Futures Trading Conditions

 

 

Futures Trading Conditions

Support for Stop and Stop Limit orders

Stop and stop-limit orders are subject to support by the exchange on which the contract is traded. The order types available are noted in the pop-up details for each contract.

Partial fills

Partial fills may occur on Limit orders and the remaining amount stays in the market as a Limit order and may be filled within the order duration.

Market orders can be filled at numerous levels, the price paid will be the volume weighted average price of all the fills.

Expiry for Futures Contracts

Saxo Capital Markets does not support physical delivery of the underlying security on expiry of a futures contract. Therefore, Saxo Capital Markets advises clients take note of the expiry and first notice dates (FND) of any futures contracts in which they have positions and ensure they are closed before the appropriate day, as described below.
If the FND is before the expiry date, positions need to be closed the day before the FND. If the expiry date is before the FND positions need to be closed no later than on the expiry date.

If futures positions are not closed before the relevant date, Saxo Capital Markets will close the position on the client's behalf at the first available opportunity at the prevailing market rate. Any resulting costs, gains or losses will be passed on to the client.
 
If clients require any assistance or clarification regarding the expiry of futures contracts, please contact Saxo Capital Markets

 

Milling wheat futures expiry
Please note that, due to exchange rules, short positions may be forcibly closed within five days from the first notice date prior to expiry, with a cut-off time of 4:00 pm CET.

Brazilian Futures

Please be aware that Brazilian Futures are available for trading to non-Brazilian residents only.

Canadian Futures

Saxo Capital Markets launches four most liquid, CAD-denominated futures contracts traded on the Montreal Derivatives Exchange, available from 1st. June 2011:  

  • 3M Bankers Acceptance (BAX)
  • 10 Year government of Canada Bond (CGB)
  • 2 Year government of Canada Bond (CGZ)
  • S&P Canada 60 Index (SXF) - an index future based on the S&P/TSX 60 Index

Special conditions for Sydney Futures Exchange (SFE)

Market orders

Market orders are not accepted on all contracts.

Please use limit orders to hit the bid/offer.

Limit orders

A BUY Limit order cannot be higher than the current offer and a SELL Limit order cannot be lower than the current bid.

If the market is moving at or around the time at which the order is placed, this order may be rejected by the exchange. Please repeat the process of placing the order again.

Stop Limit orders

Stop Orders without Limits are not accepted on the platform.

The limit price specified within a Stop Limit Order cannot be more than three ticks from the trigger price.
 
In case of an order that was placed where the limit price is greater than 3 ticks from the trigger price, the order will appear as being accepted by the platform. However, please note that upon the trigger price being touched/breached, the order will NOT be executed. In such cases, the order will be removed from the system afterwards.

 

Conversion of profits and losses

Currency conversions of trading costs as well as profits and losses from trading activities are done using the prevailing close rate as of 17:00 New York time, plus/minus 1.0%.

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Saxo Capital Markets South Africa is an authorized Financial Services Provider and regulated by the Financial Services Board, registration number 40983. Registered address: The Place, 1 Sandton Drive, Sandown, Johannesburg, South Africa.  

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