CFD Stock Indices (Cash)

Index	GFC Spread in (out of) market hours	IM Factor (Margin Req)	GFC Trading Hours	Basis of Price Used for Finance Adjustments	Min/ Max Size (max out of hours)	† Tick Factor	Example Price	Curr- ency	Guaranteed Stops (charge / minimum distance)	Underlying Index	Last Update
Australia 200 Index	2 (4 for night session)	0.5%	24 hours with a 5 minute break from 16:00 to 16:05 Sydney time. (Open 23:00 London time on Sundays; Close 21:15 London time on Fridays)	GFC quote 22:00 London time	1 / 250	1 index point	5502.5	AUD	3 / 50	S&P/ASX200™	1/4/2008 1:55:05 PM
Belgium 20 Index	2.0	1%	UK 08:10 - 16:25; Brussels 09:10 - 17:25	GFC quote at 22:00 London time	1/500	1 index point	4247.3	Euro	5 / 120	BEL 20 Index™	1/23/2008 2:25:31 AM
EU Stocks 50 index	2	1%	UK 8:00 - 16:30 Local 9:00 - 17:30	GFC quote 22:00 London time	1 / 500	1 index point	3804	€	3 / 100	Dow Jones EURO STOXX50 Index™	1/23/2008 2:29:09 AM
France 40 index	2 (6)	0.50%	Local 17:35 - 17:30 (ie 24 hours with a 5 min break); UK 16:35 - 16:30 (Friday close 22:15 CET, Monday open 00:00 CET)	GFC quote 22:00 London time	1 / 500 (100)	1 index point	5601.3	EUR	2 / 50	CAC40 Index™	1/4/2008 1:56:58 PM
Germany 30 Index	2 (10)	0.5%	UK 16:35 - 16:30 Local 17:35 - 17:30 (Friday close 22:15 CET, Monday open 00:00 CET )	GFC quote 22:00 London time	1 / 500 (100)	1 index point	6053	€	2 / 50	Xetra DAX Index™	1/4/2008 1:57:31 PM
Hong Kong 40 index	15	1%	Hong Kong 09:45 - 12:30; 14:30 - 16:00	GFC quote 22:00 London time	10 / 2500	1 index point	16830	HKD	10 / 750	Hang Seng Index™	1/29/2008 3:18:38 AM
Italy 40 Index	15	1%	UK 8:10 - 16:25 Local 9:10 - 17:25	GFC quote 22:00 London time	1 / 250	1 index point	37557	€	10 / 1000	S&P/MIB Index™	1/23/2008 2:30:38 AM
Japan 225 index	12	1%	24 hours, but we do not quote Singapore lunch break at 10:15 to 11:15 Sing. time, nor the break in CME hours from 15:15 to 15:30 Chicago time. Sundays open 23:00 London time, Fridays close 21:15 London time	GFC quote 22:00 London time	100 / 20000	1 index point	17100	Yen	10 / 400	SGX Nikkei 225 Futures Index™	1/23/2008 2:31:14 AM
Netherlands 25 Index	0.3	1%	24 hours with a 5 minute break from 17:30 to 17:35 CET (Friday close 22:15 CET, Sunday open 00:00 CET)	GFC quote 22:00 London time	1/2000	1 index point	476.3	€	0.3 / 10	AEX-Index™	2/5/2008 6:19:05 AM
Spain 35 Index	5	1%	UK 8:00 - 16:30 Local 9:00 - 17:30	GFC quote 22:00 London time	1 / 250	1 index point	11885	€	5 / 400	IBEX-35 Index™	2/5/2008 6:16:00 AM
Switzerland 20 Index	3	1%	UK 08:00 - 16:20; Switzerland 09:00 - 17:20	GFC quote at 22:00 London time	1/500	1 index point	8541.5	€	5 / 275	SWX SMI Index™	2/5/2008 6:20:10 AM
UK 100 Index	2 (6)	0.75%	UK 16:35 - 16:30 (Friday close 21:15, Sunday open 23:00 London time)	GFC quote 22:00 London time	1 / 500 (100)	1 index point	6100	GBP	2 / 50	FTSE 100™	1/4/2008 2:01:56 PM
US Small Cap 2000 Index	0.4	1%	24 hours, with a break from 15:15 to 15:30 Chicago time and 16:30 to 17:00 Chicago time. Sundays open 17:00 and Fridays close 15:15 Chicago time.	GFC quote 22:00 London time	1/ 500 (100)	1 index point	722	$	0.5 / 5	Russell 2000 Index™	1/25/2008 4:59:24 AM
US SPX 500 Index	0.5	1%	24 hours, with a break from 15:15 to 15:30 Chicago time and 16:30 to 17:00 Chicago time. Sundays open 17:00 and Fridays close 15:15 Chicago time.	GFC quote 22:00 London time	1 / 5,000 (1,000)	1 index point	1313.2	$	.4 / 10	S&P 500 Index™	1/25/2008 5:00:27 AM
US Tech 100 Index	2	1%	24 hours, with a break from 15:15 to 15:30 Chicago time and 16:30 to 17:00 Chicago time. Sundays open 17:00 and Fridays close 15:15 Chicago time.	GFC quote 22:00 London time	1 / 2,500 (500)	1 index point	1698	$	1 / 10	Nasdaq 100™	1/25/2008 5:01:07 AM
US Wall Street 30 index	4	0.75%	24 hours, with a break from 15:15 to 15:30 Chicago time and 16:30 to 17:00 Chicago time. Sundays open 17:00 and Fridays close 15:15 Chicago time.	GFC quote 22:00 London time	1 / 500 (100)	1 index point	11440	$	4 / 100	Dow Jones Industrial Average Index™	1/25/2008 5:01:20 AM

