Futures Trading Conditions

 

 

Futures Trading Conditions

Online Contracts

Futures Contracts are available to trade online  on the SaxoTrader platform:

See all  Futures Contract specifications

 

Note: The schemes are quoted in local exchange times.

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.

When Stop orders and Stop-Limit orders are not supported by the exchange, Saxo Bank offers the ability to execute stop orders through synthetic orders, which is triggered if the underlying asset is traded with a minimum of one lot.

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 of the fills.

Expiry for Futures Contracts

With Saxo Bank you avoid physical delivery of the underlying asset on expiry of a Futures Contract, which is not supported. Therefore, we advise you to take note of the expiry and first notice dates (FND) for any Futures Contracts in which you have positions and ensure that they are closed before the appropriate day, as described below. 

  • If the expiry day is prior to the first notice day (FND) the contract will be closed on the expiry day.
  • If the FND is the same or prior to the expiry day the contract will be closed the weekday prior to the FND.
If futures positions are not closed before the relevant date, Saxo Bank will close the position on your behalf at the first available opportunity at the prevailing market rate. Any resulting costs, gains or losses will be passed on to the you.
If you require any assistance or clarification regarding the expiry of Futures Contracts, please contact our Client Trading Services Team.

Brazilian Futures

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

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.

Stop Limit orders

Stop orders without Limits are not accepted.

The limit price specified within a Stop Limit order cannot be further away from the stop price than the specified values below.

​Base Contract

​Description ​Ticks
AP​ SPI 200 Index Future​ 4​
BB​ 90 Day New Zealand Bank Bill Futures​ 2​
IB​ ASX 30 Day Interbank Cash Rate​ 4​
IR​ 90 Day Bank Accepted Bills​ 2​
XT​ 10 Year T-Bond​ 4​
YT​ 3 Year T-Bond​ 2​
 

In the case of an order being placed where the limit price is greater than the above acceptance criteria, 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.

Special conditions for Euronext Paris Commodities (Matif)

For Milling Wheat, Corn, Rapeseed & Malting Barley Saxo Bank must follow Exchange Rules with effect up to 5 days prior to expiry. As a consequence:

  • Short positions may be forced closed within five days from the expiry day with a cut-off time of 16:00 CET daily.
  • All open positions will be forced closed one day prior to expiry, where circumstances apply.
Updated 1st March, 2013