contract size |
€ 100,000 Nominal |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. The delivery date is the tenth day of the month of maturity. If this is a public holiday, the contract will expire on the next trading day. |
|
Last trading day |
Two days before the monthly maturity date. Trading ends at 11:30 hours. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the maturity date of the related future. |
|
Trading margins |
From 1% to 1.5% of the equivalent value of the operation for intraday positions. From 2% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 0.5% (1% margin) to 29% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 2.00 per lot |
|
Eurex activation |
To receive the push data and operate on German Futures you have to request activation of the quotes, after having signed the contractual addition for derivatives and the Deutsche Börse disclosure. |
Buxl
|
Contract features |
|
|
Underlying |
30-year bond issued by the German Federal Government with a 4% coupon. |
|
Quote |
It is quoted as a percentage to two decimal places |
|
Minimum price change |
1 tick = 0.01 = € 20 |
|
Contract size |
100,000 Nominal (price of the instrument * 100,000/100) |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. The delivery date is the tenth day of the month of maturity. If this is a public holiday, the contract will expire on the next trading day. |
|
Last trading day |
Two days before the monthly maturity date. Trading ends at 11:30 hours. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the maturity date of the related future. |
|
Trading margins |
From 1% to 1.5% of the equivalent value of the operation for intraday positions. From 2% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 0.5% (1% margin) to 29% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 2.00 per lot |
|
Eurex activation |
To receive push data and trade on German futures, you must request activation of the quotes, after signing the contract addition concerning derivatives and the Deutsche Börse disclosure. |
Schatz
|
Contract features |
|
|
Underlying |
2-year bond issued by the German Federal Government. |
|
Quote |
It is quoted as a percentage to 3 decimal places |
|
Minimum price change |
1 tick = 0.005 = € 5 |
|
Contract size |
€ 100,000 Nominal |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. The delivery date is the tenth day of the month of maturity. If this is a public holiday, the contract will expire on the next trading day. |
|
Last trading day |
Two days before the monthly maturity date. Trading ends at 11:30 hours. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the maturity date of the related future. |
|
Trading margins |
0.5% of the equivalent value of the operation for intraday positions. From 1% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 0.25% (0.5% margin) to 29% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 2.00 per lot |
|
Eurex activation |
To receive the push data and operate on German Futures you have to request activation of the quotes, after having signed the contractual addition for derivatives and the Deutsche Börse disclosure. |
Dax Futures
|
Contract features |
|
|
Underlying |
DAX |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of € 25 |
|
Minimum price change |
1 tick = 0.5 index point= € 12.5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract expires on the third Friday of the expiry month at 13:00. If it is a non-trading day on the Stock Market, the maturity date is brought forward to the first preceding trading day. A new expiry date is listed on the first trading day after the last trading day of the previous expiry. |
|
Last trading day |
This is the third Friday of the month, if it is a trading day; otherwise the last day is brought forward to the first trading day preceding the third Friday. Trading ends with the start of Xetra electronic trading at 12:00 hours. All contracts must be closed the day before by 20:00 hours. From 20:00-20:30 hours Fineco sends orders to market for the automatic closing of open positions. |
|
Trading margins |
From 2.5% to 6.5% of the equivalent value of the operation for intraday positions. From 7% to 30% of the transaction equivalent value for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 0.95 per lot |
|
Eurex activation |
To receive push data and trade on German Futures, you must activate the online service, after having signed the contract addition for derivatives and the Deutsche Börse disclosure. |
Mini DAX
This index was set up to limit risk for investors who want to trade in derivatives but with a lower exposure than the DAX. It replicates DAX trading specifications.
|
Contract features |
|
|
Underlying |
DAX |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of € 5 |
|
Minimum price change |
1 tick = 1 index point= € 5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract matures on the third Friday of the maturity month at 12:00. If it is a non-trading day on the Stock Market, the maturity date is brought forward to the first preceding trading day. A new expiry date is listed on the first trading day after the last trading day of the previous expiry. |
|
Last trading day |
This is the third Friday of the month, if it is a trading day; otherwise the last day is brought forward to the first trading day preceding the third Friday. Trading ends with the start of Xetra electronic trading at 12:00 hours. All contracts must be closed the day before by 20:00 hours. From 20:00-20:30 hours Fineco sends orders to market for the automatic closing of open positions. |
|
Trading margins |
From 2.5% to 6.5% of the equivalent value of the operation for intraday positions. From 7% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
Today |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 0.75 per lot |
|
Eurex activation |
To receive push data and trade on German Futures, you must activate the online service and have signed the contract addition for derivatives and the Deutsche Börse disclosure. |
Micro Dax
|
Contract features |
|
|
Underlying |
DAX |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of € 1 |
|
Minimum price change |
1 tick = 1 index point= € 1 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract matures on the third Friday of the maturity month at 12:00. If it is a non-trading day on the Stock Market, the maturity date is brought forward to the first preceding trading day. A new expiry date is listed on the first trading day after the last trading day of the previous expiry. |
|
Last trading day |
This is the third Friday of the month, if it is a trading day; otherwise the last day is brought forward to the first trading day preceding the third Friday. Trading ends with the start of Xetra electronic trading at 12:00 hours. All contracts must be closed the day before by 20:00 hours. From 20:00-20:30 hours Fineco sends orders to market for the automatic closing of open positions. |
|
Trading margins |
From 2.5% to 6.5% of the equivalent value of the operation for intraday positions. From 7% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
Today |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 0.75 per lot |
|
Eurex activation |
To receive push data and trade on German Futures, you must activate the online service and have signed the contract addition for derivatives and the Deutsche Börse disclosure. |
DJ Stoxx 50
|
Contract features |
|
|
Underlying |
DJ Stoxx 50 index |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of € 10 |
|
Minimum price change |
1 tick = 1 index point= € 10 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract expires on the third Friday of the expiration month at 11:00 hours. If it is a non-trading day on the Stock Market, the maturity date is advanced to the first preceding trading day. A new expiry date is listed on the first trading day after the last trading day of the previous expiry. The symbols of the expiry dates reflect annual monthly installments: |
|
Last trading day |
This is the third Friday of the month, if it is a trading day; otherwise the last day is brought forward to the first trading day preceding the third Friday. |
|
Trading margins |
From 7% to 30% of the transaction equivalent value. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract (both in Italy and abroad). Automatic Stop Losses vary from 2% (7% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 0.95 per lot |
|
Eurex activation |
To receive push data and trade on German Futures, you must activate the online service, after having signed the contract addition for derivatives and the Deutsche Börse disclosure. |
Euro Stoxx 50
|
Contract features |
|
|
Underlying |
Eurostoxx 50 index |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of € 10 |
|
Minimum price change |
1 tick = 1 index point = € 10 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract matures on the third Friday of the maturity month at 12:00. If it is a non-trading day on the Stock Market, the maturity date is advanced to the first preceding trading day. A new expiry date is listed on the first trading day after the last trading day of the previous expiry. The symbols of the expiry dates reflect annual monthly installments: |
|
Last trading day |
This is the third Friday of the month, if it is a trading day; otherwise the last day is brought forward to the first trading day preceding the third Friday. |
|
Trading margins |
From 2.5% to 6.5% of the equivalent value of the operation for intraday positions. From 7% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 0.95 per lot |
|
Eurex activation |
To receive push data and trade on German Futures, you must activate the online service, after having signed the contract addition for derivatives and the Deutsche Börse disclosure. |
Micro EuroStoxx
|
Contract features |
|
|
Underlying |
Eurostoxx 50 index |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of € 1 |
|
Minimum price change |
1 tick = 0.5 index point = € 0.5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract matures on the third Friday of the maturity month at 12:00. If it is a non-trading day on the Stock Market, the maturity date is advanced to the first preceding trading day. A new expiry date is listed on the first trading day after the last trading day of the previous expiry. The symbols of the expiry dates reflect annual monthly installments: |
