Best Thread Capital Spreads

Spread

Simon,

Is it possible to add in on the "information" button the current spread of the share/index/etc.

Its a bit of a shock sometimes to see what the spread is only at the time of the trade fill.
 
capitalspreads said:
splitcap

umm well yes maybe somebody will, but the margins we require against positions is in reality very small. The gearing we allow our clients is not the gearing we are allowed with our clearers so whilst you get nothing on your deposits they are in reality small compared to the deposits normally required for running these size of positions.

A client with a quarterly contract in an equity would be wise to have at least 5% margin on deposit and I feel that the loss of income on just 5% does not even vaguely compare with the loss of income on 100% if you actually bought the shares outright. Fair enough the quarterly contract does have a cost of carry rate but this does no impact if the shares move in your favour in the short term, in reality you still have a very large footprint for a very small sum of money.

At the end of the day CS is a bookmaker (regulated by the FSA of course but still a bookie) you would hardly expect Betfair or Ladbrookes to pay you interest on money held with them. If we started paying interest then we would have to deduct tax etc etc and report to the inland revenue etc etc. The cost of monitoring this would just not be worth it. As I have said in the past on this thread "if you want interest on your money, keep it in a bank".

Cheers

simon
Click to expand...

capitals-


IG Index and CMC do give interest, if they can why not Capitals?

thanks
 
General

Kyoto

at CS we are slightly in a difficult posisiton over clients being permitted access to L2 to place trades and then commuting this into a spread bet. Betting is placing a trade via the 'bookie'. If you trade via the real exchange then the IR may consider this to be trading not betting. At CS we had legal opinion three years ago which (like most lawyers opinion) was not conclusive but veered towards the negative. So we are unlikely to change this.

Splitcap

yes BUT one both charge much larger margins for positions, one insists on you having funds to have an account and neither pays money on margined funds. If you wish to have interest on your money I would suggest you move it into your savings accounts until such times as you need it for margin.

Marlintrdg

not sure about your point here. The spread is basically the bid offer on the trading ticket opened when you place a trade. For Indices, currency, commodities and Bonds this spread is fixed in our trading hours (except for FTSE which widens out of LIFFE hours and FX which widens overnight). The spread on stocks to a great degree depends upon the underlying market bid/offer as we add/subtract our spread from this.

Tornhil

bit of a problem on our end on that . We tried to get this in the system but in the end could not change the platfrom to accomodate this without compromising the other areas. We will be adding more markets soon. Just trying to sort out a few bugs.

simon
 
chart ftse rolling daily 5min

sorry that i again writting but there is maybe some problem on the chart of ftse. rolling daily
when i look at 1 min chart it ends at 21,00.
but on 5 min. chart at 7,00 am when first bar of the new day appears last price is at 20,00 and not 21,00 one hour is lost. during the day it comes back.
this fact destroy indicators at beginnig of the day.

so 1min, 3min. charts are OK

5min,10min. 15min. charts are bad.

can you look at it ???
thank you
 
alf

ftse charts

must admit i have never seen this and I look at the FTSE charts every day (especially in the mornings). I will see if I can replicate your problem but at the moment I can see no such effect.

Is this a general problem or did you just notice it today?

Simon
 
chart ftse rolling daily 5min

it is OK today but last week every day there was errorr.

i am very glad that it is ok now.

thank you
 
Simon How aout adding the Spanish Index and the aussie Index to list of instruments to trade with

rgds
 
oh, and just thought - would it be possble to put the swap rate on the info ticket for each instrument? - would be great not to have to get the calculator out to work out if it's positive swap or not.
 
new markets

Zarif

curiously enuf you are the first person in almost 4 years to ask for the spanish index (i even had to look it up to remind myself of it name). It would appear that there is b****r all real interest in many of the market indices that we quote.

The heaviest traded futures index in europe is the euro stoxx and yet we get almost no trades on it at all. It would appear that spread betters have different foci to professional traders.

I will look into it but until we get a local partner the cost will probably outweigh the returns. Unfortunately exchange prices are getting more and more expensive to stream

fx trader

mmm not really looked at the minors for a while . I will ask the dealers if they would be happy putting them to 24hr. I think that the liquidity is just not there out of hours and so arbs would be too easy to come by.

swap rates are merely the base rate of the two local currency units (2nd minus 1st). I will look at whether this is something that could be displayed.

Simon
 
thanks Simon, not looking for arbs, tho i guess some might - just to ensure that trades are closed on stop hits overnight, particularly as some are jpy pairs. Its a bit disconcerting sat there waiting for 7am on my swing trades.

at 9:01pm it's like being on death row and having no control at all :)

just to give an example, tonight i have gbpchf long +179 pips, audcad short +148 nzdjpy long +34 - all of which i now have no control over.

also strange that i could have an open rolling daily gbpjpy but not the june contract (silly really cos im long!! and could have had the +swap)
 
fxwinner

nice to see your three positions are net 63 pips up this morning....i will have to go thru our open positions to find out who you are(!!!) as there cannot be many with that combination of open bets.

I know that we had major problems with the liquidity in the gbp/chf but not sure about the others. The problem is that for the major crosses these are fully 24 hr markets but for many of the minor FX pairs the quoting banks seem to just stop at around 9pm UK time.

simon
 
filling orders

Hi Simon, have you by any chance changed the way orders are filled? I had a tiny order to sell some euro's but the market got choppy around the us new home sales data (its usually not a big mover), and the price went through my order price pretty quick. I was waiting to get filled at the next best price, but the order just stayed on the system for half an hour, and in the end I cancelled it and traded the live price (this worked just fine). It's no problem as it wasn't a stop-loss but a new order, so I wasn't pulling my hair out or anything...just wondering if things might have changed, or was it just a slip-up?
 
abo

no slip up just one of those wonderful upgrades that seem to work but dont.

all orders were eventually filled at the correct levels (if clients left them) but hopefully we are back to normal now. Clients were in the nice position of just leaving a stop/new order in place or moving/deleting them as they saw fit. Wish I could have the same choice in the 'real' markets.

cost us a bit but 'ce la vie'

Simon
 
bah, so if I'd left it on it would have eventually gone through and made money...I lost out big time and will be filing complaints with the FSA, The Financial Ombudsmen, the FBI, MI5, the CIA, the Airport Authority, the RSPCA, and Amnesty International !

... actually, I really don't mind (I could have phoned up to see what the goings ons were). These things occassionally happen, and I've found you are always fair in these matters.

: )
 
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