Special offer on shares

The carrying cost is calculated based on the daily margin requirement and applied when a position is held overnight.

Carrying cost = margin requirement *days held* (relevant interbank rate + markup 1.5%) / (365 or 360 days)

Initial margin

This is a pre-trade margin check on order placement, i.e. when you open a new position, there must be sufficient collateral on your account to meet the initial margin requirement.

Maintenance margin

This is a continuous margin check, i.e. the minimum amount of cash or collateral that must be maintained on your account to hold an open position. The maintenance margin is used to calculate the margin utilisation. A close-out of margin positions occurs as soon as you do not meet the maintenance margin requirement.

You will find the initial and maintenance margin of Forex CFDs in the platform under Trading conditions.

Example:

The carrying cost is calculated based on the daily margin requirement and applied when a position is held overnight.

Carrying cost = margin requirement *days held* (relevant interbank rate + markup 1.5%) / (365 or 360 days)

Initial margin

This is a pre-trade margin check on order placement, i.e. when you open a new position, there must be sufficient collateral on your account to meet the initial margin requirement.

Maintenance margin

This is a continuous margin check, i.e. the minimum amount of cash or collateral that must be maintained on your account to hold an open position. The maintenance margin is used to calculate the margin utilisation. A close-out of margin positions occurs as soon as you do not meet the maintenance margin requirement.

You will find the initial and maintenance margin of bond CFDs in the platform under Trading conditions.

Example:

The carrying cost is calculated based on the daily margin requirement and applied when a position is held overnight.

Carrying cost = margin requirement *days held* (relevant interbank rate + markup 1.5%) / (365 or 360 days)

The current contract and following contract are offered to enable you to manually transfer positions from one expiry to the next. You will find the specific expiry date and time for commodity CFDs in the trading platforms on the contract trading ticket.

Trading will cease at the specified time listed in the Contracts Specifications table for each contract. You should pay attention to when the Last Trade Day will take place as it differs from contract to contract and month to month. Any positions still open on the Expiry Date will be automatically closed at the closing price set by Cornèrtrader and cash-settled.

Initial margin

This is a pre-trade margin check on order placement, i.e. when you open a new position, there must be sufficient collateral on your account to meet the initial margin requirement.

Maintenance margin

This is a continuous margin check, i.e. the minimum amount of cash or collateral that must be maintained on your account to hold an open position. The maintenance margin is used to calculate the margin utilisation. A close-out of margin positions occurs as soon as you do not meet the maintenance margin requirement.

You will find the initial and maintenance margin of commodity CFDs in the platform under Trading conditions.

Example:

In order to receive live streaming quotes on exchange listed products with Cornèrtrader, you are required to subscribe to the relevant stock exchange data. However, as a client of ours, you have access to delayed market data on listed securities on which you can trade.

An online subscription tool is available on the trading platform. There you will find the list of futures & options available and news services, with the applicable monthly fees. You can subscribe and unsubscribe to the services of your choice.

Monthly subscription fees are charged for the data you elect to receive in real-time. The exchange subscription agreements can only be submitted via the subscription tool on the platform.

When you subscribe to live prices from a derivative exchange, if the exchange offers both futures contracts and options contracts, live prices on both are included in the same subscription.

Subscriptions levels

Some of the stock and future exchanges might offer Level 1 only or also the Level 2 market data. With the Level 1 subscription, you receive the first level of the order book on the exchange: you can see real-time, bid/ask quotes and their sizes/volumes. With the Level 2 subscription, you can see not only the top of the book, but also the market depth of bid/ask prices and the size available at each price point.

Example of Market Depth:

Subscription costs

As soon as you subscribe to your chosen service, your account will be debited for the cost of subscription for a full calendar month, whatever date you subscribe.

Corporate clients are classed by exchanges as professional investors. Accordingly, barring terms to the contrary in the subscriber agreement, corporate clients are charged the professional end-user fees.

If you keep a CFD position on single stocks and/or stock indices overnight (after 5.00 p.m. EST, New York Time), financing costs on long and short positions apply. The finance of the traded value consists of a credit/debit charge. The calculation is daily but charged on a monthly basis.

The cost of financing is composed of two elements:

• bid/offer financing rate*
• commercial product markup/markdown

*The bid/offer financing rate refers to the financing price in individual currencies. Our broker uses publicly accessible and internationally recognised Alternative Reference Rates (ARR) as the basis for constructing the funding rates. For currencies without a designated ARR, money market rate, monetary policy rate or other relevant financial benchmark apply as an input. The bid/offer financing rates have a floor of 0% and therefore cannot be negative. The interest is calculated daily and charged monthly at the end of each calendar month.

The CFD financing for holding overnight positions is applied as follows:

• Long CFD positions are subject to a charge:
  CFD finance cost = (Open Position Amount × Price × (Offer financing rate + Markup%) × Number of days / 360 or 365.
• Short CFD positions creates a financing credit (when the rate is higher than the markdown):
  CFD finance credit = (Open Position Amount × Price × (Bid financing rate - Markdown%) × Number of days / 360 or 365

The CFD financing charges do not apply to positions opened and closed before the end of the trading day (provided that the exchange on which the underlying is traded is opened) and on the “expiring CFDs” (e.g. with underlying commodity, interest rates, Forex and some Stock Index CFDs).

Details on the markup/down applied to your CFDs positions are visible in the trading conditions of each CFD product. The historical CFD financing costs can be accessed under "Historic Reports > CFD Finance Details" on the platform.

Generally, all short positions in Single Stock CFDs held overnight are subject to the cost of borrowing the underlying shares. The fee varies according to the instrument, market conditions and the availability of shares to be borrowed in the market. Instruments that are in high demand for short selling can experience an increase in the borrowing cost.

