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LukeM

IG Staff
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Everything posted by LukeM

  1. Hi all, Just a quick reminder of the changes to our trading schedule early next week for Memorial Day in the US and the Spring Bank Holiday in the UK (Monday 30th May): Monday 30th May UK equities, UK index futures, interest rate and commodity markets (except Brent Crude) will be closed. We will be making an out-of-hours price on the FTSE 100 until 21.00. US index futures close early at 18.00. We will be making an out-of-hours price on Wall Street, US 500 and US Tech 100 until 21.00. Our out-of-hours index markets will close between 21.00 and 23.00. US equities and soft commodities are closed. The VIX closes early at 16.30. US energies, interest rates and metals close early at 18.00. Brent Crude closes early at 18.30. There will be no after-hours session (10.00-16.45) on Hong Kong HS50 and China H-Shares futures, but we will quote them out-of-hours Daily futures bets on the FTSE 100, US indices and crude oil will be for settlement on Tuesday. Tuesday 31st May US grain futures open at 01.00, lumber opens at 15.00, livestock opens at 14.30. Hope you all have a lovely long weekend! Cheers, Luke
  2. Well done  for guessing closest to 160k! Badge is coming your way. For once the ADP payrolls number was a great indicator for the headline figure, with a drastic fall in the NFP number also accompanied by a downward revision to the March number. The key here is that todays numbers largely write off the chance of a June rate hike, with the market probability of a hike now standing at just 4%. Recent dollar strength has seemingly been underpinned by the fact that a June hike is still within reach and thus today's figure will test out whether the dollar can continue to gain despite a minimal chance of a June rate rise. Til next month! Luke
  3. Hi all Welcome to April's Non-farm Payrolls thread, where we invite you to guess the release figures for NFP. If you guess closest, you can land yourself the coveted NFP Champion badge for the month! Today’s numbers are expected to see US jobs increase by 200K, while the unemployment rate is forecast to drop back to 4.9%. Most industries continue to add workers at a decent rate, and a good number today could arguably put more pressure on the FOMC to move at its June meeting. Should we have a stronger number, plus (ideally) an improvement in the earnings figures released at the same time, then the strength in the greenback that we saw earlier in the week could get another boost. So post your guesses below and good luck! Luke P.S. Thanks to  for his post this morning on the data to consider in the release, and how traders can perceive it.
  4. Hi , I'm a bit confused what you mean by 'scaling out'? Are you referring to orders that cancel one another if one it triggered? This is known as OCO or 'one-cancels-other' and isn't something that we currently offer. However we've had clients feed this back to us before and it is in the pipeline to be built, I don't have an ETA at the moment for you but we'll let you know when you'll be able to place them! Edit: Apologies , just realised what you were referring to with 'scaling out'. We don't offer this at the moment, nor is it on our current roadmap. I'll pass your feedback onto the IG development team however, as it may something for future consideration. Thanks, Luke
  5. , I'm glad to hear it! I would have been very suprised that we'd change the rules away from being completely transparent and verifiable! That would definitely be a step in the wrong direction! Your reaction was completely understandable so no need to apologise, I'm just glad I was able to explain the changes in a slightly simpler way than the email that was sent out and clear things up for you. Another victory for the Community and getting things sorted! Cheers Zero take care!
