What are IG's interest rates CFD product details?

All the instruments described on this site are Contracts for Difference (CFDs). Our rates give you exposure to changes in the value of interest rates but they are cash settled and cannot result in the delivery of any commodity or instrument.

1. a) CFDs on interest rate futures are quoted with reference to the equivalent expiry contract on the underlying futures market. We do not apply any weighting or biases to our pricing sources.

b) Spreads are subject to variation, especially in volatile market conditions. Our dealing spreads may change to reflect the available liquidity during different times of day. Our normal spread is shown in the table.

c) Dealing spreads may be offered as a fixed or variable amount. If variable spreads are in use, then the spread shown in this table is the amount of IG spread added to the underlying futures market spread. Any variable dealing spreads are marked with an asterisk (*).

d) We will not charge any additional commission unless we notify you in writing.

2. For limited risk transactions, a limited risk premium is charged if your guaranteed stop is triggered. The potential premium is displayed on the deal ticket, and can form part of your margin when you attach the stop. Please note that premiums are subject to change, especially going into weekends and during volatile market conditions.

3. Positions not manually closed by the client, or not set to automatic rollover, will expire automatically on the following basis, plus IG spread:

Sterling Deposit and Euribor based on the EDSP of the relevant futures contract on LIFFE on the last dealing day.
Australian 30-day Interbank Rate using the monthly average of the Interbank overnight cash rate, as published by the RBA, divided by the number of days for the month and rounded to the nearest 0.001%.
US 30-Day Fed Funds Rate based on the Final Settlement Price of the CME 30-Day Federal Funds Futures contract. This price is based on the average of the daily Fed Funds overnight rate (as reported by the Federal Reserve Bank of New York) over the contract month.

4. Futures CFD positions will be rolled over to the next front month contract automatically by default. For most positions, a client can also request IG not to rollover a specific open futures CFD position.

The initial position will be closed at the official closing level of the day before the last dealing day +/- closing spread. The new position in the next front month contract will open at the official closing level of the new contract from the same day, +/- opening spread.

The default rollover setting can be changed in My IG, which will apply to your entire portfolio. Go to Settings > Rollovers and select your desired rollover instruction

5. When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive and negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our trading platform.

6. Margin requirements represent a percentage of the overall position value, and can vary depending on which account type you hold. If two values are listed, the first value applies to Trader Accounts and the second to Select Accounts. You can find the applicable tiered margins from the 'Get Info' dropdown section within each market in the trading platform. Please note that higher margins may be required for large positions. See our margins page for more details.