|
Last trading day |
This is the third Friday of the month, if it is a trading day; otherwise the last day is brought forward to the first trading day preceding the third Friday. |
|
Trading margins |
From 2.5% to 6.5% of the equivalent value of the operation for intraday positions. From 7% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 0.75 per lot |
|
Eurex activation |
To receive push data and trade on German Futures, you must activate the online service, after having signed the contract addition for derivatives and the Deutsche Börse disclosure. |
VSTOXX
|
Contract features |
|
|
Underlying |
VSTOXX index |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
EUR 100 per volatility index point |
|
Minimum price change |
1 tick = 0.5 index point = € 5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The next eight monthly maturity dates are quoted. The contract expire 30 calendar days prior to the third Friday of the expiration month of the underlying options, at 12:00 CET. This is usually the Wednesday prior to the second last Friday of the respective expiration/maturity month. A new expiry date is listed on the first trading day after the last trading day of the previous expiry. The symbols of the expiry dates reflect annual monthly installments: |
|
Last trading day |
It is equal to the expiry date if this is a trading day; otherwise the last trading day is brought forward to the first trading day prior to the expiry date. All contracts must be closed the day before by 20:00 hours. From 20:00-20:30 hours Fineco sends orders to market for the automatic closing of open positions. |
|
Trading margins |
From 10% to 19% of the trade value for intraday positions. From 20% to 30% of the trade value for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 5% (10% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 0.95 per lot |
|
Eurex activation |
To receive push data and trade on German Futures, you must activate the online service, after having signed the supplemental contract for derivatives trading services and the Deutsche Börse disclosure. |
TecDAX
|
Contract features |
|
|
Underlying |
TecDax Index |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of € 10 |
|
Minimum price change |
1 tick = 0.5 index point = € 5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract matures on the third Friday of the maturity month at 12:00. If it is a non-trading day on the Stock Market, the maturity date is advanced to the first preceding trading day. A new expiry date is listed on the first trading day after the last trading day of the previous expiry. The symbols of the expiry dates reflect annual monthly instalments: |
|
Last trading day |
This is the third Friday of the month, if it is a trading day; otherwise the last day is brought forward to the first trading day preceding the third Friday. |
|
Trading margins |
From 7% to 30% of the transaction equivalent value. The margin is fixed by the user and can be modified each day only if there are no open positions on the derivatives (both in Italy and abroad). The Automatic Stop Losses vary from 2% (7% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 0.95 per lot |
|
Eurex activation |
To receive push data and trade on German Futures, you must activate the online service, after having activated PowerDesk, signed the contract addition for derivatives and the Deutsche Börse disclosure. |
OATS
|
Contract features |
|
|
Underlying |
A bond issued by the French government with an original maturity shorter than 17 years, residual life of between 8.5 and 10.5 years and a 6% coupon |
|
Quote |
It is quoted as a percentage to two decimal places |
|
Minimum price change |
1 tick = 0.01 = € 10 |
|
Contract size |
€ 100,000 Nominal (price of the instrument * 100,000/100) |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. The delivery date is the tenth day of the month of maturity. If this is a public holiday, the contract will expire on the next trading day. |
|
Last trading day |
Two days before the monthly maturity date. Trading ends at 11:30 hours. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the maturity date of the related future. |
|
Trading margins |
From 1.5% to 29.5% of the transaction value. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. Automatic stop losses vary from 0.70% (1.5% margin) to 28.80% (29.5% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 2.00 per lot |
|
Eurex activation |
To receive push data and trade on German futures, you must request activation of the quotes, after signing the contract addition concerning derivatives and the Deutsche Börse disclosure. |
Sector indices
This information sheet summarises the main characteristics of these financial products which differ from an operating point of view with respect to other Eurex futures because of the presence of the Market Makers on the market who ensure contract liquidity.
|
Contract features |
|
|
Underlying |
DJ Eurostoxx Index in the relative sector |
|
Quote |
It is quoted in index points. |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of € 50. |
|
Minimum price change |
1 tick = 0.1 index point= € 5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract expires on the third Friday of the expiration month at 11:00 hours. If it is a non-trading day on the Stock Market, the maturity date is advanced to the first preceding trading day. A new expiry date is listed on the first trading day after the last trading day of the previous expiry. The symbols of the expiry dates reflect annual monthly installments: |
|
Last trading day |
This is the third Friday of the month, if it is a trading day; otherwise the last day is brought forward to the first trading day preceding the third Friday. |
|
Trading margins |
From 7% to 30% of the transaction equivalent value. The margin is fixed by the user and can be modified each day only if there are no open positions on the derivatives (both in Italy and abroad). The Automatic Stop Losses vary from 2% (7% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. In addition, a conditional buy order is accepted if the reference price is higher than the last price, whereas a conditional sell order is accepted if the reference price is less than the last price. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 2.00 per lot |
|
Eurex activation |
To receive push data and trade on German Futures, you must activate the online service, after having signed the contract addition for derivatives and the Deutsche Börse disclosure. |
FTSE MIB
Traded on the IDEM (Italian Derivatives Market) since 2004, according to specific contract standards.
- Trading hours
- Features:
|
Contract features |
|
|
Underlying |
FTSE MIB Index |
|
Quote |
It is quoted in index points. |
|
Value of an index point (multiplier of the contract) |
€ 5 |
|
Minimum price change |
5 index points (€ 25) |
|
Contract size |
Equal to the product of the price of the future and the value of the contract multiplier (€ 5). Example: if the price of the future on the FTSE MIB is equal to 27,500 index points, the contract size is 27500 x 5 = € 137,500 |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract expires on the third Friday of the month at 08:30 hours. |
|
Last trading day |
This is the third Friday of the month, if a trading day, otherwise it is the first preceding trading day. |
|
Daily closing price |
The price is calculated based on the weighted average of prices of the last 10% of FTSE MIB contracts traded on the market; the settlement price is given by the index value calculated on opening prices, on the day of expiry, of index shares. |
|
Trading margins |
From 2.5% to 6.5% of the equivalent value of the operation for intraday positions. From 7% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market order = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled FOK = Fill or Kill |
|
Acceptance of orders |
All orders (standard, conditional and automatic) can only be placed during the trading phase |
|
Conditional orders |
The price limit must be entered for this type of order |
|
Costs |
|
|
€ 0.95 per lot |
|
Activation |
|
|
Receiving push data on IDEM is free of charge |
Mini FTSE MIB
This index was set up to limit risk for investors who want to trade in derivatives but with a lower exposure than the FTSE MIB. It replicates FTSE MIB trading specifications.
|
Contract features |
|
|
Underlying |
FTSE MIB Index |
|
Quote |
It is quoted in index points. |
|
Value of an index point (multiplier of the contract) |
€ 1 |
|
Minimum price change |
5 index points (€ 5) |
|
Contract size |
Equal to the product of the price of the future and the value of the contract multiplier (€ 1). Example: if the price of the future on the FTSE MIB is equal to 27.500 index points, the contract size is 27,500 x 1 = € 27,500 |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract expires on the third Friday of the month at 08:30 hours. |
|
Last trading day |
This is the third Friday of the month, if a trading day, otherwise it is the first preceding trading day. |
|
Daily closing price |
The price is calculated based on the weighted average of prices of the last 10% of Mini contracts traded on the market; the settlement price is given by the index value calculated from opening prices, on the day of expiry, of index shares. |
|
Trading margins |
From 2.5% to 6.5% of the equivalent value of the operation for intraday positions. From 7% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market orders = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled FOK = Fill or Kill |
|
Acceptance of orders |
All orders (standard, conditional and automatic) can only be placed during the trading phase |
|
Conditional orders |
The price limit must be entered for this type of order |
|
Fee plan |
|
|
€ 0.95 per lot |
|
Activation |
|
|
Receiving push data on IDEM is free of charge |
Micro FTSE MIB
This index was set up to limit risk for investors who want to trade in derivatives but with a lower exposure than the FTSE MIB. It replicates FTSE MIB trading specifications.
