MF Global

At MF Global we offer CFDs over global Share, Index, Commodity and Currency (FX) markets.

Commission

Our Share CFDs are Direct Market Access (DMA) CFDs and as there is no additional spread beyond the market bid/offer price, we charge a small commission. Commission is charged on each side of a Share CFD transaction (bought/sold) entered into with MF Global and is calculated as a percentage of the trade value of the total number of Share CFDs. Specific costs for each market can be found in the table below.

Index, Commodity and FX CFDs are Over-the-Counter (OTC) CFDs and the spread quoted includes the MFGA Spread which is a spread between the exchange / spot rate MF Global receives in respect of its Hedge Position and the Contract Rate it quotes in respect of a Currency Pair / commodity. The price quoted for Rolling CFDs will also be adjusted to account for Fair Value.

Position Funding

Position Funding is calculated for Share CFDs at a spread over or under the MF Global Base Rate (MBR) for long and short positions, respectively. The MF Global Base Rate tracks, but may not necessarily mirror, the underlying country’s cash rate.

Funding is payable or earned when FX CFD positions are held past Business Close (5pm New York on a Business Day). If you are the Long Party and you hold an open position in an FX CFD past Business Close, you will generally receive a funding amount if the Reference Currency Interest Rate exceeds the Settlement Currency Interest Rate, or generally pay a funding amount to MF Global if the Settlement Currency Interest Rate exceeds the Reference Currency Interest Rate.

If you are the Short Party and you hold an open position in an FX CFD past Business Close, you will generally receive a funding amount if the Settlement Currency Interest Rate exceeds the Reference Currency Interest Rate, or generally pay a funding amount if the Reference Currency Interest Rate exceeds the Settlement Currency Interest Rate.

The funding amount is usually calculated daily in the Settlement Currency of the Currency Pair and debited or credited to your CFD account on the following Sydney Business Day.  Please refer to the FX PDS for further information.

No Funding is charged or received when holding an overnight position in an Expiring CFD contract.

For Rolling CFDs funding rates do apply when open CFD positions are held past Business Close. This is calculated at a spread over or under the MF Global Base Rate (MBR) for long and short positions, respectively.

Equity Interest

Equity Interest is received or paid on a proportion of client’s funds in credit or debit, held within client CFD trading accounts at a spread from the MBR^†.

Platform and Market Data Costs

When trading DMA Share CFDs you are dealing using real exchange prices. Market data charges and licensing fees are charged based on volume related discounts. A table describing the rebates available to all clients can be found here.

There are 3 major DMA Share CFDs offered for MF Global CFD clients - Standard, Frequent Trader Club and MF Global premium CFDs.

1. MF Global standard CFD commission & position funding rates

2. MF Global frequent traders club (FTC)

Frequent traders who trade a minimum monthly contract turnover value in excess of AUD equivalent 1,000,000 qualify to receive an online commission rate of 0.10% for Australian and most International equity markets.

3. MF Global premium CFDs

MF Global premium CFDs is designed for clients who maintain a CFD trading account balance^ in excess of AUD equivalent 100,000. MF Global premium CFD clients receive an online commission rate of 0.08% for Australian and most International equity markets. Exchange market data and software fees are waived and clients receive many other valuable services. For more information or to open an MF Global premium CFD trading account please visit premium CFDS or call the CFD Desk on 1800 626 099.

^ Trading account balance of AUD equivalent 100,000 relates to the Total Equity (Gross Liquidation Value or GLV). This is the CFD trading account balance if you were to close all CFD positions at the current market price (less any transaction charges or adjustments).

# Includes stamp duty and other market charges.

^†MF Global Base Rate (MBR) relates to the quoted market base rate and is subject to change. The MBR tracks, but does not necessarily mirror, the Reserve Bank of Australia Interbank Overnight Cash Rate (RBAIOCR).