# Financing, margin and exposure

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1 MODULE 2 Spread betting Financing, margin and exposure

2 FINANCING, MARGIN AND EXPOSURE 2 How to use this module Navigation There are two navigation systems in this PDF. You can move forwards and backwards using the arrows at the top of the page. You can also navigate back to the contents page using the button in the header. Printing To print this document you ll need to exit the full screen mode by pressing Esc on your keyboard. This will then give you the menu bars at the top of the screen. Then proceed to print as you normally would. To return to the full interactive screen PDF press Ctrl L on your keyboard.

10 FINANCING, MARGIN AND EXPOSURE 10 More examples of how to calculate margin on spread bets BUYING EXAMPLE An index Buy 1 per point on the UK 100 at a price of 6, CMC s margin rate for the UK 100 is 0.25%, meaning you only have to put forward 0.25% of the total size of the position as initial margin. Total exposure price multiplied by stake Total exposure = 6, x 1 Total exposure = 6,000 INITIAL MARGIN total exposure multiplied by margin rate Initial margin = 6,000 x 0.25% Initial margin= 15 Therefore, for a 15 deposit, you will control a 6,000 position. Your profit or loss will be relative to the total position size (total exposure) and is not limited to the 15 initial margin. TIQ TIP You can have as many open positions as you want, as long as you have enough available cash in your account to cover your margin requirement. You have effectively borrowed 5,985 to transact this trade, therefore you will incur a daily borrowing cost on this amount if you hold the position open after 17:00 New York time.

11 FINANCING, MARGIN AND EXPOSURE 11 More examples of how to calculate margin on spread bets SELLING EXAMPLE A UK company Sell 8 per point in UK company QWE, at 1, CMC s margin rate for QWE is 5%, meaning you only have to put forward 5% of the total size of the position as initial margin. Remember that UK companies are quoted in pence. Total exposure price multiplied by stake Total exposure = 1, x 8 INITIAL MARGIN total exposure multiplied by margin rate Initial margin = 8,000 x 5% initial margin= 400 Therefore, for a 400 deposit you will control an 8,000 position. Your profit or loss will be relative to the total position size (total exposure) and is not limited to the 400 initial margin. You have effectively borrowed 7,600 to transact this trade, therefore you will incur a daily borrowing cost on this amount if you hold the position open after 17:00 New York time. TIQ TIP Total exposure = 8,000 You can view the amount of margin required for each trade on the order ticket prior to placing the trade.

12 FINANCING, MARGIN AND EXPOSURE 12 More examples of how to calculate margin on spread bets Did you know you can view the amount of margin you have currently used on your trading dashboard? The remaining money in your account that is not being used is known as your Cash. Take a look at your account balance at the bottom right-hand side of your screen. Margin you use can be seen under Margin. TIQ TIP In Module 3 we will explain how stop losses can limit your potential losses. These are essential if you want to reduce your risks.

16 FINANCING, MARGIN AND EXPOSURE 16 Factsheets Factsheets allow you to view all product information for the instrument you re interested in, in one location. You can find margin levels, spreads, trading hours, news, background information and live charting all within a product s factsheet. How to access a product s factsheet You can access a factsheet whenever you see this icon. So you can access factsheets from search results in the Product Library, from Watchlists, from your Account section, from charts, and even from Insights (under Related Products). Each factsheet is simply laid out so you can view all the product information quickly and easily. The name of the product is displayed prominently in the top left-hand corner, in this case it s Gold. You ll see its corresponding live quote price at the top right of the factsheet. To trade at any time simply click either the buy or sell price to bring up an order ticket. A short descriptive paragraph outlines the main information about the product. Influencing factors describes the various factors that could affect the price movement of the product, such as important economic indicators, data releases and supply and demand influences. And background information outlines the product s history and its relevant sector and industry information.

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