|
Contract features |
|
|
Underlying |
FTSE MIB Index |
|
Quote |
It is quoted in index points. |
|
Value of an index point (multiplier of the contract) |
€ 0,20 |
|
Minimum price change |
5 index points (€ 1) |
|
Contract size |
Equal to the product of the price of the future and the value of the contract multiplier (€ 0.2). Example: if the price of the future on the FTSE MIB is equal to 17,800 index points, the contract size is 17,800 x 0.2 = € 3,560 |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The contract expires on the third Friday of the month at 08:30 hours. |
|
Last trading day |
This is the third Friday of the month, if a trading day, otherwise it is the first preceding trading day. |
|
Daily closing price |
The price is calculated based on the weighted average of prices of the last 10% of Mini contracts traded on the market; the settlement price is given by the index value calculated from opening prices, on the day of expiry, of index shares. |
|
Trading margins |
From 2.5% to 6.5% of the equivalent value of the operation for intraday positions. From 7% to 30% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market orders = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled FOK = Fill or Kill |
|
Acceptance of orders |
All orders (standard, conditional and automatic) can only be placed during the trading phase |
|
Conditional orders |
The price limit must be entered for this type of order |
|
Fee plan |
|
|
€ 0.95 per lot |
|
Activation |
|
|
Receiving push data on IDEM is free of charge |
Short- term Euro-BTP
|
Contract features |
|
|
Underlying |
A bond issued by the Italian government with a residual life of between 2 and 3.25 years and a 6% coupon |
|
Quote |
It is quoted as a percentage to two decimal places |
|
Minimum price change |
1 tick = 0.01 = € 10 |
|
Contract size |
€ 100,000 Nominal (price of the instrument * 100,000/100) |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. The delivery date is the tenth day of the month of maturity. If this is a public holiday, the contract will expire on the next trading day. |
|
Last trading day |
Two days before the monthly maturity date. Trading ends at 11:30 hours. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the maturity date of the related future. |
|
Trading margins |
From 1.5% to 29.5% of the transaction value. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. Automatic stop losses vary from 0.70% (1.5% margin) to 28.80% (29.5% margin). |
|
Operating Notes |
|
|
Order types |
Market orders = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 2.00 per lot |
|
Eurex activation |
To receive push data and trade on German futures, you must request activation of the quotes, after signing the contract addition concerning derivatives and the Deutsche Börse disclosure. |
Medium-term Euro-BTP
|
Contract features |
|
|
Underlying |
A bond issued by the Italian government with a residual life of between 4.5 and 6 years and a 6% coupon |
|
Quote |
It is quoted as a percentage to two decimal places |
|
Minimum price change |
1 tick = 0.01 = € 10 |
|
Contract size |
€ 100,000 Nominal (price of the instrument * 100,000/100) |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. The delivery date is the tenth day of the month of maturity. If this is a public holiday, the contract will expire on the next trading day. |
|
Last trading day |
Two days before the monthly maturity date. Trading ends at 11:30 hours. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the maturity date of the related future. |
|
Trading margins |
From 1.5% to 29.5% of the transaction value. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. Automatic stop losses vary from 0.70% (1.5% margin) to 28.80% (29.5% margin). |
|
Operating Notes |
|
|
Order types |
Market orders = 0, zero, in price field + GTC |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 2.00 per lot |
|
Eurex activation |
To receive push data and trade on German futures, you must request activation of the quotes, after signing the contract addition concerning derivatives and the Deutsche Börse disclosure. |
Long-term Euro-BTP
|
Contract features |
|
|
Underlying |
A bond issued by the Italian government with an original maturity shorter than 16 years, remaining maturity of between 8.5 and 11 years and a 6% coupon |
|
Quote |
It is quoted as a percentage to two decimal places |
|
Minimum price change |
1 tick = 0.01 = € 10 |
|
Contract size |
€ 100,000 Nominal (price of the instrument * 100,000/100) |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. The delivery date is the tenth day of the month of maturity. If this is a public holiday, the contract will expire on the next trading day. |
|
Last trading day |
Two days before the monthly maturity date. Trading ends at 11:30 hours. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the maturity date of the related future. |
|
Trading margins |
From 2% to 30% of the transaction value. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. Automatic stop losses vary from 1% (2% margin) to 29% (30% margin). |
|
Operating Notes |
|
|
Order types |
Market orders = 0, zero, in price field + GTC At-best order not available |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Eurex only accepts conditional orders upon occurrence of which a market order is sent. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
€ 2.00 per lot |
|
Eurex activation |
To receive push data and trade on German futures, you must request activation of the quotes, after signing the contract addition concerning derivatives and the Deutsche Börse disclosure. |
Futures traded on CME (Indices, Currencies and Government Bonds)
Trading on CME (Indices, Currencies and Government Bonds) derivatives is available on Fineco's website, PowerDesk and the Apps. Fineco is directly linked to the Chicago stock exchange to allow its customers not only to trade efficiently, but also to receive real-time stock prices free of charge.
- Stock-index futures
|
Name |
Symbol |
Size |
|
NQ |
$20 x index point |
|
|
E.g. |
$50 x index point |
|
|
YM |
$5 x index point |
|
|
NKD |
$57.000 |
- Futures on currencies
|
Name |
Symbol |
Size |
|
E7 |
€62,500 |
|
|
6E |
€125,000 |
|
|
6B |
GBP 62,500 |
|
|
6S |
CHF125,000 |
|
|
6A |
$75,500 |
|
|
6C |
$82,000 |
|
|
6J |
Yen12,500,000 |
- Futures on Government Securities
|
Name |
Symbol |
Size |
|
UB |
$100.000 |
|
|
ZB |
$100.000 |
|
|
ZT |
$200.000 |
|
| 5 Year Treasury Note | ZF |
$100.000 |
| ZN |
$100.000 |
Trading, the fee plan and margin management are performed directly in the Multicurrency service (in dollars).
This means customers can change the currency whenever they want and so directly manage the related GBP/dollar exchange rate risk.
Trading on derivatives is recognized at T+1, while the GBP/dollar exchange rate has a value date of T+2.
Therefore, a currency request to trade US futures guarantees available funds for trading. Whereas, for open Overnight positions, the account could become overdrawn because of the different recording of exchange and derivatives transactions.
- Activation
In order to operate, display the prices and trade instruments on the CME market, the following free, online and immediate activations are necessary:
- Derivatives trading service
- CME derivatives: market data
All activations are available in the ACCOUNT MANAGEMENT > Managing services > Trading and investments area of the website.
You also need a “Dynamic” customer profile, which can be confirmed in the ACCOUNT MANAGEMENT > Personal profile area.
Note: you may only contact the Call Centre for closing open positions. Orders cannot be given for opening new positions.
For more information on the CME, please read the Stock Exchange Disclosure provided in the TRADING > Futures > CME area of the website.
Note 2: To facilitate consultation, the prices of the Treasury Notes listed on the CME are converted from 32nds into decimals and multiplied by 100.
Example: the 10 YEAR T NOTE DEC14 - ZNZ4 instrument has a market price in 32nds of 126'070
The Bank shows the price of the instrument, first by converting the component expressed in 32nds into decimal notation and then multiplying the price in decimals by 100: 7/32 = 0.21875.
