The FRA40’s underlying instrument is the CAC40 index future. This is the benchmark stock market index of the Euronext Paris: i.e. Airbus, Alcatel-Lucent, AXA, BNP Paribas, L’Oreal, Orange, Vivendi, Societe Generale, Renault, Michelin, Solvay etc.
Margin Requirement's may differ depending on trader experience and account equity and can be viewed in the dealing rates and create order windows on the trading station or by clicking here.
Please click here for trading hours. Please note, however, that hours are subject to change based on Daylight Savings Time. Also, FXCM’s Index Products do not expire, but FXCM indices will not be open for trading during holidays in which the reference markets are closed.
The FRA40 has a target spread of 1.4 pip/point.
Max Contract Size
The maximum number of contracts per click (trade) for the FRA40 is 5,000.
Minimum Pip Cost (Value)
The FRA40 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 1.0 price movement on the FRA40 is 1 pip/point. FXCM’s pricing displays additional decimal places - ideal for scalpers in a fast-moving market.
Number of FXCM Contracts to Equal 1 Future
100 FXCM FRA40 Contracts are currently equivalent to one CAC 40 Future.
The FRA40 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. For further information regarding dividends click here.
With FXCM’s new Enhanced Execution, there is no minimum stop distance.