CFD Commodities (metals, softs and oil futures)

Comm-
odity

GFT Spread

IM Factor (Margin Req)

GFT Trading Hours

Contract Months

Last Dealing Day

Basis of Settlement

Min/ Max Size

† Tick Factor

Curr-
ency

Example Price

Last Update

Brent Crude Oil Futures

Near month: 5 (14:00 to 19:30 London time; market spread will be added outside these times)
Far month market spread + 5

3%

UK 01:00 - 23:00 (close at 22:00 London time on Fridays and open at 23:00 Sundays) (can change around Daylight Savings switch)

Monthly

1st or 2nd Business day preceding the 15th day prior to 1st day of contract month at 19:30 London time. (If 15th is a non-business day, use 2nd bus. day preceding the 15th)

Official ICE settlement price on last day of dealing

1 / 100

1

$

6933

1/30/2008 8:51:37 AM

Gold Futures

.7

3%

UK 23:00 - 22:15;
Local 18:00 - 17:15

Feb, Apr, Jun, Aug, Oct, Dec

3rd Friday or previous business day of previous month

Official COMEX settlement price of contract on last day of dealing

1 / 500

.1

$

650.3

5/4/2007 6:33:35 AM

High Grade Copper

80 (16 with trade per 00.05)

3%

18:00 – 17:15 New York time

Jan, Mar, May, July, Sep, Dec

3rd Friday or previous business day of previous month

Official COMEX settlement on last day of dealing

1 / 500

0.05

USD

307.25

4/11/2007 3:55:02 AM

London Cocoa Futures

8

5%

9:30 - 16:50

Mar, May, July, Sep, Dec

2nd Friday or previous business day of previous month until 16:50 London time

Official Euronext.LIFFE settlement price on last day of dealing

1 / 100

1

£

880

3/22/2007 10:46:26 AM

London Coffee Futures

10

5%

08:00 - 16:55

Jan, Mar, May, July, Sep, Nov

Last business day of previous month until 16:55 London time

Official Euronext.LIFFE settlement price on last day of dealing

1 / 50

1

$

1210

11/1/2007 12:58:26 PM

London Gas Oil Futures

100 (i.e. 4 with trade per 25)

4%

UK 01:00 - 23:00 (close at 22:00 London time on Fridays and open at 23:00 Sundays) (can change around Daylight Savings switch)

Monthly

5th business day prior to 14th calendar day of contract month

Official ICE settlement on last day of dealing

1/250

25

USD

58875

8/21/2007 10:03:40 AM

London Sugar Futures

10

2%

9:45 - 17:30

Mar, May, Aug, Oct, Dec

1st business day of previous month until 16:55 London time

Official Euronext.LIFFE settlement price on last day of dealing

1 / 50

.1

$

480.5

3/22/2007 10:49:10 AM

Orange Juice

50

3%

07:00 - 15:00 NY time

Jan, Mar, May, July, Sep, Nov

3rd last business day of previous month

Official ICE settlement price of FCOJ-A on last day of dealing

1 / 100

0.01

USD

146.9

12/19/2007 12:24:17 PM

Palladium Futures

40

5%

UK 23:00 - 22:15;
New York 18:00 - 17:15

Mar, Jun, Sep, Dec

3rd Friday or previous business day of previous month until 17:15 NY time

Official NYMEX settlement price on last day of dealing

1 / 50

.1

$

380.5

5/4/2007 10:32:22 AM

Platinum Futures

30

5%

UK 23:00 - 22:15;
New York 18:00 - 17:15

Jan, Apr, Jul, Oct

3rd Friday or previous business day of previous month until 17:15 NY time

Official NYMEX settlement price on last day of dealing

1 / 50

.1

$

1170.3

5/4/2007 10:32:30 AM

Silver futures

3.0

3%

18:00 - 17:15 New York time (i.e. 24 hours with a 45 minute break)

Mar, May, July, Sep, Dec

3rd Friday or previous business day of previous month until 17:00 NY time

Official NYMEX settlement price on last day of dealing.

1 / 50

0.1

USD

1393.5

11/27/2007 6:22:48 AM

Spot Gold

0.5

3%

UK 23:00 - 22:15;
Local 18:00 - 17:15

N/A

N/A

N/A - finance adjustment is made basis GFT quote at 22:00 London time

1 / 500

0.1

USD

653.5

6/26/2007 2:52:23 AM

Spot Silver

3.0

3%

18:00 - 17:15 New York time (i.e. 24 hours with a 45 minute break)

N/A

N/A

N/A - finance adjustment is made basis GFT quote at 22:00 London time

1 / 250

0.1

USD

1392.5

4/20/2007 1:42:24 PM

US Cocoa

10

3%

01:30 - 15:15 NY time

Mar, May, July, Sep, Dec

2nd Friday or previous business day of previous month

Official ICE settlement price on last day of dealing

1 / 100

1

USD

2092

12/19/2007 12:23:27 PM

US Coffee

60

3%

01:30 - 15:15 NY time

mar, May, July, Sep, Dec

2nd Friday or previous business day of previous month

Official ICE settlement price on last day of dealing

1 / 100

.01

USD

133.25

12/19/2007 12:24:02 PM

US Coffee "C"

60

3%

01:30 - 15:15

mar, May, July, Sep, Dec

2nd Friday or previous business day of previous month

Official ICE settlement price on last day of dealing

1 / 100

.01

USD

133.25

12/18/2007 8:54:03 AM

US Cotton No. 2

30

3%

01:30 - 15:15 NY time

Mar, May, July, Oct, Dec

2nd Friday or previous business day of previous month

Official ICE settlement price on last day of dealing

1 / 100

0.01

USD

65.6

12/18/2007 6:01:13 AM

US Sugar No. 11

6

8%

01:30 - 15:15 NY time

Mar, May, July, Oct

4th last business day of previous month

Official ICE settlement price on last day of dealing

1 / 100

0.01

USD

10.75

12/18/2007 6:01:30 AM

WTI Crude Oil Futures

Near month: 5 (14:00 to 19:30 London time; market spread will be added outside these times)
Far month market spread + 5

3%

UK 01:00 - 23:00 (close at 22:00 London time on Fridays and open at 23:00 Sundays) (can change around Daylight Savings switch)

Monthly

4th bus day prior to 25th calendar day of previous month; if latter is a non-bus day, 5th bus day preceding 25th cal day of prev month) at 19:30 London time

Official ICE settlement price on last day of dealing

1 / 100

.01

$

72.5

1/30/2008 8:51:48 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.

Minimum / Maximum Trade Sizes

Maximum trade sizes vary according to underlying liquidity, market conditions and whether the underlying market is classed as being quoted by GFC  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  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 underlying 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 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”.

The spreads shown for Commodities may be added to the market spread of the underlying market.