CFD Stock Indices (Futures)

Index

GFC Spread in (out of) market hours

IM Factor (Margin Req)

Trading Hours

Contract Months

Last Dealing Day

Basis of Settlement

Min/ Max Size (max out of hours)

† Tick Factor

Example Price

Curr-
ency

Guaran-
teed Stops (charge / minimum distance)

Underlying Index

Last Update

Australia 200 Index

0.5%

24 hours (Open 23:00 London time on Sundays; Close 21:15 London time on Fridays)

Mar, Jun, Sep, Dec

3rd Thursday of contract month until 12:00 Sydney time

S&P / ASX final settlement price for SPI 200™ on last dealing day, basis a Special Opening Quotation of the underlying S&P/ASX 200 index.

1 / 250

1 index point

5502.5

AUD

3 / 50

S&P/ASX200™

1/4/2008 1:55:05 PM

Austria 20 Index

Underlying market spread + 3

09:00 - 17:30 CET

Mar, Jun, Sep, Dec

3rd Friday of contract month at 17:30 CET

Settlement price of the ATX index™ reported by the Wiener Borse on the first banking day following last dealing day, basis an intraday auction of the component stocks of the cash index.

1 / 1500

1 index point

4588.6

EUR

3 / 100

ATX Index™

1/23/2008 2:17:09 AM

Belgium 20 Index

3.0

UK 08:10 - 16:30; local 09:10 - 17:30

Monthly

3rd Friday of contract month until 16:00 CET

Official Euronext.LIFFE™ settlement price on last day of dealing.

1/500

1 index point

4247.3

Euro

5 / 120

BEL 20 Index™

1/23/2008 2:25:31 AM

Canada 60 Index

1.0

09:30 - 16:15 Montreal time

Mar, Jun, Sep, Dec

Business day prior to 3rd Friday of contract month at 16:15

Official Settlement Price of S&P/TSE 60™ index on the 3rd Friday of the contract month

1 / 1500

1 index point

750.8

CAD

1 / 20

S&P/TSX 60 Index™

1/23/2008 2:28:28 AM

China H-Shares Index

09:45 - 12:30; 14:30 - 16:15 Hong Kong time

Monthly

Business day immeditaely preceeding last business day of contract month at 16:00

Official Settlement Price of HKFE MSCI China Enterprise™ index on last trading day.

