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Trading Fees

Fee Structure

Fees for

's Trade Execution Services are calculated as a percentage of notional, with this percentage varying according to the product (Future, Option) traded and the venue the trade is executed on. Notional calculation method depends on the type of trade.

Venue
CME
futures
0.01%
options ON FUtures
0.02%

No further discounts are applicable.

Notional Calculation

Futures

  • Single Leg: Notional = Q * P, where Q = Quantity, P = Execution Price

Options on Futures

  • Single Leg:

    • Outright: Notional = Q * M_F * M_O * S, where Q = Quantity, M_F = Future Multiplier, M_O = Option Multiplier, S = Spot Index from relevant venue

    • Delta Hedged with Future: Notional = Q * M_F * M_O * R, where Q = Quantity, M = Option Multiplier, R = Future Reference Price used in the RFQ

Exchange Fees

In addition to the fee structure outlined above, members may be required to pay additional fees charged by the exchange listing the product. Members are required to familiarise themselves with any additional fees charged outside of the

fee structure, and must meet any obligation that they may have in this respect.

Payment

Please note that the Financial Conduct Authority Inter Professional guidance and the Bank of England’s Code of Conduct require that brokerage bills be paid promptly and we therefore respectfully request that payment of your monthly brokerage account is made upon receipt.

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