The SPX500’s underlying instrument is the E-Mini S&P 500 Future. The S&P 500 stock market index, comprises 500 large-cap American companies covering about 75 percent of the American equity market by capitalization. Examples: Delta, eBay, Halliburton, Yum! Brands etc. The S&P 500 was developed and continues to be maintained by S&P Dow Jones Indices, a joint venture majority-owned by McGraw Hill Financial that publishes many stock market indices such as the S&P Midcap 400, the S&P Small Cap 600 and the S&P Composite 1500.
Can be viewed in the dealing rates and create order windows on the trading station, or by using the CFD Product Guide.
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Please note, however, that hours are subject to change based on Daylight Savings Time. Also, Friedberg Direct’s Index Products do not expire, but Friedberg Direct indices will not be open for trading during in which the reference markets are closed.
The SPX500 has a target spread of 5 pips/points.
Max Contract Size
The maximum number of contracts per click (trade) for the SPX500 is 5,000.
Minimum Pip Cost (Value)
The SPX500 has a minimum value of $0.10 per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value).
The pip/point location is shown below. Each 0.1 price movement on the SPX500 is 1 pip/point. Friedberg Direct’s pricing displays an additional decimal place - ideal for scalpers in a fast-moving market.
Number of Friedberg Direct Contracts to Equal 1 Future
50 Friedberg Direct SPX500 Contracts are currently equivalent to one E-mini S&P Future.
The SPX500 does have financing cost (Rollover). For further information regarding financing costs, click here Applicable to most cash indices, dividend payments will be applied as debit/credit within the rollover amount for your open positions. Adjustments will apply on the eve of the ex-dividend date of the constituent members of the relevant Index. The adjustment will appear as part of the rollover debit/credit on your statement.
With Friedberg Direct’s new Enhanced Execution, there is no minimum stop distance for the SPX500.