Totality may provide access to expiring Index CFD trackers, such as the US2000 expiring Stock Index Tracker CFD. Expiring Index CFD trackers follow the expiry cycle of the underlying futures contract and are cash settled at expiry. Open positions may be automatically closed at the prevailing market price on the expiry date unless they are manually closed or rolled before expiry, where rollover is available.

Trading hours vary by Index CFD and by the underlying market. Some index CFDs may be available for extended trading hours, but availability can change by instrument, exchange session, market holiday and platform conditions. Check the trading platform for the current trading hours before placing an order.

Short selling may be available on selected Index CFDs, subject to product availability, market conditions and platform rules. Check the instrument’s trading conditions before opening a short position.

Available order types can include Market, Limit, Stop, Stop Limit, Trailing Stop, If Done and One Cancels the Other (OCO), depending on the instrument and platform. Sell stop triggers are generally based on bid prices and buy stop triggers are generally based on ask prices.

Italian Financial Transaction Tax may apply to relevant CFD transactions where the underlying asset is an equity security issued by an Italian company. The applicable tax depends on the notional value and relevant market rules. Check the trading platform and relevant disclosures before trading affected instruments.

Fractional trading may be available on selected CFD index trackers. Availability can vary by instrument and should be checked in the platform or instrument-specific trading conditions.

When an index constituent reaches its ex-dividend date, Totality may adjust the Index CFD to reflect the dividend impact. The weighted dividend effect may be credited to long positions and debited from short positions according to the index methodology and platform conditions.

Livestreaming prices for Stock CFDs may require a relevant exchange market data subscription. Non-professional clients may be eligible for a data-fee refund where the required trading activity is met. Confirm current eligibility,exchange rules and subscription terms before publication.

Available order types may include Market, Limit, Stop, Stop Limit, Trailing Stop, If Done and One Cancels the Other (OCO), depending on the instrument, market and platform. Order availability should be checked before placing a trade.

To meet exchange, liquidity or internal execution requirements, Totality or anexecuting broker may convert a Market order into an aggressive Limit order.Clients should verify whether an order has been filled after submission.Market-order handling can vary by exchange and instrument.

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A Limit order sets a price boundary for buying or selling. A Buy Limit order will only execute at the specified price or lower. A Sell Limit order will only execute at the specified price or higher. Execution is not guaranteed if the market does not reach the limit price or if there is insufficient liquidity.

A Stop order is triggered when a specified price level is reached. Stop orders may be used to enter or exit a CFD position, but execution can depend on market liquidity, platform routing, primary market price feeds and manual processing in some cases. A stop order does not guarantee execution at the stop price.

Orders may be partially filled if there is not enough liquidity available at there levant price. Any unfilled portion may remain active according to the order type and duration. Market orders may be filled across multiple price levels,with the final execution price reflecting the volume-weighted average of individual fills.

Algorithmic order functionality may be available for selected Cash Stocks and Single Stock CFDs. These order types can be used to execute larger orders according to defined strategies and market conditions. Availability varies by market,instrument and request process. Confirm the supported markets and order types before publication.”

Algorithmic orders are supported in the below markets:

 Short selling Stock CFDs is subject to the rules of the underlying market and to borrow availability. A short CFD position may be closed or a short order may be cancelled if the underlying stock becomes difficult to borrow, is recalled, or becomes subject to market restrictions or corporate actions. Short-selling availability can change and should be checked before and during the life of a position.

Short Stock CFD positions held overnight may incur borrowing costs. This page should explain the condition that borrowing availability and recalls can affect short positions. For rates and cost treatment, link to CFD pricing.

Short-selling restrictions

On 28 January 2013, the Hellenic Capital Market Commission (HCMC) announced a temporary ban on short selling for shares of credit institutions listed on the Athens Exchange and included in the FTSE/AthEX-CSE Banking Index. This restriction was effective from 1 February through 30 April 2013, aiming to stabilise market conditions during a period of heightened financial uncertainty

Special events

 According to market signals received from brokers regarding the potential impact of Greece leaving the Euro, Totality advises clients with Greek CFD positions that such an event may create exceptional market conditions.

• In the event that Greece exits the Eurozone, Totality may take action to close all open Greek CFD positions at the prevailing price available on the platform.
• Any currency conversion from Euro to a new local currency will be processed using the conversion rates available to Totality at the time of execution.

Long single stock CFD trade

 If you anticipate a rise in a stock’s value, you can open a long position in a Single Stock CFD on Totality.

