Margin Foreign Exchange

Transcription

1 SCHEDULE DATED 26 MAY 2015 RELATING TO THE PRODUCT DISCLOSURE STATEMENT DATED 26 MAY 2015 FOR MARGIN FOREIGN EXCHANGE AND FOREIGN EXCHANGE OPTIONS ISSUED BY HALIFAX NEW ZEALAND LIMITED Halifax New Zealand Limited (FSP412726) Date 15th May 2015 HALIFAX NZ Schedule to Product Disclosure Statement 1

2 Contents Introduction... 3 ANNEXURE A: Default liquidation thresholds for trading platforms... 4 ANNEXURE B: Minimum trade thresholds... 5 ANNEXURE C: Commission rates... 7 ANNEXURE D: Rollover arrangements ANNEXURE E: Fee schedule with respect to financing charges HALIFAX NZ Schedule to Product Disclosure Statement

3 1. Introduction This is a Schedule to the product disclosure statement (PDS) dated 26 May 2015 for margin foreign exchange and foreign exchange options (FX Products) issued by Halifax New Zealand Limited (Halifax). It is incorporated by reference into the PDS and is subject to the terms of the Client Service Agreement. Capitalised terms used in this Schedule have the meaning given to them in the PDS. When we use the terms Halifax, we, our or us in this Schedule, the reference is to Halifax. When we use the term you we mean you as the applicant for, or holder of, the FX Products described in the PDS and this Schedule. When we refer to client we mean you, or another applicant for, or holder of, the FX Products described in the PDS and this Schedule. To the extent permitted by law, neither Halifax nor its affiliates accepts any responsibility for errors or misstatements, negligent or otherwise, nor for any direct, indirect, consequential or other loss arising from any use of this document and/or further communication in relation to it. HALIFAX NZ Schedule to Product Disclosure Statement 3

4 ANNEXURE A: DEFAULT LIQUIDATION THRESHOLDS FOR TRADING PLATFORMS TRADING PLATFORM DEFAULT LIQUIDATION THRESHOLD Halifaxonline 150% Trader Workstation 100% Meta Trader 4 100% 4 HALIFAX NZ Schedule to Product Disclosure Statement

5 ANNEXURE B: MINIMUM TRADE THRESHOLDS *Only applies to Halifaxonline platform Cross Minimum Threshold AUDCAD AUD 2,000,000 AUDCHF AUD 12,000,000 AUDCZK AUD 750,000 AUDDKK AUD 2,000,000 AUDEUR AUD 3,575,000 AUDGBP AUD 3,625,000 AUDHUF AUD 750,000 AUDJPY AUD 15,000,000 AUDNOK AUD 1,500,000 AUDNZD AUD 8,000,000 AUDPLN AUD 750,000 AUDSEK AUD 4,000,000 AUDSGD AUD 750,000 AUDUSD AUD 20,000,000 CADCHF CAD 3,000,000 CADEUR CAD 16,900,000 CADJPY CAD 2,500,000 CADNOK CAD 750,000 CADSEK CAD 1,500,000 CADUSD CAD 6,875,000 CHFAUD CHF 2,525,000 CHFCZK CHF 1,250,000 CHFDKK CHF 2,500,000 CHFHUF CHF 1,000,000 CHFJPY CHF 2,250,000 CHFNOK CHF 12,000,000 CHFPLN CHF 1,000,000 CHFSEK CHF 3,000,000 CHFTRY CHF 750,000 CHFUSD CHF 11,700,000 CHFZAR CHF 750,000 DKKCZK DKK 2,500,000 DKKHUF DKK 2,500,000 DKKJPY DKK 25,000,000 DKKZAR DKK 2,500,000 EURAUD EUR 5,000,000 EURCAD EUR 6,000,000 EURCHF EUR 10,000,000 Cross Minimum Threshold EURCZK EUR 3,500,000 EURDKK EUR 12,500,000 EURGBP EUR 15,000,000 EURHKD EUR 2,500,000 EURHUF EUR 4,000,000 EURILS EUR 500,000 EURJPY EUR 20,000,000 EURMXN EUR 1,000,000 EURNOK EUR 10,000,000 EURNZD EUR 4,000,000 EURPLN EUR 4,000,000 EURRUB EUR 1,000,000 EURSEK EUR 12,500,000 EURSGD EUR 2,500,000 EURTRY EUR 2,000,000 EURUSD EUR 25,000,000 EURZAR EUR 1,500,000 GBPAUD GBP 2,000,000 GBPCAD GBP 7,500,000 GBPCHF GBP 4,500,000 GBPCZK GBP 500,000 GBPDKK GBP 3,000,000 GBPEUR GBP 2,950,000 GBPHUF GBP 500,000 GBPJPY GBP 5,000,000 GBPNOK GBP 2,000,000 GBPNZD GBP 1,250,000 GBPPLN GBP 500,000 GBPSEK GBP 2,000,000 GBPSGD GBP 750,000 GBPUSD GBP 20,000,000 GBPZAR GBP 500,000 HKDJPY HKD 8,750,000 JPYDKK JPY 470,000,000 JPYEUR JPY 2,700,000,000 JPYNOK JPY 429,500,000 JPYUSD JPY 675,000,000 NOKDKK NOK 25,000,000 NOKJPY NOK 25,000,000 NOKSEK NOK 50,000,000 NOKUSD NOK 82,000,000 NZDAUD NZD 2,200,000 HALIFAX NZ Schedule to Product Disclosure Statement 5