The price in decimals equals 126 + 0.21875 = 126.21875 and is then multiplied by 100, obtaining 12,621.875.
To keep the equivalent value of the traded lot unchanged, the multiplier is divided by 100.
Australian Dollar
|
Contract features |
|
|
Underlying |
Australian dollar-USA dollar exchange rate |
|
Quote |
It is quoted in points on the exchange rate |
|
Value of an index point (multiplier of the contract) |
A value of $10 is given to each index point |
|
Contract value |
100,000 Australian dollars |
|
Minimum tick |
0.0001 ($10) |
|
Contract size |
The size of the contract is given by the product between the AUDUSD exchange rate price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on PowerDesk2. The symbols for the maturity dates are: |
|
Last trading day |
This is two days before the Wednesday of the maturity. All contracts must be closed the day before. From 21:00 hours onwards, all market orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 3% to 30% of the equivalent value of the transaction. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
With a margin at 3%, the stop level is set at 1% of the equivalent value of the position; with a margin at 30%, the stop is equal to 28%. |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading. |
|
Costs |
|
|
Fees |
$2.50 per lot |
|
CME Activation |
Activation is online, free and immediate. |
British Pound
|
Contract features |
|
|
Underlying |
GPB-USD exchange rate |
|
Quote |
It is quoted in points on the exchange rate |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $6.25 |
|
Contract value |
62,500 British pounds |
|
Minimum tick |
0,0001 |
|
Contract size |
The contract size is given by the product between the price of the euro/dollar exchange rate and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on PowerDesk2. The symbols for the maturity dates are: |
|
Last trading day |
This is two days before the Wednesday of the maturity. All contracts must be closed the day before. From 21:00 hours onwards, all market orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 3% to 30% of the equivalent value of the transaction. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
With a margin at 3%, the stop level is set at 1% of the equivalent value of the position; with a margin at 30%, the stop is equal to 28%. |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading. |
|
Costs |
|
|
Fees |
$2.50 per lot |
|
CME Activation |
Activation is online, free and immediate. |
Canadian Dollar
|
Contract features |
|
|
Underlying |
Canadian dollar-USA dollar exchange rate |
|
Quote |
It is quoted in points on the exchange rate |
|
Value of an index point (multiplier of the contract) |
A value of $10 is given to each index point. |
|
Contract value |
100,000 Canadian dollars |
|
Minimum tick |
0.00005 = ($5) |
|
Contract size |
The size of the contract is given by the product between the CADUSD exchange rate price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on PowerDesk2. The symbols for the maturity dates are: |
|
Last trading day |
This is two days before the Wednesday of the maturity. All contracts must be closed the day before. From 21:00 hours onwards, all market orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 3% to 30% of the equivalent value of the transaction. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
With a margin at 3%, the stop level is set at 1% of the equivalent value of the position; with a margin at 30%, the stop is equal to 28%. |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Costs |
|
|
Fees |
$2.50 per lot |
|
CME Activation |
Activation is online, free and immediate. |
E-mini Dow Jones
|
Contract features |
|
|
Underlying |
Dow Jones Index |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $5 |
|
Minimum tick |
1 tick = 1 index point = 5 dollars |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two deadlines are negotiable. |
|
Last trading day |
This is the third Friday of the month, if it is a trading day. All contracts must be closed the day before by 20:00 hours. From 20:15 hours onwards, at-best orders will be sent for automatic closing of open positions |
|
Margin for trading |
From 2.5% to 6.5% of the transaction equivalent value for intraday positions.From 7% to 30% of the transaction equivalent value for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
The Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
All orders (standard, conditional and automatic) can only be entered during trading hours.. |
|
Costs |
|
|
Fees |
$1.95 per lot |
|
CME Activation |
Activation is online, free and immediate. |
E-mini EuroDollar FX
|
Contract features |
|
|
Underlying |
Euro/dollar exchange rate |
|
Quote |
It is quoted in points on the exchange rate |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $6.25 |
|
Contract value |
62,500 euros |
|
Minimum tick |
0,0001 |
|
Contract size |
The contract size is given by the product between the price of the euro/dollar exchange rate and the value of the contract multiplier. Example: if the price of the euro/dollar exchange rate is equal to 123.12 points, the contract size is 123.12 x $6.25 x 100 = $76,950 |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on PowerDesk2. The symbols for the maturity dates are: |
|
Last trading day |
This is two days before the Wednesday of the maturity. All contracts must be closed the day before by 20:15 hours. From 20:30 hours onwards, all at-best orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 3% to 30% of the equivalent value of the transaction. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
With a margin at 3%, the stop level is set at 2% of the equivalent value of the position; with a margin at 30%, the stop is equal to 29%. |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Costs |
|
|
Fees |
$2.50 per lot |
|
CME Activation |
Activation is online, free and immediate. |
E-mini Nasdaq 100
|
Contract features |
|
|
Underlying |
Nasdaq 100 |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $20 |
|
Minimum price change |
1 tick= 0.25 index points = 5 dollars |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on the platform. |
|
Last trading day |
This is the third Friday of the month, if it is a trading day. All contracts must be closed the day before by 20:00 hours. From 20:15 hours onwards, at-best orders will be sent for automatic closing of open positions |
|
Margin for trading |
From 2.5% to 6.5% of the equivalent value of the transaction for intraday positions. From 7% to 30% of the equivalent value of the transaction for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
All orders (standard, conditional and automatic) can only be entered during trading hours. |
|
Costs |
|
|
Fees |
$1.95 per lot |
|
CME Activation |
Activation is online, free and immediate. |
E-mini S&P 500
|
Contract features |
|
|
Underlying |
S&P 500 |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $50 |
|
Minimum price change |
1 tick= 0.25 index points = 12.5 dollars |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on the platform. |
|
Last trading day |
This is the third Friday of the month, if it is a trading day. All contracts must be closed the day before by 20:00 hours. From 20:15 hours onwards, at-best orders will be sent for automatic closing of open positions |
|
Margin for trading |
From 2.5% to 6.5% of the transaction equivalent value for intraday positions. From 7% to 30% of the transaction equivalent value for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
All orders (standard, conditional and automatic) can only be entered during trading hours. |
|
Costs |
|
|
Fees |
$1.95 per lot |
|
CME Activation |
Activation is online, free and immediate. |
E-mini Russell 2000 Index Futures
|
Contract features |
|
|
Underlying |
Russell 2000 Index |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $50 |
|
Minimum price change |
1 tick= 0.10 index points = 5$ |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier.
|
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on the platform. March 20= RTYH20
|
|
Last trading day |
This is the third Friday of the month, if it is a trading day. All contracts must be closed the day before by 20:00 hours. From 20:15 hours onwards, at-best orders will be sent for automatic closing of open positions |
|
Margin for trading |
From 2.5% to 6.5% of the transaction equivalent value for intraday positions. From 7% to 30% of the transaction equivalent value for multiday positions.