For instance, let’s say you expect Barclays Bank shares to climb from their current mid-price of £1.72. With £10,000 available for margin and 10:1 leverage, you only need to commit 10% of the total trade value—giving you exposure to a £100,000 position while using just a fraction of your capital.

 You decide to buy 50,000 CFDs at the offer price of £1.73 which gives you a position of (50,000*£1.73) £86,500 in notional value.

Each day you hold the long position open you pay financing cost on the notional opening value of the position.

The interest rate used is LIBOR+3% (0.27144%+3% = 3.27144%). 10 days later, the Barclays price has risen and you sell the 50,000 CFDs at £1.85.

The trade details are:

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Short single stock CFD trade

When anticipating a decline in the price of a stock, it is possible to take a short position in a Single Stock CFD.

For example, consider a scenario where the Barclays Bank share price is currently at £1.72 (mid-price). With £10,000 available for margin and a 10:1 leverage offered by Totality, only 10% of the trade’s value must be placed as margin.

A decision is made to sell 50,000 CFDs at an offer price of £1.71, resulting in a notional value of £85,500 (50,000 x £1.71). While the short position remains open, a financing cost is applied daily based on the notional opening value. The interest rate in this case is LIBID minus 2.5% (0.26561%-2.5% = -2.23439%), so a rate of 2.23439% is paid as overnight financing due to the negative value. After 10 days, with the Barclays price at £1.65, the 50,000 CFDs are sold.

The trade details are:

Some markets may apply local trading restrictions, short-selling rules, exchange controls or instrument-specific requirements. These rules can affect whether a CFD can be traded, sold short, rolled, adjusted or closed. Check the platform and relevant market notices before trading.

On Totality, any derivative contract linked to equity securities of Italian issuers will incur the Italian Financial Transaction Tax.

This levy applies across the board—regardless of where you’re based or where the trade is executed—so every buy and sell in Italian derivatives carries the new FTT.

 Italian single stock CFDs

 US depositary receipts commonly incur an annual administration fee per receipt, charged by the issuing depositary bank to cover operational costs. This fee is usually deducted from dividend payments, but if no dividends are paid or the fee isn't included with them, it is collected through separate fee-only events.  

 The dividend fee is set in the Deposit Agreement between the depositary bank and the company, following industry standards. This agreement is filed with the SEC and is publicly available.

 The fee for each depositary receipt is determined by the number of stocks held, not by the total dividend amount paid.

Totality will look to pass on these fees once the fee structure is applied.

Starting 22 May 2024, Totality applies the updated SEC Section 31 regulatory fee of USD 27.80 per million on sell-side transactions involving US exchange-listed CFDs (DMA) and stocks, where client orders are routed directly to the underlying market.

This fee is exclusive to US exchanges and reflects the revised rate announced by the SEC for covered sales

For more information please read press release published by the U. S. Securities and Exchange Commission.

When an ADR or GDR termination is confirmed, Totality will proactively notify affected clients ahead of the final trading date. This allows clients to take any necessary corrective action before the instrument is delisted or converted.

 For short positions involving ADRs or GDRs, Totality will proactively notify clients once termination of the instrument is confirmed—either on or before the final trading date. This ensures clients have the opportunity to take any necessary corrective action prior to delisting or conversion.

Additional CFDs will be allocated on the Ex-date according to the eligible holdings as of ex-date-1. These allocations will become available for trading after the value date, upon confirmation of receipt from the agent.

 For short CFD positions, the dividend-equivalent entitlement is automatically withdrawn from your account on the ex-dividend date.

For CFD positions on Totality, cash adjustments are allocated on the Ex-Date, based on the eligible holdings as of Ex-Date minus one. The actual value is settled on the Pay Date.

Cash adjustments on CFDs are recorded on the ex-date according to holdings from the previous day, reflecting market price changes, but payments are settled on the pay date.

For long CFD positions, the Return Adjustment is deducted from the Cash Adjustment to reflect the default withholding tax on underlying dividend payments in the relevant market.

For short CFD positions, the dividend-equivalent entitlement is automatically withdrawn from your account on the ex-dividend date.

Currency options are not available to clients. If a currency option is specified in relation to an event, payment will be executed according to the denominated currency of the security listing.

Deletion of open orders as a result of Corporate Action

Open orders are deleted for specific event types on the day before a corporate action’s Ex-Date.

The following details the rules of behaviour:

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 In the event of distributions or rights issues, any open orders for the specified instrument will be cancelled if the Corporate Action results in a market price adjustment exceeding 20%.

