Size for CFDs means number of shares. Closing price refers to the underlying market price when the market closes.
If your trade is in SGD:
Size × closing price × (3% +/- 1 month SORA) ÷ 365
Example: Long 1000 shares of Keppel Corp Ltd worth 8.88, with SORA at 0.68%: 1000 x 8.88 x (3% + 0.68%) ÷ 365 = SGD0.89 per day
Example: Short 1000 shares of Keppel Corp Ltd worth 8.88, with SORA at 0.68%: 1000 x 8.88 x (3% - 0.68%) ÷ 365 = SGD0.56 per day, plus a borrowing charge of: 1000 x 8.88 x 0.5% ÷ 365 = SGD0.12 per day
The borrowing charge will depend on which share you trade — contact IG to enquire further.
If underlying instrument currency is SGD: Size × closing price × (3% +/- ) ÷ 360 (based on one-month SORA)
If underlying instrument currency is USD: Size × closing price × (3% +/– SOFR) ÷ 360
The formula uses a 365-day divisor for UK and Singapore shares, and a 360-day divisor for shares in other markets.
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