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DNB Trade®

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Futures Trading Conditions

These Futures Contracts are available for online trading through the DNB Trade platform. The schemes are quoted in local exchanges' time.

Futures contracts:

 

Futures FIFO netting from April 8th

DNB is moving to FIFO netting on futures positions. This means that futures trades must be closed in the order they were opened. Platform features which allow you to close trades in a different order will be removed:

  • Individual trades in a position cannot be closed directly.
  • You cannot place related stop and limit order to close specific trades.

Closing positions

To close or reduce a position, you can place a trade using either the Close button on the position or by placing a trade using the Trade Ticket.

Related orders

Stop loss and take profit orders cannot be related directly to individual trades. Independent stop and limit orders can be placed instead and managed separately to the position – if you manually close a position, you must also manually cancel any orders.

Changes to Allocation Summary

In connection with the futures position management changes in the beginning of April, the Allocation Summary will be changed:

  • For futures contracts, the Close Allocated Positions Ticket will be changed to allocate futures orders/trades which are not related to opening trades.
  • The Close Position buttons on the trade level in the Allocation Summary will be removed for all products.

Support for Stop and Stop Limit orders

Stop and Stop-Limit orders are subject to support by the exchange on which the contract is traded. The order types available are noted in the pop-up details for each contract.

When Stop orders and Stop-Limit orders are not supported by the exchange, DNB Trade offers the possibility to execute stop orders through synthetic stop orders where your order is triggered if the underlying is traded at least for one lot.

Partial fills

Partial fills may occur on Limit orders and the remaining amount stays in the market as a Limit order and may be filled within the order duration.

Market orders can be filled at numerous levels, the price paid will be the volume weighted average price of all the fills.

Expiry for Futures Contracts

With DNB Trade you avoid physical delivery of the underlying asset on expiry of a Futures Contract, which is not supported. Therefore, we advise you to take note of the expiry and first notice dates (FND) of any Futures Contracts in which you have positions and ensure they are closed before the appropriate day, as described below.

  • If the expiry day is prior to the first notice day (FND) the contract will be closed on the expiry day.
  • If the FND is the same or prior to the expiry day the contract will be closed the weekday prior to the FND.

If futures positions are not closed before the relevant date, then platform will close the position on your behalf at the first available opportunity (usually as soon as market opens) at the prevailing market rate. Any resulting costs, gains or losses will be passed on to you.

Special conditions for Euronext Paris Commodities (Matif)

For Milling Wheat, Corn, Rapeseed & Malting Barley DNB Bank must follow Exchange Rules with effect up to 5 days prior to expiry. As a consequence:

  • Short positions may be forced closed within five days from the expiry day with a cut-off time of 17:00 GMT+2 daily.
  • All open positions will be forced closed one day prior to expiry, where circumstances apply.

Italian Financial Transaction Tax for derivatives

The tax will be applied to all Italian Derivatives whose underlying assets are equity instruments issued by Italian companies

The Italian FTT for Derivatives applies irrespective of the location of the client or the jurisdiction of the transaction, so everyone trading Italian Derivatives will have to pay new Italian FTT for Buys and Sells.

Notional Value of the futures transaction (EUR) Tax (EUR)
0-2.5k 0.00375
2.5-5k 0.0075
5-10k 0.015
10-50k 0.075
50-100k 0.15
100-500k 0.75
500-1000k 1.5
Over 1000k 3

 

Risk warning

Futures are margin products. Margin trading allows investors to buy and sell assets that have a greater value than the capital in their account. Margin Trading carries a high level of risk to your capital with a possibility to lose more than your initial investment.
Please read complete information on financial products and risk associated on this page.