Certain issuers provide alternatives to cash dividends, such as dividend reinvestment plans (DRIPs) or scrip issues of shares.

 Clients with CFD positions receive a cash payment. Cash adjustments for CFD positions are recorded on the Ex-date to reflect the market price movement on that date, while the payment is settled on the Pay Date.

 For short positions, clients will assume liability according to counterparty instructions, and such liabilities will be communicated once confirmation is received from the counterparty. The corresponding liability will be recorded in client accounts upon receipt of details from the prime broker.

Clients with CFD positions do not have the option to participate. The following conditions outline when action will be taken on behalf of the CFD holder:

Delisted Security: If a security is delisted, necessary measures will be implemented to obtain any relevant proceeds.

Squeeze Out Offer: This occurs once the offeror has obtained the required level of acceptances. In the event of a squeeze out, client holdings will be acquired, and proceeds will be credited appropriately. Elections to participate will be submitted as soon as information regarding the squeeze out becomes available.

Holdings in the company undergoing liquidation will be eliminated. Any proceeds from the liquidation, if available, will be distributed upon receipt.
Liquidation proceeds are processed in three different forms:

• Removal of holdings deemed worthless: If an issuer announces liquidation, it may remove the holdings without providing any proceeds to holders. Payment is not guaranteed in the event of liquidation.

• Partial Removal of Holdings with Payment: The issuer may announce a partial removal of holdings, with proceeds to be calculated and determined either in formal meetings or by court order, if applicable.

• Full divestment with compensation: The issuer may declare the full removal of holdings, with proceeds to be calculated and determined either in relevant meetings or by court decision, as applicable.

In the case of mandatory mergers, clients with CFD positions receive cash, new CFDs, or a combination of both on the Ex-date in accordance with the corporate action terms. When an election option is available, clients do not have the ability to make their own selection regarding mergers; instead, the default term is selected on their behalf.

Mergers are paid according to the below, depending on the outcome of the event.

• Cash (distributed on Pay-Date)
• Stocks (distributed on Ex-Date with future value date)
• Mix of Cash & Stocks (distributed on Ex-date with future value date)

Clients with short positions will be held liable in accordance with counterparty instructions, with liability details communicated once received from the prime broker.

If a client’s short position is lodged to participate in a corporate event, the position will be transferred to a dummy security to prevent trading of the elected holdings.

The merger entitlement will be credited once confirmation is received from the event agent.

These are not offered to clients.

Tradeable Rights - Rights are allocated in accordance with the applicable ratio as of the Effective Date (Ex-Date). Upon commencement of trading, orders for the sale of these rights are automatically placed. Once executed, the proceeds from the sale of the rights are credited to the client’s account.
For short positions, entitled rights will be sourced from the market and booked to clients. Clients seeking to participate in the rights offer should consult their financial advisor.

 Non-Tradeable Rights – Non-tradeable dummy CFD rights are allocated on the ex date. These rights are booked based on the ratio and price of the underlying rights issue on the pay date, with the value date set as the payment date.

• If a rights issue offers shares at a discounted subscription price compared to the current market value of the underlying instrument, Totality will make a best-effort attempt to subscribe for additional entitlements on behalf of clients.
• If a rights issue sets a subscription price above the current market value of the underlying instrument, Totality will decline to subscribe for additional entitlements.
• If the subscription price matches the market value of the underlying tradable instrument, Totality will decline to participate in the offer.

Totality will perform the price comparison on the final day available to subscribe for the offer, as determined by the relevant broker’s deadline.

For short positions, clients will assume liability according to counterparty instructions, and such liabilities will be communicated once confirmation is received from the counterparty. The corresponding liability will be recorded in client accounts upon receipt of details from the prime broker.

*  For select Australian-listed corporate actions—including Non-Renounceable Rights Distributions, Subscription Offers, Entitlement Offers, Rapid Offers, and Retail Offers—Totality may be unable to participate. As a result, these offers will not be extended to clients on the platform.

For Share Purchase Plan (SPP) events, Totality may extend participation to underlying beneficial owner clients, provided they supply the required ownership details as requested by our platform.

Cash payment is allocated on Ex-date for value pay date for eligible position based on Ex-Date-1.

On the Effective Date (Ex-Date), rights are allocated and recorded based on the applicable entitlement ratio. Once the market opens, sale orders for these rights are automatically placed. After execution, the proceeds from the sale are distributed to eligible holders.

For short positions, any entitled rights must be sourced from the market, and the corresponding cost is debited from the client’s account.