|
|
Automatic Stop Losses |
Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
All orders (standard, conditional and automatic) can only be entered during trading hours. |
|
Cme Limits |
There is an operating restriction of 20 lots for each position. |
|
Trading hours |
Market, whose processing will be displayed in the monitor from 06:30 hours the following morning. |
|
Costs |
|
|
Fees |
$1.95 per lot |
|
CME Activation |
Activation is online, free and immediate. |
Micro E-mini Dow Jones
|
Contract features |
|
|
Underlying |
Dow Jones Index |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $0.5 |
|
Minimum price change |
1 tick= 1 index points = 0.5 dollars |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on the platform. |
|
Last trading day |
This is the third Friday of the month, if it is a trading day. All contracts must be closed the day before by 20:00 hours. From 20:15 hours onwards, at-best orders will be sent for automatic closing of open positions |
|
Margin for trading |
From 2.5% to 6.5% of the transaction equivalent value for intraday positions. From 7% to 30% of the transaction equivalent value for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
All orders (standard, conditional and automatic) can only be entered during trading hours.. |
|
Costs |
|
|
Fees |
$0.70 per lot |
|
CME Activation |
Activation is online, free and immediate. |
Micro E-mini Nasdaq 100
|
Contract features |
|
|
Underlying |
Nasdaq 100 |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $2 |
|
Minimum price change |
1 tick= 0.25 index points = 0.5 dollars |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on the platform. |
|
Last trading day |
This is the third Friday of the month, if it is a trading day. All contracts must be closed the day before by 20:00 hours. From 20:15 hours onwards, at-best orders will be sent for automatic closing of open positions |
|
Margin for trading |
From 2.5% to 6.5% of the transaction equivalent value for intraday positions. From 7% to 30% of the transaction equivalent value for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
All orders (standard, conditional and automatic) can only be entered during trading hours. |
|
Costs |
|
|
Fees |
$0.70 per lot |
|
CME Activation |
Activation is online, free and immediate. |
Micro E-mini S&P 500
|
Contract features |
|
|
Underlying |
S&P 500 |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $5 |
|
Minimum price change |
1 tick= 0.25 index points = 1.25 dollars |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on the platform. |
|
Last trading day |
This is the third Friday of the month, if it is a trading day. All contracts must be closed the day before by 20:00 hours. From 20:15 hours onwards, at-best orders will be sent for automatic closing of open positions |
|
Margin for trading |
From 2.5% to 6.5% of the transaction equivalent value for intraday positions. From 7% to 30% of the transaction equivalent value for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
All orders (standard, conditional and automatic) can only be entered during trading hours. |
|
Costs |
|
|
Fees |
$0.70 per lot |
|
CME Activation |
Activation is online, free and immediate. |
Micro E-mini Russell 2000 Index Futures
|
Contract features |
|
|
Underlying |
Russell 2000 Index |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $5 |
|
Minimum price change |
1 tick= 0.10 index points = 1.50 dollars |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on the platform. March 19 = M2KH20 |
|
Last trading day |
This is the third Friday of the month, if it is a trading day. All contracts must be closed the day before by 20:00 hours. From 20:15 hours onwards, at-best orders will be sent for automatic closing of open positions |
|
Margin for trading |
From 2.5% to 6.5% of the transaction equivalent value for intraday positions. From 7% to 30% of the transaction equivalent value for multiday positions. |
|
Automatic Stop Losses |
Automatic Stop Losses vary from 1% (2.5% margin) to 25% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
All orders (standard, conditional and automatic) can only be entered during trading hours. |
|
Cme Limits |
There is an operating restriction of 20 lots for each position. |
|
Costs |
|
|
Fees |
$0.70 per lot |
|
CME Activation |
Activation is online, free and immediate. |
FX Euro
|
Contract features |
|
|
Underlying |
Euro/dollar exchange rate |
|
Quote |
It is quoted in points on the exchange rate |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $12.5 |
|
Contract value |
125,000 euros |
|
Minimum tick |
0,0001 |
|
Contract size |
The contract size is given by the product between the price of the euro/dollar exchange rate and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on PowerDesk2. The symbols for the maturity dates are: |
|
Last trading day |
This is two days before the Wednesday of the maturity. All contracts must be closed the day before. From 21:00 hours onwards, all market orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 3% to 30% of the equivalent value of the transaction. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
With a margin at 3%, the stop level is set at 2% of the equivalent value of the position; with a margin at 30%, the stop is equal to 29%. |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading. |
|
Costs |
|
|
Fees |
$2.50 per lot |
|
CME Activation |
Activation is online, free and immediate. |
Japanese Yen
|
Contract features |
|
|
Underlying |
JPY-USD Exchange rate |
|
Quote |
It is quoted in points on the exchange rate |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $1,250 |
|
Contract value |
12,500,000 Japanese Yen |
|
Minimum tick |
0.01 equal to $12.50 |
|
Contract size |
The contract size is given by the product between the future’s price and the value of the multiplier of the contract. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two deadlines are negotiable. The symbols for the maturity dates are: |
|
Last trading day |
This is two days before the Wednesday of the maturity. All contracts must be closed the day before. From 21:00 hours onwards, all market orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 3% to 30% of the equivalent value of the transaction. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
With a margin at 3%, the stop level is set at 1% of the equivalent value of the position; with a margin at 30%, the stop is equal to 28%. |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading. |
|
Costs |
|
|
Fees |
$2.50 per lot |
|
CME Activation |
Activation is online, free and immediate. |
Nikkei Index 225
|
Contract features |
|
|
Underlying |
Nikkei Index 225 |
|
Quote |
It is quoted in index points |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $5 |
|
Minimum price change |
1 tick= 5 index point= €25 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on the platform. |
|
Last trading day |
This is two days before the second Friday of the month, if it is a trading day. All contracts must be closed the day before by 20:00 hours. From 20:15 hours orders at best are sent for automatic closing of the open positions |
|
Margin for trading |
From 7% to 30% of the transaction equivalent value. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
With a margin at 7%, the stop level is set at 2% of the equivalent value of the position; with a margin at 30%, the stop is equal to 25%. |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading. |
|
Costs |
|
|
Fees |
$2.70 per lot |
|
CME Activation |
Activation is online, free of charge and immediate |
Swiss Franc
|
Contract features |
|
|
Underlying |
CHF-USD exchange rate |
|
Quote |
It is quoted in points on the exchange rate |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $12.5 |
|
Contract value |
125,000 Swiss Francs |
|
Minimum tick |
0.0001 |
|
Contract size |
The contract size is given by the product between the price of the CHF/USD exchange rate and the value of the contract multiplier. |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted simultaneously. The first two maturity dates are negotiable on PowerDesk2. The symbols for the maturity dates are: |
|
Last trading day |
This is two days before the Wednesday of the maturity. All contracts must be closed the day before. From 21:00 hours onwards, all market orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 3% to 30% of the equivalent value of the transaction. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
With a margin at 3%, the stop level is set at 1% of the equivalent value of the position; with a margin at 30%, the stop is equal to 28%. |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading. |
|
Costs |
|
|
Fees |
$2.50 per lot |
|
CME Activation |
Activation is online, free and immediate. |
US Treasury Bond
|
Contract features |
|
|
Underlying |
Bond with a maturity equal to at least 15 years and less than 25 years issued by the US Treasury. |
|
Quote |
It is quoted as a percentage to three decimal places |
|
Minimum price change |
1 tick = 3.125 = $31.25 |
|
Contract size |
nominal €100,000 |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 21:15:01 hours market orders are sent by Fineco for the automatic closing of the open positions. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the expiry date of the related future |
|
Trading margins |