6 Cross Minimum Threshold NZDCAD NZD 2,000,000 NZDCHF NZD 2,000,000 NZDCZK NZD 500,000 NZDDKK NZD 2,000,000 NZDEUR NZD 3,150,000 NZDGBP NZD 2,500,000 NZDHUF NZD 500,000 NZDJPY NZD 7,500,000 NZDMXN RFQ only NZDNOK NZD 3,000,000 NZDPLN NZD 500,000 NZDSEK NZD 2,000,000 NZDSGD NZD 750,000 NZDUSD NZD 15,000,000 NZDZAR RFQ only PLNJPY PLN 2,500,000 SEKDKK SEK 25,000,000 SEKJPY SEK 25,000,000 SEKNOK SEK 56,250,000 SGDJPY SGD 2,000,000 USDCAD USD 25,000,000 Cross Minimum Threshold USDCHF USD 12,500,000 USDCNH USD 5,000,000 USDCZK USD 1,750,000 USDDKK USD 10,000,000 USDHKD USD 7,500,000 USDHUF USD 4,000,000 USDILS USD 1,500,000 USDJPY USD 25,000,000 USDMXN USD 2,500,000 USDNOK USD 13,000,000 USDPLN USD 5,000,000 USDRUB USD 2,000,000 USDSEK USD 13,000,000 USDSGD USD 3,500,000 USDTRY USD 3,000,000 USDZAR USD 2,000,000 XAGUSD XAG 55,000 XAUCHF XAU 1,500 XAUEUR XAU 1,000 XAUUSD XAU 2,500 XAUXAG XAU 1,000 6 HALIFAX NZ Schedule to Product Disclosure Statement

7 ANNEXURE C: COMMISSION RATES Halifaxonline Target in pips) Min AUDCAD AUDCHF AUDCNH AUDCZK AUDDKK AUDEUR AUDGBP AUDHKD AUDHUF AUDJPY AUDMXN AUDNOK AUDNZD AUDPLN AUDSEK AUDSGD AUDTRY AUDUSD AUDZAR CADCHF CADEUR CADJPY CADMXN CADNOK CADPLN CADSEK CADSGD CADTRY CADUSD CHFAUD CHFCZK CHFDKK CHFHUF CHFJPY CHFMXN CHFNOK CHFPLN Target in pips) Min CHFSEK CHFSGD CHFTRY CHFUSD CHFZAR CNHHKD CNHJPY CZKPLN DKKCZK DKKHUF DKKJPY DKKPLN DKKSGD DKKZAR EURAUD EURCAD EURCHF EURCNH EURCZK EURDKK EURGBP EURHKD EURHRK EURHUF EURILS EURJPY EURLTL EURMXN EURNOK EURNZD EURPLN EURRON EURRUB EURSEK EURSGD EURTRY EURUSD EURZAR GBPAUD GBPCAD GBPCHF HALIFAX NZ Schedule to Product Disclosure Statement 7

8 Target in pips) Min GBPCZK GBPDKK GBPEUR GBPHUF GBPILS GBPJPY GBPMXN GBPNOK GBPNZD GBPPLN GBPSEK GBPSGD GBPTRY GBPUSD GBPZAR HKDJPY HUFJPY JPYDKK JPYEUR JPYNOK JPYUSD MXNJPY NOKDKK NOKJPY NOKSEK NOKUSD NZDAUD NZDCAD NZDCHF NZDCZK NZDDKK NZDEUR NZDGBP NZDHKD NZDHUF NZDJPY NZDMXN NZDNOK NZDPLN NZDSEK NZDSGD Target in pips) Min NZDTRY NZDUSD NZDZAR PLNDKK PLNHUF PLNJPY PLNSEK SEKDKK SEKJPY SEKNOK SEKPLN SGDHKD SGDJPY TRYDKK TRYJPY TRYZAR USDAED USDAUD USDBHD USDCAD USDCHF USDCNH USDCZK USDDKK USDHKD USDHRK USDHUF USDILS USDJOD USDJPY USDKWD USDLTL USDMXN USDNOK USDOMR USDPLN USDQAR USDRON USDRUB USDSAR USDSEK HALIFAX NZ Schedule to Product Disclosure Statement

