PRODUCT SPECIFICATION

PRODUCT	CONTRACT SIZE	LEVERAGE 1:200
PRODUCT	CONTRACT SIZE	SPREAD START FROM / PIPETTE	MAX SPREAD /PIPETTE	MARGIN REQUIREMENT (0.1 Lot)
NASDAQ (US100)	$20	170	350	$100
S&P 500 (US500)	$20	100	200	$100
DOW JONES (US30)	$10	10	22	$100

PRODUCT	CONTRACT SIZE	LEVERAGE 1:500
PRODUCT	CONTRACT SIZE	SPREAD START FROM / PIPETTE	MAX SPREAD /PIPETTE	MARGIN REQUIREMENT (0.01 Lot)
NASDAQ (US100)	$20	170	350	$10
S&P 500 (US500)	$20	100	200	$10
DOW JONES (US30)	$10	10	22	$10

Product	Day Trading	Quotes	Trade
NASDAQ (US100)	MONDAY-FRIDAY	00:05-21:55	00:05-21:55
S&P 500 (US500)	MONDAY-FRIDAY	00:05-21:55	00:05-21:55
DOW JONES (US30)	MONDAY-FRIDAY	00:05-21:55	00:05-21:55

TIME ZONE GMT +2

What is the Reference Price?

The Reference Price refers to the automatic extension of contract periods when there are open positions in specific products such as Crude Oil (CLS10), Asian Indices (NK & HK), and US Indices (NQ, DJ & SP) without liquidating those positions.

During this process, the reference is not calculated as profit or loss. Instead, equity adjustments are made by calculating the difference between the closing price of the old contract and the closing price of the new contract. This ensures that the equity value remains consistent after the expiration of the old contract.

Adjustments During the Reference Price:

For an open Buy position, a financial adjustment will be made equivalent to the P/L (Profit or Loss) between the closing price of the old contract’s Sell position and the closing price of the new contract’s Buy position.
For an open Sell position, a financial adjustment will be made equivalent to the P/L (Profit or Loss) between the closing price of the old contract’s Buy position and the closing price of the new contract’s Sell position.

Index US
The US Index products, including Dow Jones (DJ), Nasdaq (NQ), and S&P 500 (SP), implement a Reference Price once every three months.

The US Index Reference Price is executed after 04:00 (SUMMER) or Winter +1 hour on the second business day before the third Friday of the contract month (March, June, September, and December). If that day is not a business day, the previous business day will be used instead.

Below are the details of the Reference Price implementation and an example calculation for the US Index products:

Implementation of the US Index Reference Price
For example, in the September 2024 contract month, the third week falls between September 10–16, 2024. Two business days before Friday in that week is Wednesday, September 13, 2024. Therefore, the Reference Price for the US Index in the September 2024 contract month will take place on September 13, 2024.

Illustration of the Dow Jones Reference Price Calculation

Example of Dow Jones Reference Calculation
Assume the closing price for the old Dow Jones contract is 33,864, and for the new Dow Jones contract is 33,890.

For a Buy Position of 0.01 lot Dow Jones at 33,855

Before Adjustment

Previous Balance: $1,000
Closed Trade P/L: $0.00
Deposit: $0.00
Balance: $1,000
Floating P/L: (+)$0.45 (using the old Dow Jones contract price of 33,864)
Equity: $1,000.45 (Balance plus Floating P/L)

After Adjustment

Previous Balance: $1,000
Closed Trade P/L: $0.00
Deposit: (-)$1.30 (Adjustment value from the old contract to the new contract)
Balance: $998.70
Floating P/L: (+)$1.75 (using the new Dow Jones contract price of 33,890)
Equity: $1,000.45 (Balance plus Floating P/L)

From the above, we can see that the Equity remains the same before and after the adjustment, at $1,000.45.

For a Sell Position of 0.01 lot Dow Jones at 33,855

Before Adjustment

Previous Balance: $1,000
Closed Trade P/L: $0.00
Deposit: $0.00
Balance: $1,000
Floating P/L: (-)$0.45 (using the old Dow Jones contract price of 33,864)
Equity: $999.55 (Balance plus Floating P/L)

After Adjustment

Previous Balance: $1,000
Closed Trade P/L: $0.00
Deposit: (-)$1.30 (Adjustment value from the old contract to the new contract)
Balance: $1,001.30
Floating P/L: (-)$1.75 (using the new Dow Jones contract price of 33,890)
Equity: $999.55 (Balance plus Floating P/L)

From the above, we can see that the Equity remains the same before and after the adjustment, at $999.55.

Illustration of the Nasdaq Reference Price Calculation

Example of Nasdaq Reference Calculation
Assume the closing price for the old Nasdaq contract is 14,853.50, and for the new Nasdaq contract is 14,975.25.

For a Buy Position of 0.01 lot Nasdaq at 14,825.25

Before Adjustment

Previous Balance: $1,000
Closed Trade P/L: $0.00
Deposit: $0.00
Balance: $1,000
Floating P/L: (+)$5.65 (using the old Nasdaq contract price of 14,853.50)
Equity: $1,005.65 (Balance plus Floating P/L)

After Adjustment

Previous Balance: $1,000
Closed Trade P/L: $0.00
Deposit: (-)$24.35 (Adjustment value from the old contract to the new contract)
Balance: $975.65
Floating P/L: (+)$30.00 (using the new Nasdaq contract price of 14,975.25)
Equity: $1,005.65 (Balance plus Floating P/L)

From the above, we can see that the Equity remains the same before and after the adjustment, at $1,005.65.

For a Sell Position of 0.01 lot Nasdaq at 14,825.25

Before Adjustment

Previous Balance: $1,000
Closed Trade P/L: $0.00
Deposit: $0.00
Balance: $1,000
Floating P/L: (-)$5.65 (using the old Nasdaq contract price of 14,853.50)
Equity: $994.35 (Balance plus Floating P/L)

After Adjustment

Previous Balance: $1,000
Closed Trade P/L: $0.00
Deposit: (+)$24.35 (Adjustment value from the old contract to the new contract)
Balance: $1,024.35
Floating P/L: (-)$30.00 (using the new Nasdaq contract price of 14,975.25)
Equity: $994.35 (Balance plus Floating P/L)

From the above, we can see that the Equity remains the same before and after the adjustment, at $994.35.

Illustration of the S&P500 Reference Price Calculation

Example of S&P500 Reference Calculation
Assume the closing price for the old S&P500 contract is 4,327.50, and for the new S&P500 contract is 4,334.50.

For a Buy Position of 0.01 lot S&P500 at 4,323.50

Before Adjustment