From 1% to 1.5% of the equivalent value of the transaction for intraday positions. From 2% to 30% of the equivalent value of the transaction for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. Automatic Stop Losses vary from 0.5% (1% margin) to 29% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
$2.00 per lot |
|
CME Activation |
Activation is online, free of charge and immediate. |
2 Year Treasury Note
|
Contract features |
|
|
Underlying |
Bond with a maturity not exceeding five years and three months and a residual duration not shorter than one year and nine months from the first day of the month of delivery and a residual duration not exceeding two years from the last day of the month of delivery, issued by the US Treasury. |
|
Quote |
It is quoted as a percentage to five decimal places |
|
Minimum price change |
1 tick = 1.5625 = $15,625 |
|
Contract size |
nominal €200,000 |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 21:15:01 hours market orders are sent by Fineco for the automatic closing of the open positions. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the expiry date of the related future. |
|
Trading margins |
From 1% to 1.5% of the equivalent value of the transaction for intraday positions. From 2% to 30% of the equivalent value of the transaction for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 0.5% (1% margin) to 29% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
$2.00 per lot |
|
CME Activation |
Activation is online, free of charge and immediate. |
5 Year Treasury Note
|
Contract features |
|
|
Underlying |
Bond with a maturity not exceeding five years and three months and a residual duration not shorter than four years and two months from the first day of the month of delivery, issued by the US Treasury. |
|
Quote |
It is quoted as a percentage to four decimal places |
|
Minimum price change |
1 tick = 0.78125 = $7.8125 |
|
Contract size |
nominal €100,000 |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract expires on the last business day of the calendar month. Trading ends at 11:01 hours. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 21:15:01 hours market orders are sent by Fineco for the automatic closing of the open positions. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the expiry date of the related future. |
|
Trading margins |
From 1% to 1.5% of the equivalent value of the transaction for intraday positions. From 2% to 30% of the equivalent value of the transaction for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 0.5% (1% margin) to 29% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
$2.00 per lot |
|
CME Activation |
Activation is online, free of charge and immediate. |
10 Year Treasury Note
|
Contract features |
|
|
Underlying |
Bond with a residual duration of at least six and a half years and shorter than 10 years, from the first day of the month of delivery. |
|
Quote |
It is quoted as a percentage to four decimal places |
|
Minimum price change |
1 tick = 1.5625 = $15,625 |
|
Contract size |
nominal €100,000 |
|
Expiry dates |
The four quarterly maturity dates of the March, June, September, December cycle are quoted. The derivative contract includes the physical delivery of the underlying. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 21:15:01 hours market orders are sent by Fineco for the automatic closing of the open positions. |
|
Delivery of the underlying |
Fineco does not deliver the underlying on the expiry date of the related future. |
|
Trading margins |
From 1% to 1.5% of the equivalent value of the transaction for intraday positions. From 2% to 30% of the equivalent value of the transaction for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. The Automatic Stop Losses vary from 0.5% (1% margin) to 29% (30% margin). |
|
Operating Notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Continuous trading: standard and conditional orders. |
|
Costs |
|
|
Fees |
$2.00 per lot |
|
CME Activation |
Activation is online, free of charge and immediate. |
Futures traded on CME (Agricultural products)
You can trade on CME electronic derivatives via Fineco website, PowerDesk and the apps. Fineco is directly linked to Chicago’s stock exchange to allow its customers to trade efficiently, and receive all real-time stock prices free of charge.
Futures on agricultural products
|
Name |
Symbol |
Size |
|
ZC |
$ 5.000 x index point |
|
|
XC |
$ 1.000 x index point |
|
|
ZW |
$ 5.000 x index point |
|
|
XW |
$ 1.000 x index point |
|
|
ZO |
$ 5.000 x index point |
|
|
ZS |
$ 5.000 x index point |
|
|
XK |
$ 1.000 x index point |
|
|
XK |
$ 1.000 x index point |
|
|
ZL |
$ 600 x index point |
|
| Rough Rice |
ZR |
$ 1.000 x index point |
Trading, the fee plan and margin management all take place directly through the Multicurrency service (in US dollars).
This allows customers to change the currency whenever they want and so directly manage the related euro/dollar exchange rate risk.
Trading on derivatives is recognised at T+1, while the euro/dollar exchange rate has a value date of T+2.
So a currency request to trade US futures guarantees available funds for trading. Whereas, for open multiday positions, the account could become overdrawn, due to the different recognition of exchange and derivative transactions.
Activation
CME activation is free, online and immediate.
The following can be activated to receive stock exchange data and operate on this market:
- Activation for derivatives
- Activation for viewing CME quotes
Activation is available from the Account management > Managing profile > Trading and investments section of the website.
A "Dynamic" investor profile is also required. This can be verified in the Account management > Personal profile section.
NB: remember that the Call Centre can be contacted only for closing open positions. Orders cannot be given for opening new positions.
For more information on the CME, please read the Stock Exchange Disclosure in the TRADING > Futures > CME section.
Corn
|
Contract features |
|
|
Underlying |
Corn |
|
Quote |
Dollars and cents per bushel |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 5,000 |
|
Contract value |
5,000 bushels |
|
Minimum tick |
0.0025 equal to $ 12.5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of March, May, July, September and December are available on Fineco. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 19:00 hours onwards, all market orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 12% to 23% of the equivalent value of the operation for intraday positions, from 24% to 35% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 6% (12% margin) to 23% (35% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 10 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Mini-Corn
|
Contract features |
|
|
Underlying |
Corn |
|
Quote |
Dollars and cents per bushel |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 1,000 |
|
Contract value |
1,000 bushels |
|
Minimum tick |
0.00125 equal to $ 1.25 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of March, May, July, September and December are available on Fineco. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 19:30 hours onwards, all market orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 12% to 23% of the equivalent value of the operation for intraday positions, from 24% to 35% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 6% (12% margin) to 23% (35% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 5 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Oat
|
Contract features |
|
|
Underlying |
Oats |
|
Quote |
Dollars and cents per bushel |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 5,000 |
|
Contract value |
5,000 bushels |
|
Minimum tick |
0.0025 equal to $ 12.5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of March, May, July, September and December are available on Fineco. The first two deadlines are negotiable. Rules for the monthly calculation of the expiry day: it is necessary to consider the first day of the expiry month and from this you subtract 3 working days and you obtain the monthly deadline. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:00 hours onwards, all at-best orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 15% to 29% of the equivalent value of the operation for intraday positions, from 30% to 40% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 7.5% (15% margin) to 25% (40% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 5 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Rough Rice
|
Contract features |
|
|
Underlying |
Rice |
|
Quote |
Cents per hundredweight |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 2,000 |
|
Contract value |
2,000 bushels |
|
Minimum tick |
0,005 equal to $ 10 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of January, March, May, July, August, September and November are available on Fineco. The first two deadlines are negotiable. Rules for the monthly calculation of the expiry day: it is necessary to consider the first day of the expiry month and from this you subtract 3 working days and you obtain the monthly deadline. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 19:00 hours onwards, all at-best orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 12% to 23% of the equivalent value of the operation for intraday positions, from 24% to 35% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 6% (12% margin) to 23% (35% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 3 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Soybean