9 Target in pips) Min USDSGD USDTHB USDTRY USDZAR XAGAUD XAGEUR XAGHKD XAGJPY XAGUSD XAUAUD XAUCHF XAUCNH XAUEUR XAUHKD XAUJPY XAURUB XAUTHB XAUTRY XAUUSD XAUXAG ZARJPY GAIN Meta Trader Target Min AUDCAD AUDCHF AUDJPY AUDNZD AUDUSD CADCHF CADJPY CHFJPY EURAUD EURCAD EURCHF EURCZK EURDKK EURGBP Target Min EURHUF EURJPY EURNOK EURNZD EURPLN EURSEK EURTRY EURUSD GBPAUD GBPCAD GBPCHF GBPJPY GBPNZD GBPUSD NZDCAD NZDCHF NZDJPY NZDUSD SGDJPY USDCAD USDCHF USDCNH USDCZK USDDKK USDHUF USDJPY USDMXN USDNOK USDPLN USDRUB USDSGD USDTRY USDZAR XAG/USD XAU/AUD XAU/CHF XAU/EUR XAU/GBP XAU/JPY XAUUSD ZARJPY HALIFAX NZ Schedule to Product Disclosure Statement 9

10 Trader Work Station Minimum commission rate in percentage of Notional Value) Maximum commission rate in percentage of Notional Value) Standard commission rate in percentage of Notional Value) Minimum fee All currency pairs 0.002% 0.20% 0.004% US $ HALIFAX NZ Schedule to Product Disclosure Statement

11 ANNEXURE D: ROLLOVER ARRANGEMENTS Platform Halifaxonline Trader Work Station Meta Trader Rollover Rollovers are calculated at 5:00 p.m. EST (US) based on the Notional Value of the position and the interest rates at that time. Depending on the interest rates of the Metal or, you may pay or receive different rates. The benchmark swap rates can be found via The amounts paid or received can be viewed within the Trading Platform in the Forex Rollovers statement under the Reports section. No Rollovers exist within the Trader Work Station platform. Interest may however still be paid on negative cash balances held overnight. Interest is based on the cash balance under Real FX balance, which can be viewed within the Trading Platform. There is no interest paid on positive cash balances under Real FX balance. For further details, please refer to Annexure D of this Schedule. Rollovers are calculated at 5:00 p.m. EST (US) based on the Notional Value of the position and the interest rates at that time. Depending on the interest rates of the Metal or, you may pay or receive the different ates. The swap rates can be found via or via the Trading Platform. The amounts paid or received can be viewed within the Trading Platform under History via the terminal, or you can view the amounts paid or receive via the daily or monthly statements sent. HALIFAX NZ Schedule to Product Disclosure Statement 11

12 ANNEXURE E: FEE SCHEDULE IN RESPECT OF FINANCING CHARGES Platform Interest Conversion Cost Halifaxonline Trader Work Station Gain Meta Trader Unless otherwise negotiated with Halifax, there is no interest applied on Trading Accounts with positive Net Free Equity. If a Trading Account contains negative Net Free Equity, Halifax will charge interest on the account at the daily underlying LIBOR ask rate plus 7.00% of the Trading Account (for example, if your Trading Account held NZD, and the NZD LIBOR is 4.00% per annum, you will be charged interest at a rate of 11.00% per annum). This example is provided for illustrative purposes only. Interest is accrued on a daily basis and applied monthly to your Trading Account on the first business day of the following month. No interest is paid or received if you open and Close Out a position on the same day. Unless otherwise negotiated with Halifax, there is no interest applied on Trading Accounts with positive Net Free Equity. Interactive Broker accounts allow multiple currencies held at any one time and if a particular currency contains a negative cash balance, Halifax will charge interest on the account at the relevant interest rate supplied through Interactive Brokers (shown at php?f=interest&p=schedule2) plus 1.00% of the underlying currency dependent on the balance tier (for example, if your Trading Account held NZD 50,000, and the benchmark interest rate is 4.00% per annum, you will be charged interest at a rate of 5.00% per annum). Interest is accrued on a daily basis and applied monthly to your Trading Account on the third business day of the following month. No interest is applied on positive or negative Net Free Equity in a trading Account. If the Terms for a Margin FX Transaction is not your Trading Account, then Halifax will apply a Conversion when converting your profits or losses on the Margin FX Transaction back to your Trading Account. The Conversion (calculated as a percentage of the relevant Exchange Rate) will not exceed 0.75%. The result will be the as expressed in pips which will be added or subtracted from the Exchange Rate offered by the Platform Counterparty (this rate includes Saxo Capital Markets spread). This will be applied on a per Transaction basis. The rate of the conversion can be found in Trades Executed section under the Reports section of your Halifaxonline account. The time at which Halifax will convert gains or losses on Closed Out Margin FX Transactions to your Trading Account may be at the discretion of the client, or at the discretion of Halifax with the permission of the client. The rate of the conversion can be found in the Trades section under the Activity Statement within Account Management, or under the Trade Log from within the Trading Platform. The conversion rate used to convert gains or losses on Closed Out Margin FX Transactions to your Trading Account is the then current rate of the specific currency at the time of the Closing Out. 12 HALIFAX NZ Schedule to Product Disclosure Statement