1 / 7500

1 index point

17199

HKD

12 / 400

Hang Seng China Enterprises Index™

2/5/2008 6:18:20 AM

EU Stocks 50 index

UK 7:00 - 21:00
Local 8:00 - 22:00

Mar, Jun, Sep, Dec

3rd Friday of contract month until 12:00 CET

EUREX™ official settlement price on last dealing day

1 / 500

1 index point

3804

€

3 / 100

Dow Jones EURO STOXX50 Index™

1/23/2008 2:29:09 AM

France 40 index

4 (10)

0.50%

24 hours (Friday close at 22:15 CET, Monday open at 00:00 CET)

Monthly

3rd Friday of contract month until 16:00 CET

Euronext.LIFFE™ official settlement price on last dealing day

1 / 500 (100)

1 index point

5601.3

EUR

2 / 50

CAC40 Index™

1/4/2008 1:56:58 PM

Germany 30 Index

4 (10)

0.5%

24 hours (Friday close 22:15 CET, Monday open 00:00 CET )

Mar, Jun, Sep, Dec

3rd Friday of contract month until 13:00 CET

EUREX™ official settlement price on last dealing day

1 / 500 (100)

1 index point

6053

€

2 / 50

Xetra DAX Index™

1/4/2008 1:57:31 PM

Hong Kong 40 index

Hong Kong 09:45 - 12:30;
14:30 - 16:15

Monthly

Business day preceding last HK business day of contract month until 16:00 HK time

HKFE™ official settlement price on last dealing day

10 / 2500

1 index point

16830

HKD

10 / 750

Hang Seng Index™

1/29/2008 3:18:38 AM

Hungary 14 index

UK 08:05 - 15:30;
Budapest 09:05 - 16:30

Dec

Thursday before 3rd Friday of contract month.

Offical Budapest Stock Exchange™ settlement price on last day of dealing.

1/10000

1 index point

25960

HUF

20/750

BUX Index™

1/23/2008 2:29:28 AM

India 50 Index

09:55 - 15:30 Calcutta time

Monthly

Last Thursday of the contract month at 15:30

Official Settlement Price of the S&P/CNX Nifty Index™ relevant futures contract

1 / 500

1 index point

5035.1

INR

3 / 150

S&P/CNX Nifty 50 Index™

1/23/2008 2:29:54 AM

Italy 40 Index

UK 8:00 - 16:40
Local 9:00 - 17:40

Mar, Jun, Sep, Dec

Business day preceding 3rd Friday of contract month until 17:30 CET

MSE™ official settlement price on 3rd Friday of contract month

1 / 250

1 index point

37557

€

10 / 1000

S&P/MIB Index™

1/23/2008 2:30:38 AM

Japan 225 index

24 hours, but we do not quote Singapore lunch break at 10:15 to 11:15 Sing. time, nor the break in CME hours from 15:15 to 15:30 Chicago time. Sundays open 23:00 London time, Fridays close 21:15 London time

Mar, Jun, Sep, Dec

Day before 2nd Friday of contract month until 14:30 Singapore time

Nikkei 225™ special opening quotation (from SGX) based on the opening prices of each component in the Nikkei 225 ™ index on the business day following the last trading day

100 / 20000

1 index point

17100

Yen

10 / 400

SGX Nikkei 225 Futures Index™

1/23/2008 2:31:14 AM

Korea 200 index

09:00 - 15:15 Seoul time

Mar, Jun, Sep, Dec

2nd Thursday of contract month at 14:50 Seoul time.

Official Settlement Price of KOSPI 200™ Index on the last trading day.

1 / 100000

0.01 of an index point

20750

KRW

20 / 600

KOSPI 200 Index™

2/5/2008 8:15:14 AM

Mexico 35 Index

30 + underlying market spread

UK 13:30 - 21:00; Mexico 07:30 - 15:00

Mar, Jun, Sep, Dec

3rd Friday of the contract month at 15:00 Mexico time

Official IPC (Mexico Bolsa Index futures™)closing price on the last dealing day

1 / 2200

1 index point

30928

MXN

30 / 800

IPC Index™

1/23/2008 10:36:29 AM

Netherlands 25 Index

0.5

24 hours (Friday close 22:15 CET, Sunday open 23:00 CET)

