MARKET INFORMATION SHEETS FX OPTIONS* Pairs Available (Calls & Puts) Trading Hours Margin Requirement Contract Listings Strikes*** Option Expiration (Cut) Time** Option Contract Size Spreads as low as (in pips) Minimum Price Fluctuation Transaction Currency Pricing Conventions Example Price in Amount 1st CCY, 2nd CCY, Pips,, % of 1st CCY Last Update AUD/JPY AUD/ /CHF /GBP - - - - strikes strikes strikes strikes of, of, of, of, 9 6 9 5 1 AUD 1 AUD 1 1 AUD AUD pips, of, or % of pips, of, or % of pips, of, or % of pips, of, or % of 0.00416 AUD, 0.392 JPY, 39.2 pips, 416 AUD, 0.416% AUD 0.01975 AUD, 0.02005, 200.5 pips, 1,975 AUD, 1.975% AUD 0.00092, 0.00121 CHF, 12.1 pips, 92,.092% 0.01431, 0.01249 GBP, 124.9 pips, 1,431, 1.431%
/HUF /JPY / GBP/JPY GBP/ - - - - - strikes strikes strikes strikes strikes of, of, of, of, of, 30 10 4 30 5 1 1 1 1 GBP 1 GBP GBP GBP pips, of, or % of pips, of, or % of pips, of, or % of pips, of, or % of pips, of, or % of 0.00107, 0.313 HUF, 31.3 pips, 107, 0.107% 0.01687, 1.780 JPY, 178 pips, 1,687, 1.687% 0.00261, 0.0033, 33.1 pips, 261,.261% 0.01520 GBP, 2.84 JPY, 284 pips, 1,520 GBP, 1.520% GBP 0.00428 GBP, 0.00664, 66.4 pips, 428 GBP,.428% GBP 12/12/2014
NZD/ /CAD /CHF /JPY /MXN - - - - - strikes strikes strikes strikes strikes of, of, of, of, of, 8 7 7 6 200 1 NZD NZD pips, of, or % of pips, of, or % of pips, of, or % of pips, of, or % of pips, of, or % of 0.01330 NZD, 0.104, 104 pips, 1,330 NZD, 1.330% NZD 0.00656, 0.00652 CAD, 65.2 pips, 656,.656% 0.00687, 0.00713 CHF, 71.3 pips, 687,.687% 0.00057, 0.049 JPY, 4.9 pips, 57,.057% 0.0062, 0.07930 MXN, 793.0 pips, 62,.621%
* All policies and/or FXO contract specifications are set and are subject to change by GFT in accordance with our Terms. **If the expiration day is not a valid trade day, expiration will be moved to EST on the last available trade day before the expiration day. *** Option strikes may be added or removed without notice in order to maintain a reasonable number of out of the money strikes. Options with open customer positions are not eligible to be removed. As low as pricing is based on minimum pricing data from the 4 previous weeks. Spreads may fluctuate during times of market volatility. TRADING HOURS Times shown represent normal trading hours and do not take in to account market or public holidays during which GFT may be closed or may not quote all of the instruments normally available. FX OPTION EQUITY & MARGIN EXAMPLE Trading FX options with GFT introduces some important considerations for the measures of Total/Available Equity and Margin. Unlike other forms of spot forex and CFD trades that normally have a margin requirement associated with each individual position, GFT calculates margin differently when you trade FX options. When you sell an FX option, any position-based forex and FX option positions are combined and the margin is calculated on the overall spot forex portfolio. CFD positions will continue to have a separate margin for each position. When you open an FX option position, your Total Equity is calculated as the lesser of: Cash + Floating P/L Cash for Long FX Options This helps prevent negative equity situations that could arise if Floating P/L was available to purchase forex options. It also means the Margin Required (Margin Req.) is zero when the account has only long FX option positions. You can see an example of how margin required is calculated on short FX options positions below. For other examples, you can download the FX Option Equity & Margin guide. Example: Portfolios that Include Short FX Options Here s an example of a spot forex portfolio that includes a short FX option position:
Total Equity = 298,182.35 Which is the lesser of: Cash + Floating P/L = 299,682.35 + 32.40 = 299,714.75 Cash - for Long FX Options = 299,682.35-1,500.00 = 298,182.35 Margin Required = FX Option Portfolio Margin = $461.24 Available Equity = Total Equity Margin Required = 298,182.35 461.24 = 297,721.10* *GAIN Capital calculates Margin Req. to more decimals places than displayed, which can result in a negligible rounding difference, typically less than 0.02 of account base currency. Our services include products that are traded on margin and carry a risk that you can lose more than your initial deposit. The products may not be suitable for everyone - please ensure you fully understand the risks involved. Revised 4 April 2015.