Instruments and markets
Indices
Instruments tracking a basket of shares - the Dow, the S&P 500, the Nasdaq 100 and their international equivalents. Traded as contracts for difference, they give index exposure without owning any share.
Also called: Stock indices · Index CFDs
GFN’s figure
Indices may be traded on GFN accounts where available on the platform, at leverage of up to 1:50 that varies by instrument, with trading hours set by the underlying market.
In detail
Indices,explained
Index instruments follow the trading hours and the economic calendar of their home market, so the volatility clusters around a cash open rather than being spread through the day.
Point values differ sharply between indices, which is why a position size that suits one is frequently wrong for another even at the same notional exposure.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
US30
The common symbol for an instrument tracking the Dow Jones Industrial Average, a price-weighted index of 30 large US companies. It is quoted in index points, each worth a fixed amount per contract.
NAS100
The common symbol for an instrument tracking the Nasdaq 100, an index of the largest non-financial companies listed on the Nasdaq. It is the most volatile of the major US index instruments.
SPX500
The common symbol for an instrument tracking the S&P 500, a market-cap weighted index of 500 large US companies. It is the standard benchmark for the US equity market.
Contract for difference
An agreement to exchange the difference in an instrument's price between opening and closing a position. It gives exposure to the move without ownership of the underlying asset.
Tick value
What one minimum price increment is worth per contract. It is the futures and index equivalent of pip value, and it converts a stop distance directly into a dollar figure.
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