Monthly

3rd Friday of contract month until 16:00 CET

Official Euronext.LIFFE™ settlement price of AEX-Index on last day of dealing

1/2000

1 index point

476.3

€

0.3 / 10

AEX-Index™

2/5/2008 6:19:05 AM

Poland 20 Index

4.0

UK 08:00 - 15:10; Warsaw 09:00 - 16:10

Mar, Jun, Sep, Dec

3rd Friday of contract month at 15:00 Warsaw time

Warsaw Stock Exchange™ official settlement price on last day of dealing

1 / 500

1 index point

3699.5

PLN

3 / 85

WIG20 Index ™

1/23/2008 10:37:48 AM

Singapore Blue Chip Index

4 + underlying market spread

08:45 - 12:35; 14:00 - 17:15; 18:15 - 22:55 Singapore Time

Monthly

2nd last Singapore business day of contract month at 12:35 Singapore Time

Special Opening Quotation on day following last trading day.

1 / 3000

1 index point

454.8

SGD

2 / 10

MSCI Singapore Index™

1/4/2008 2:10:11 PM

South Africa 40 index

08:30 - 17:30 Johannesburg time

Mar, Jun, Sep, Dec

3rd thursday of the contract month at 17:30

Official Settlement Price of the FTSE/JSE Top 40 ALSI ™ index on the last day of trading

1 / 1500

1 index point

28755

ZAR

10 / 700

FTSE/JSE Africa Top 40 Index™

1/23/2008 10:36:59 AM

Spain 35 Index

UK 8:00 - 16:35
Local 9:00 - 17:35

Monthly

3rd Friday of contract month until 16:15 CET

MEFF™ official settlement price on last dealing day

1 / 250

1 index point

11885

€

5 / 400

IBEX-35 Index™

2/5/2008 6:16:00 AM

Sweden 30 index

1.5

09:00 - 17:20 Stockholm time

Monthly

4th Friday of contract month at 17:20

Difference between the previous days future closing price and a volume weighted average price of the OMXS30™ index on the expiration day.

1 / 15000

1 index point

1220.75

SEK

1 / 35

OMX Stockholm 30 Index™

1/23/2008 10:37:36 AM

Switzerland 20 Index

UK 08:00 - 16:30;
Local 09:00 - 17:30

Mar, Jun, Sep, Dec

Business day preceding 3rd Friday of contract month until 17:30 CET

Eurex™ official settlement price on day following last dealing day

1/500

1 index point

8541.5

€

5 / 275

SWX SMI Index™

2/5/2008 6:20:10 AM

UK 100 Index

3 (6)

0.75%

24 hours (Friday close 21:15, Sunday open 23:00 London time)

Mar, Jun, Sep, Dec

3rd Friday of contract month until 10:00 London time

Euronext.LIFFE™ official settlement price on last dealing day

1 / 500 (100)

1 index point

6100

GBP

2 / 50

FTSE 100™

1/4/2008 2:01:56 PM

US Small Cap 2000 Index

0.8

24 hours, with a break from 15:15 to 15:30 Chicago time and 16:30 to 17:00 Chicago time. Sundays open 17:00 and Fridays close 15:15 Chicago time.

Mar, Jun, Sep, Dec

Business day preceding 3rd Friday of contract month until 15:00 Chicago time

CME™ official settlement price on day following last dealing day

1/ 500 (100)

1 index point

722

0.5 / 5

Russell 2000 Index™

1/25/2008 4:59:24 AM

US SPX 500 Index

0.7

24 hours, with a break from 15:15 to 15:30 Chicago time and 16:30 to 17:00 Chicago time. Sundays open 17:00 and Fridays close 15:15 Chicago time.

Mar, Jun, Sep, Dec

Business day preceding 3rd Friday of contract month until 15:00 Chicago time

CME™ official settlement price on day following last dealing day

1 / 5,000 (1,000)

1 index point

1313.2

.4 / 10

S&P 500 Index™

1/25/2008 5:00:27 AM

US Tech 100 Index

24 hours, with a break from 15:15 to 15:30 Chicago time and 16:30 to 17:00 Chicago time. Sundays open 17:00 and Fridays close 15:15 Chicago time.

