We quote on currencies from both of the world’s main exchanges, the IMM and FINEX. The IMM prices are quoted inversely - for example, on the IMM (which is quoted in Chicago), the Japanese Yen is quoted US$ against the Yen. So if it is quoted as 0.008237 US$ to one Yen, it is quoted as 8237. On the Finex exchange (quoted in Dublin and New York), it is quoted as Yen to US$, eg 121.40.

You can place a bet on any direction for as little as £1/point, depending on the currency in these markets:

• IMM Euro
• IMM (GBP)
• IMM Yen
• IMM Swiss
• IMM Aussie
• IMM Canadian
• Finex $/ Yen
• Finex $/ Swiss
• Euro/ Sterling
• Euro/ Yen
• Euro/ Swiss
• Sterling/ Yen
• Sterling/ Swiss

Daily Rolling Bets

Rolling bets have been introduced to provide a transparent, cost effective solution for short term trading on Currency Markets. The normal advantages of spread betting still apply, namely tax-free* margin trading and the ability to bet on prices rising as well as falling.  T

he Rolling markets are based on the underlying spot market (similar to our Daily Spot FX markets) but with the advantage of being able to maintain a position over an extended period. Open positions held over night will be closed and re-opened at the same price, being the end of day valuation of that market. This will have the effect of realising any profit or loss on your position on a daily basis. Financing charges are levied overnight. Rolling bets can be opened and closed at any time during normal trading hours.

Financing Example

If you had bought EUR/USD Rolling Spot, then the daily financing charge is the EUR one day deposit rate vs the USD one day borrowing rate (e.g. 2.25% - 4.08% = -1.83%).

EUR/USD rate = 11720
Financing = 11720 x -1.83% / 360 days = - 0.6 ticks

If you had been long £10 of EUR/USD Rolling per tick then the financing would have been – 0.6 x £10 = £6 debit to your account.

* Refers to UK Capital Gains Tax regime which can of course change.

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