|
Contract features |
|
|
Underlying |
Soy |
|
Quote |
Dollars and cents per bushelt |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 5,000 |
|
Contract value |
5,000 bushel |
|
Minimum tick |
0,0025 equal to $ 12.5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of January, March, May, July, August, September and November are available on Fineco. The first two deadlines are negotiable. Rules for the monthly calculation of the expiry day: it is necessary to consider the first day of the expiry month and from this you subtract 3 working days and you obtain the monthly deadline. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 19:00 hours onwards, all at-best orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 12% to 23% of the equivalent value of the operation for intraday positions, from 24% to 35% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 6% (12% margin) to 23% (35% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market orders |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 10 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Mini Soybean
|
Contract features |
|
|
Underlying |
Soy |
|
Quote |
Dollars and cents per bushelt |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 1,000 |
|
Contract value |
1,000 bushels |
|
Minimum tick |
0,00125 equal to $ 1.25 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of January, March, May, July, August, September and November are available on Fineco. The first two deadlines are negotiable. Rules for the monthly calculation of the expiry day: it is necessary to consider the first day of the expiry month and from this you subtract 3 working days and you obtain the monthly deadline. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 19:30 hours onwards, all at-best orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 12% to 23% of the equivalent value of the operation for intraday positions, from 24% to 35% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 6% (12% margin) to 23% (35% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market order. |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 5 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Soybean Meal
|
Contract features |
|
|
Underlying |
Soy flour |
|
Quote |
Dollars and cents per short ton |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 100 |
|
Contract value |
100 short tons |
|
Minimum tick |
0.1 equal to $ 10 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of January, March, May, July, August, September, October and December are available on Fineco. The first two deadlines are negotiable. Rules for the monthly calculation of the expiry day: it is necessary to consider the first day of the expiry month and from this you subtract 3 working days and you obtain the monthly deadline. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 19:00 hours onwards, all at-best orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 12% to 23% of the equivalent transaction value for Intraday positions, from 24% to 35% of the equivalent transaction value for Multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 6% (12% margin) to 23% (35% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 10 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Soybean Oil
|
Contract features |
|
|
Underlying |
Soybean oil |
|
Quote |
Dollars and cents per pound |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 600 |
|
Contract value |
60,000 pounds |
|
Minimum tick |
0.01 equal to $ 6 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of January, March, May, July, August, September, October and December are available on Fineco. The first two deadlines are negotiable. Rules for the monthly calculation of the expiry day: it is necessary to consider the first day of the expiry month and from this you subtract 3 working days and you obtain the monthly deadline. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 19:00 hours onwards, all at-best orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 12% to 23% of the equivalent value of the operation for intraday positions, from 24% to 35% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 6% (12% margin) to 23% (35% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 10 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Wheat
|
Contract features |
|
|
Underlying |
Wheat |
|
Quote |
Dollars and cents per bushel |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 5,000 |
|
Contract value |
5,000 bushels |
|
Minimum tick |
0.0025 equal to $ 12.56 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of March, May, July, September and December are available on Fineco. The first two deadlines are negotiable. Rules for the monthly calculation of the expiry day: it is necessary to consider the first day of the expiry month and from this you subtract 3 working days and you obtain the monthly deadline. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 19:00 hours onwards, all at-best orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 12% to 23% of the equivalent value of the operation for intraday positions, from 24% to 35% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 6% (12% margin) to 23% (35% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 10 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Mini Wheat
|
Contract features |
|
|
Underlying |
Wheat |
|
Quote |
Dollars and cents per bushel |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 1,000 |
|
Contract value |
1,000 bushels |
|
Minimum tick |
0.00125 equal to $ 1.25 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly deadlines of March, May, July, September and December are available on Fineco. The first two deadlines are negotiable. Rules for the monthly calculation of the expiry day: it is necessary to consider the first day of the expiry month and from this you subtract 3 working days and you obtain the monthly deadline. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 19:30 hours onwards, all at-best orders will be sent for automatic closing of all open positions. |
|
Margin for trading |
From 12% to 23% of the equivalent value of the operation for intraday positions, from 24% to 35% of the equivalent value of the operation for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic Stop Losses |
Automatic stop losses vary from 6% (12% margin) to 23% (35% margin). |
|
Operating Notes |
|
|
Order types |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled |
|
Conditional orders |
Both standard and conditional (Stop Loss) orders can only be entered during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order entry |
Both standard and conditional orders can only be entered during trading hours. |
|
Cme restrictions |
The Cme market has imposed an operating constraint on this contract pursuant to which an order cannot exceed 5 lots in quantity. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
Activation |
Activation is online, free and immediate. |
Trading on CME futures (energy and metals)
You can trade on CME electronic derivatives on the Fineco website, PowerDesk2 and mobile devices. Fineco is directly connected to Chicago’s stock exchange in order to allow its customers not only to trade efficiently, but also to receive all real-time stock prices free of charge.
Futures on energy and metals
|
Name |
Symbol |
Size |
|
QM |
$ 500 x index point |
|
|
CL |
$ 1.000 x index point |
|
|
HO |
$ 420 x index point |
|
|
RB |
$ 420 x index point |
|
|
NG |
$ 10.000 x index point |
|
|
QG |
$ 2.500 x index point |
|
|
GC |
$ 100 x index point |
|
|
QO |
$ 50 x index point |
|
|
YES |
$ 50 x index point |
|
|
HG |
$ 250 x index point |
|
|
PA |
$ 100 x index point |
|
|
PL |
$ 50 x index point |
Trading, the fee plan and margin management are all part of the Multicurrency service (USD).
Accordingly, customers can change the currency whenever they want, by directly handling the related GBP-USD currency rate risk.
Trading on derivatives is recognised at T+1, while the GBP-USD exchange rate has a value date of T+3.
Therefore, a currency request to trade US futures guarantees available funds for trading. Conversely, for OPEN open positions overnight, the account could become overdrawn due to the different recognition of foreign exchange and derivative transactions.
Activation CME activation is free, online and immediate.
The following must be activated to receive stock exchange data and operate on this market:
- Multicurrency service
- Activation for derivatives
- Dynamic profile
CME activation is available on the site, the Futures page and in the section Account Management > Managing profile.
Note: Our Client Service can be contacted only for closing any open positions. .It is not possible place new orders to open new positions.
For additional information on the CME market, please view the Stock Exchange Disclosure in the section TRADING > Futures > CME.
Copper
|
Contract features |
|
|
Underlying |
Copper |
|
Quote |
Dollars and cents per pound |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 250 |
|
Contract value |
25,000 pounds (about $ 125,000) |
|
Minimum tick |
0.05 equal to $ 12.5 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
The monthly expiry dates of March, May, July, September and December are available on Fineco. The first two expiry dates are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:30 hours onwards, all market orders are sent for closing all open positions.