Mar, Jun, Sep, Dec

Business day preceding 3rd Friday of contract month until 15:00 Chicago time

CME™ official settlement price on day following last dealing day

1 / 2,500 (500)

1 index point

1698

1 / 10

Nasdaq 100™

1/25/2008 5:01:07 AM

US Wall Street 30 index

8 (far month = 10)

0.75%

24 hours, with a break from 15:15 to 15:30 Chicago time and 16:30 to 17:00 Chicago time. Sundays open 17:00 and Fridays close 15:15 Chicago time.

Mar, Jun, Sep, Dec

Business day preceding 3rd Friday of contract month until 15:00 Chicago time

CBOT™ official settlement price on day following last dealing day

1 / 500 (100)

1 index point

11440

4 / 100

Dow Jones Industrial Average Index™

1/25/2008 5:01:20 AM

† Tick Factor = the price increment representing 1 whole trading unit, by which P&L and both initial and variation margin is calculated. For non-FX CFDs, the Notional Value of your underlying transaction is Price * Number of CFDs/Tick Factor.

Out of Hours Markets

GFC Global Markets will quote some markets outside of their respective regular trading hours (“out of hours”). When out of hours, spreads may widen and maximum trade sizes may decrease as indicated. If an order is triggered out of hours in size greater than our maximum out of hours trading size, the fill price may be adjusted accordingly in order to accommodate the entire order – unless the order in question is a guaranteed stop loss order. Out of hours spreads are indicated in brackets on the Product Info sheets. Our "Out of Hours" quotes are based on but not restricted to movements in other indices when available; movements in other financial markets such as the spot forex markets; news flow; and customer order flows.

Market	Out of Hours Times
UK 100 Germany 30 France 40 US Wall Street 30 US SPX 500 US Tech 100 Australia 200 Japan 225	17:30 – 08:00 London time 22:00 – 08:00 CET 20:00 – 08:00 CET 16:00 – 18:15 Chicago time 16:30 – 17:00 Chicago time 16:30 – 17:00 Chicago time 16:30 – 09:50 Sydney time 04:30 – 07:45 Singapore time

Finance Adjustments

All finance adjustments are carried out at on open positions on cash indices at or after 22.00 London time. For examples on how the rollover process is applied, please see Examples. Finance adjustments are not made on open positions on CFD futures markets.

As you hold a position overnight, (i.e. after 22.00 UK time) a finance adjustment is made to your account. This is calculated as follows:

f = (s x p x r) / d

where

f = daily financing charge

s = your stake

p = closing price as determined by GFC Global Markets

r = relevant LIBOR rate, PLUS 300 basis points for long positions, or MINUS 300 basis points for short positions

d = number of days, i.e. 365 for UK andAustralian indices and 360 for all others

Long (buy) trade positions are debited the daily financing charge

Short (sell) positions are credited the daily financing charge

Dividends

Dividend adjustments to cash index CFD trades apply as follows:

Buy trades are credited with (number of points by which the index concerned has been adjusted x trade size).

Sell trades are debited with (number of points by which the index concerned has been adjusted x trade size).

Minimum / Maximum Trade Sizes

Maximum trading sizes vary according to underlying liquidity, market conditions and whether the underlying market is classed as being quoted by GFC Global Markets as “out of hours”, i.e. outside of regular trading hours.

The market information sheets indicate the usual minimum and maximum trading sizes in GBP; currency equivalents apply for non-GBP accounts, or when trading on markets denominated in a currency other than GBP.

Restrictions may be applied to maximum trade sizes whether opening or closing.

The minimum number of CFDs (or “trade size”) for markets with GFC Global Markets is 100 for individual equities, and 1 CFD for all other markets. The lot size of the corresponding underlying market is provided for your information, as a guide to minimum market trading size.

When you trade CFDs you are always trading the in “base” currency of the underlying market. E.g. if you trade a US share, you are trading in US dollars per one cent movement.

Trading Hours

Times shown are GFC Global Markets' usual times for trading a market; these may vary e.g. on market holidays and where daylight saving applies.

Unless indicated otherwise, times shown are London time.

Our normal dealing hours are from 22:00 Sunday to 22:00 on Friday.

Spreads

The spreads shown may vary according to underlying market liquidity, or in “fast markets”.