The borrowing cost is fixed and will be charged every month. However, due to the execution of certain corporate action events, the borrowing cost on the short position can be reset to the current rate in the market.

The estimated borrowing cost on a Single Stock CFD can be found on the platform under the Trading Conditions, as well as in the Trade Ticket. The “Details” section of the trade ticket shows the estimated borrowing cost per day.

In order to receive real-time streaming quotes on exchange listed products with Cornèrtrader, you are required to subscribe to the relevant stock exchange data. However, as a client of ours, you have access to delayed market data on listed securities.

An online subscription tool is available on the trading platform. There you will find the list of available exchanges and news services alongside the applicable monthly fees. You can subscribe and unsubscribe to services of your choice.

Monthly subscription fees are charged for the data you elect to receive in real-time. The exchange subscription agreements can only be submitted via the subscription tool on the platform.

When you subscribe to live prices from a stock exchange, both the company shares, the ETFs, ETPs, ETNs, ETCs and single stock CFDs listed on that stock exchange are included in the same subscription.

Subscriptions levels

Some of the stock and future exchanges might offer Level 1 only or also the Level 2 market data. With the Level 1 subscription, you receive the first level of the order book on the exchange: you can see live, streaming, bid/ask quotes and their sizes/volumes. With the Level 2 subscription, you can see not only the top of the book, but also the market depth of bid/ask prices and the size available at each price point.

Example of market depth:

Subscription cost

As soon as you subscribe to your chosen service, your account will be debited for the cost of subscription for a full calendar month, whatever date you subscribe.

When subscribing to the service, it is important to enter your personal and professional data correctly. Any errors, use of pseudonyms or incomplete information can lead to the subsequent and automatic cancellation of the request or of the subscription if already active, even if only for a few days.

Exchanges require users to renew their personal information every six months. Before this deadline, the platform will send a notification to remind you to reactivate subscriptions which are expiring.

Corporate clients are classed by exchanges as professional investors. Accordingly, corporate clients are charged the professional user costs.

If you keep a CFD position on single stocks and/or stock indices overnight (after 5.00 p.m. EST, New York Time), financing costs on long and short positions apply. The finance of the traded value consists of a credit/debit charge. The calculation is daily but charged on a monthly basis.

The cost of financing is composed of two elements:

• bid/offer financing rate*
• commercial product markup/markdown

*The bid/offer financing rate refers to the financing price in individual currencies. Our broker uses publicly accessible and internationally recognised Alternative Reference Rates (ARR) as the basis for constructing the funding rates. For currencies without a designated ARR, money market rate, monetary policy rate or other relevant financial benchmark apply as an input. The bid/offer financing rates have a floor of 0% and therefore cannot be negative. The interest is calculated daily and charged monthly at the end of each calendar month.

The CFD financing for holding overnight positions is applied as follows:

• Long CFD positions are subject to a charge:
  CFD finance cost = (Open Position Amount × Price × (Offer financing rate + Markup%) × Number of days / 360 or 365.
• Short CFD positions creates a financing credit (when the rate is higher than the markdown):
  CFD finance credit = (Open Position Amount × Price × (Bid financing rate - Markdown%) × Number of days / 360 or 365

The CFD financing charges do not apply to positions opened and closed before the end of the trading day (provided that the exchange on which the underlying is traded is opened) and on the “expiring CFDs” (e.g. with underlying commodity, interest rates, Forex and some Stock Index CFDs).

Details on the markup/down applied to your CFDs positions are visible in the trading conditions of each CFD product. The historical CFD financing costs can be accessed under "Historic Reports > CFD Finance Details" on the platform.

*In the examples, the prices shown are the most aggressive and take into consideration high volumes and high frequency of trading. These can be only offered to clients matching the criteria. When defining the pricing in the PRO/VIP segment, Cornèrtrader takes into consideration several aspects including the trading needs of the client, the exchange, the products and the frequency and/or volumes traded, to determine the best spreads and fees Cornèrtrader can offer for a specific profile.

Forex, equities, CFDs on equities, futures, bonds and mutual funds are subject to a minimum transaction fee, depending on the product and/or the exchange. There is no minimum fee for micro-futures, futures options or stock options.

All the In-the-Money Options automatically settle in the pre-defined method (spot or cash), and the Option is removed at 10 a.m. EST (New York CUT) on the expiry date.

A European style Option does not require a holder to wait until expiry. An Option position can always be closed before expiry.

There are two possibilities:

• Spot settlement: The ITM Option is converted into a Spot position on expiry.
• Cash settlement: The cash settled exercise method is available on both long and short positions. It is always executed at the mid-price of the best bid/offer spread.

The carrying cost is calculated based on the daily margin requirement and applied when a position is held overnight.

Carrying cost = margin requirement *days held* (relevant interbank rate + markup 1.5%) / (365 or 360 days)

However, as our client you have access to delayed market data on listed securities on which you can trade.

An online subscription tool is available on the trading platform. There you will find the list of available exchanges and news services along with the applicable monthly fees. You can subscribe and unsubscribe to services of your choice.

Monthly subscription fees are charged for the data you elect to receive in real time. Exchange subscription agreements can only be submitted via the subscription tool on the platform.

Subscription fees

As soon as you subscribe to your chosen service, your account will be debited with the subscription for a full calendar month, whatever date you subscribe.

Corporate clients are classed by exchanges as professional investors. Accordingly, unless the terms of the subscriber agreement stipulate otherwise, corporate clients are charged the professional end-user fees.