|
|
Margin for trading |
From 8% to 19% of the transaction value for intraday positions. From 20% to 30% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 4% (8% margin) to 20% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 20 lots. |
|
Costs |
|
|
Fees |
$2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
E-mini Crude Oil
|
Contract features |
|
|
Underlying |
Crude Oil |
|
Quote |
Dollars and cents per barrel |
|
Value of an index point (multiplier of the contract) |
A value of $ 12.5 is given to each tick. |
|
Contract value |
25,000 pounds (about $ 125,000) |
|
Minimum tick |
0,025 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
The monthly expiry dates are quoted and the first two are negotiable. Rule for the monthly calculation of the expiry day: you must consider the 25th day of the month preceding the expiry day and subtract 3 working days (=big maturity) then a further day, thus calculating the expiry of the mini. |
|
Last trading day |
All contracts must be closed the day before the monthly expiry date. From 21:15 hours onwards, all market orders are sent to close all open positions. |
|
Margin for trading |
From 5% to 11.50% of the transaction value for intraday positions. From 12% to 30% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 2.5% (5% margin) to 23% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 50 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
E-micro Gold Futures
|
Contract features |
|
|
Underlying |
Gold |
|
Quote |
Dollars and cents per ounce |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of 10$ |
|
Minimum price change |
1 tick= 0,10 index points = 1$ |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly expiry dates of February, April, June, August, October and December are available on Fineco. The first two are negotiable. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:30 hours onwards, all market orders are sent to close all open positions. |
|
Margin for trading |
From 6% to 19.50% of the transaction value for intraday positions, from 20% to 30% of the transaction value for multiday positions. |
|
Automatic stop losses |
Automatic stop losses vary from 3% (6% margin) to 20% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Cme limits |
There is an operating restriction of 20 lots for each position. |
|
Costs |
|
|
Fees |
$0.70 per lot |
|
CME activation |
Activation is online, free and immediate. |
E-mini Gold
|
Contract features |
|
|
Underlying |
Gold |
|
Quote |
Dollars and cents per ounce |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 50 |
|
Contract value |
50 Troy ounces (about $ 47,000) |
|
Minimum tick |
0.25 equals $ 12.5 |
|
Contract size |
The contract size is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly expiry dates of February, April, June, August, October and December are available on Fineco. The first two expiry dates are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry of the big gold contract, then subtract a further day to obtain the expiry date of the mini. |
|
Last trading day |
All contracts must be closed the day before the monthly maturity date. From 21:15 hours onwards, all market orders are sent to close all open positions. |
|
Margin for trading |
From 6% to 19.50% of the transaction value for intraday positions, from 20% to 30% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 3% (6% margin) to 20% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Limit order At-best and market orders are not available. |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 20 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
E-mini Natural Gas
|
Contract features |
|
|
Underlying |
Natural gas |
|
Quote |
Dollars and cents per mmBtu |
|
Value of an index point (multiplier of the contract) |
A value of $ 12.5 is given to each index point |
|
Contract value |
$ 31,000 (5,000 mln British Thermal Units - mmBtu) |
|
Minimum tick |
0,005 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
The monthly expiry dates are quoted and the first two are negotiable. A rule for the monthly calculation of the expiry date: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date for big natural gas, then subtract a further day to obtain the expiry date of the mini. |
|
Last trading day |
All contracts must be closed the day before the monthly maturity date. From 21:15 hours onwards, all market orders are sent to close all open positions. |
|
Margin for trading |
From 8% to 19.50% of the transaction value for intraday positions, from 20% to 30% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 4% (8% margin) to 20% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Limit order At-best and market orders are not available. |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 40 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
Gold
|
Contract features |
|
|
Underlying |
Gold |
|
Quote |
Dollars and cents per ounce |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 100 |
|
Contract value |
100 Troy ounces (about $ 150,000) |
|
Minimum tick |
0.1 equal to $ 10 |
|
Contract size |
The size of the contract is the product of the futures price and the value of the contract multiplier. |
|
Expiry dates |
The monthly expiry dates of February, April, June, August, October and December are available on Fineco. The first two are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date of the big gold contract, then subtract a further day to obtain the expiry date of the mini. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:30 hours onwards, all market orders are sent to close all open positions. |
|
Margin for trading |
From 6% to 19% of the transaction value for intraday positions, from 20% to 30% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 3% (6% margin) to 20% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 10 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
Light Sweet Crude Oil
|
Contract features |
|
|
Underlying |
Light Sweet Crude Oil |
|
Quote |
Dollars and cents per barrel |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 1,000 |
|
Contract value |
1,000 gallons (about $ 100,000) |
|
Minimum tick |
0.1 equal to $ 10 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
All monthly expiry dates are available on Fineco. The first two are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:45 hours onwards, all market orders are sent to close all open positions. |
|
Margin for trading |
From 5% to 11% of the transaction value for intraday positions. From 12% to 25% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 2.5% (5% margin) to 19% (25% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 10 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
Natural Gas
|
Contract features |
|
|
Underlying |
Natural Gas |
|
Quote |
Dollars and cents per mmBtu |
|
Value of an index point (multiplier of the contract) |
A value of $ 10,000 is given to each index point |
|
Contract value |
10,000 mln British thermal units - mmBtu (about $ 43,000) |
|
Minimum tick |
0.001 equal to $ 10 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
All monthly expiry dates are available on Fineco. The first two are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:30 hours onwards, at-best orders will be sent to close open positions. |
|
Margin for trading |
From 8% to 19% of the transaction value for intraday positions, from 20% to 30% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 4% (8% margin) to 20% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 10 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
NY Harbor ULSD
|
Contract features |
|
|
Underlying |
NY Harbor ULSD (Heating Oil) |
|
Quote |
Dollars and cents per gallon |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 420 |
|
Contract value |
42,000 gallons (about $ 125,000) |
|
Minimum tick |
0.01 equal to $ 4.2 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
All monthly expiry dates are available on Fineco. The first two are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:30 hours onwards, at-best orders will be sent to close open positions. |
|
Margin for trading |
From 8% to 19% of the transaction value for intraday positions. From 20% to 30% of the transaction value for multiday positions. The margin is fixed by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 4% (8% margin) to 20% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 10 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
Palladium
|
Contract features |
|
|
Underlying |
Palladium |
|
Quote |
Dollars and cents per troy ounces |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 100 |
|
Contract value |
100 Troy ounces (about $ 77,000) |
|
Minimum tick |
0.05 equal to $ 5 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
The monthly expiry dates of March, June, September and December are available on Fineco. The first two are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:30 hours onwards, at-best orders will be sent to close open positions. |
|
Margin for trading |
From 10% to 24% of the equivalent transaction value for intraday positions. From 25% to 35% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 5% (10% margin) to 22.5% (35% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 5 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
Platinum
|
Contract features |
|
|
Underlying |
Platinum |
|
Quote |
Dollars and cents per troy ounces |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 50 |
|
Contract value |
50 Troy ounces (about $ 88,000) |
|
Minimum tick |
0.1 equal to $ 5 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
The monthly expiry dates of January, April, July and October are available on Fineco. The first two are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:30 hours onwards, at-best orders will be sent to close open positions. |
|
Margin for trading |
From 8% to 19% of the transaction value for intraday positions. From 20% to 30% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 4% (8% margin) to 20% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 5 lots. |
|
Costs |
|
|
Fees |
$2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
RBOB Gasoline
|
Contract features |
|
|
Underlying |
Diesel |
|
Quote |
Dollars and cents per gallon |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 420 |
|
Contract value |
42.000 gallons |
|
Minimum tick |
0.01 equal to $ 4.2 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
All monthly expiry dates are available on Fineco. The first two are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 8:45 hours onwards, at-best orders will be sent to close open positions. |
|
Margin for trading |
From 8% to 19% of the transaction value for intraday positions. From 20% to 30% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 4% (8% margin) to 20% (30% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 2 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |
Silver
|
Contract features |
|
|
Underlying |
Silver |
|
Quote |
Dollars and cents per ounce |
|
Value of an index point (multiplier of the contract) |
Each index point has a value of $ 50 |
|
Contract value |
5,000 Troy ounces (about $ 180,000) |
|
Minimum tick |
0.5 equal to $ 25 |
|
Contract size |
The size of the contract is the product of the contract price and the value of the contract multiplier. |
|
Expiry dates |
The monthly expiry dates of January, March, May, July, September and December are available on Fineco. The first two are negotiable. Rules for the monthly calculation of the expiry day: you must consider the first day of the expiry month and, from this, subtract 3 working days to obtain the monthly expiry date. |
|
Last trading day |
All contracts must be closed two days before the date of the FIRST NOTICE or of the LAST TRADING DAY if prior to the FIRST NOTICE. From 20:30 hours onwards, at-best orders will be sent to close open positions. |
|
Margin for trading |
From 10% to 24% of the equivalent transaction value for intraday positions. From 25% to 35% of the transaction value for multiday positions. The margin is set by the user and can be changed each day only if there are no open positions on the same contract. |
|
Automatic stop losses |
Automatic stop losses vary from 5% (10% margin) to 22.5% (35% margin). |
|
Operating notes |
|
|
Types of orders |
Limit and market order |
|
Validity of the orders |
GTC = Good Till Cancelled
|
|
Conditional orders |
Both standard and conditional orders (stop loss) can be placed only during trading hours. For conditional orders, the reference price may differ from the stop price, as is the case for the IDEM market. |
|
Order placement |
Both standard and conditional orders can be placed only during trading hours.
|
|
Cme restrictions |
The Cme market has set an operating restriction on this contract, so that an order may not exceed a quantity of 10 lots. |
|
Costs |
|
|
Fees |
$ 2.00 per lot |
|
CME activation |
Activation is online, free and immediate. |