Occasionally, special or infrequent corporate actions may arise that fall outside standard categories like dividends, mergers, or rights issues. When these events occur, Totality will aim to manage them in the best interest of clients, subject to time constraints and operational feasibility.

On the Ex-Date, additional CFDs will be allocated and credited as appropriate. For short positions, clients will be debited as applicable.

CFDs are allocated on the Ex-Date with value on the pay date and credited as applicable. For short positions, a corresponding debit will be applied.

On the Ex-Date, additional CFDs will be allocated and credited as appropriate. For short positions, clients will be debited as applicable.

On Totality’s Swedish market, redemption rights events are broadcast as informational corporate actions. These mandatory events allocate tradable rights to clients for the defined subscription period, which they can freely trade or retain.

Remaining holdings post trading period will be converted/redeemed for the resultant entitlement (subject to the applied market tax rate) announced in the event.

Clients holding CFD positions will not be given a choice to tender.
Totality will take the following action:

• For instruments that are delisted, Totality will submit acceptance on behalf of clients to participate in the offer. When a security is no longer trading, Totality will likewise lodge clients’ acceptance to join the offer. If the offer converts into a compulsory acquisition, Totality will tender the position for clients under the new terms.
• For clients carrying short positions, any obligations will follow the counterparty’s directives, and we’ll inform you as soon as those instructions are confirmed. Once we receive the liability details from our prime broker, the amount will be posted directly to your account.

When you trade commodity CFDs on Totality, there’s no upfront commission fee. Instead, all trading costs are incorporated into the bid/ask spread that’s built into each CFD’s quoted price

Commodity CFD quotes on Totality mirror the spread of the underlying futures contract, but are presented with a slightly broader bid/ask gap.

We calculate each commodity CFD’s spread by taking the market’s futures spread and tacking on a fixed markup

On Totality, commodity CFDs are quoted per individual unit but often require a minimum order quantity. We denominate these CFDs in much smaller lots than the equivalent futures contract—in the case of US Crude Oil, one CFD covers 25 barrels instead of the standard 1,000-barrel contract. Although each quote reflects a single unit (for example, one barrel), your trade must meet our platform’s specified minimum size.

If you reduce an open position below that threshold, any remaining units should be closed out through your Account Summary or by contacting our dealing desk.

Commodity CFDs allow clients to gain exposure to commodities without physical delivery, as all transactions are settled in cash.

Totality’s commodity CFDs follow the same monthly expiry schedule as their underlying futures, with all open positions cash settled on the futures’ official expiration date. We offer both the front-month (active) and back-month (next) contracts so clients can manually roll over if they wish.

Exact expiry dates and cut-off times are displayed on our platform under the Trade ticket, Order ticket, or Instrument Information page.

Trading halts precisely at the time noted in each contract’s Specifications. Because the Last Trading Day varies by contract and month, clients should monitor its timing closely. Any positions still open at the end of trading on Expiry Date will be automatically closed at Totality’s closing price and settled in cash. Where liquidity allows, we quote both the expiring contract and its successor to enable smooth position transfers.

Short selling of Commodity CFDs is fully supported with Totality.

Forex CFDs have a minimum trade size of 5,000 units, which is considerably smaller than the notional value of the underlying futures contracts. For example, one lot of the Euro/US Dollar Futures contract represents EUR 125,000. Additionally, the minimum trade size for the US Index is 100 units.

Short selling of Forex CFDs is fully supported with Totality.

Comparable to Futures Contracts, FX CFDs have a specified expiry date and are settled in cash upon expiration. Any open positions at the time of expiry will be automatically closed at the prevailing market price.

A position may be manually rolled from one expiry to another up until the expiry time. The specific expiry date and time for individual FX CFDs are available on the trading platforms under CFD Commodities Trading Conditions and Prices.

Bond CFDs are denominated in smaller lot sizes than the underlying Futures contract.

For example, one Bond Futures Contract imposes a EUR 10 tick value for each increment of the Futures price (0.01). As an alternative, you can choose to take your tick value down to EUR 1 with the Bond CFD for the same price increment (0.01).

50 CFDs is the minimum trade size for Bond CFDs

Bond CFDs on Totality mirror the expiry mechanics of futures contracts, settling in cash on their official expiration date. Any positions left open at expiration will be automatically closed out at the then-prevailing market price.

You can manually roll a position to a new expiry until the current one expires. Check the trading platforms under CFD on Futures Trading Conditions for each Bond CFD's expiry details.

Trading availability may be affected by exchange holidays, local market closures,public holidays and instrument-specific schedules. Check the platform for current trading availability before placing or managing orders.