  6. Hi , I hope you’re well. I’ll be happy to clarify as I don’t think the email sent around was particularly well detailed. To re-assure you, we are not changing our pricing methods at all and we are still using the same independent settlement feed from the same stock exchanges as before, i.e. LSE, Eurex etc... As a result we can still verify correct/incorrect settlement prices using Bloomberg. Previously some intraday binary settlements had to be manually input to the system by one of our Binary dealers after the binary itself had expired and settled. Which, as I’m sure you can appreciate breeds its own inefficiencies and potential for human error. What we’re planning to do is remove any dealer intervention in the settlement process and take whatever price is in the system at the expiry time. This new method should suffer from far fewer errors than the previous method. There is only a slight change to the definition of which price is used to settle a binary, instead of using the tick on or after the stated expiry time, we will be using the tick our system has, as that is something that a computer can define and source reliably from the underlying exchanges simply and transparently. So it might be easier to discuss with an example, let’s say you had bought a binary that says ‘Market XYZ to be above 100 @ 12:00:00’. Under the previous ruling, if the price at 11:59:59 was 101 but then there were no trades until 12:00:05 where the price became 98, by the above definition of ‘the price AT or AFTER the stated expiry time’, as there was no trade bang on 12:00:00 our reference would be to the 98 print at 12:00:05 (providing that was the first trade post-expiry). Therefore in this example it would have caused the binary to settle as a loss. By the new definition, using the same example above, as 12:00:00 occurs, technically the ‘current’ price in our system of market XYZ was 101 as this is the price that is in our as at the binary expiry occurs. So the binary under our new treatment would settle as a win. Under both rulings, the pricing and settlement is completely independent and we can’t influence it, and we can also use Bloomberg to reference what this price was. It’s just allowing us to move into an automated system and away from dealer intervention. I can completely understand your concerns that it looks like we’re going to try and manipulate our pricing or settlement however I hope the above explanation somewhat calms your nerves. As always Zero, please let me know your thoughts as I can feed them back to the Binaries team directly! Cheers, Luke
  7. Hi ! You are able to see the different liquidity depths and trade DMA on your phone, but currently it's only available on iPhone at the moment. You'll be able to see up to 5 lines of depth of the shares you're looking at. I agree it would be great to have L2 on mobile too, but I don't think it will be worked on given the current development plans. I'll pass on the feedback though!
  8. Hi , At the moment we don't have OCO (one-cancels-other) orders on the platform but we are planning to include them in future releases of our trading platform. Sorry we don't offer them currently but we should have them available on the platform soon!
  9. Apologies for my ignorance , I’ve just had a chat with one of my colleagues from our South African office who’s filled me in on the Quarterly Close Out and how it works! Similar to the auction at the start or the end of the trading day, at 12:00pm on the third Thursday of each quarter (i.e. earlier Today), all JSE stocks will trip into an auction in order to determine the close out price. Like an auction at the beginning or end of the day volume will increase during the 15 minute process and prices may seem skewed however your stop won’t be filled basis any prices during this time. The result of these auctions, otherwise known as the ‘uncrossing’ price, then feeds into the SA40 calculation to give the final settlement for the quarterly futures. For more information you can see the JSE’s website here: https://www.jse.co.za/trade/derivative-market/equity-derivatives
  10. Which specific market are you referring to? When you mention the JSE, are you looking at Shares themselves or Options or maybe even Futures? Let me know and I'll try and help asap.
  11.  Just a little thought to give you a helping hand... once you start posting some of your analysis up here, what we'll do is feature the board on the Community's home page so that everyone can see it and contribute with you. Hope this helps get the board up and running!
  12. Morning , I think this is a great idea! It's definitely something we'll support, thats exactly what this Community has been built for!
  13. Hi , thanks for joining us on the Community! Having a setting that will permanently force open any trade that you do is coming! We've taken so much feedback asking for such a setting that our developers have begun working on the back-end so that it will be a feature on future releases of our platform. Unfortunately I don't have an ETA at the moment, but it is definately on it's way. Hope this helps!
  14. Hi , welcome to the Community! I've passed your feedback onto our Dealing Desk who'll take a look into it and see if the spread markets you mentioned will be something we'll be able to offer in the future. For the time being, you can create a synthetic spread/ratio market by simply selling one of the markets and buying the other. For example, if you thought the spread between Gold and Silver is going to increase, you could sell Gold and buy Silver. Or if you thought that the spread would tighten, you could buy Gold and sell silver. With the Gold and Silver example, obviously Gold is more valuable than Silver. However as we quote both as a four-digit number, Silver 'appears' as a higher number which is why the spread trade is sell and buy as above. I hope this helps!
  15. Hi  and , welcome both to our Community! Not just trailling stops on orders to open, but trailing stops in general have always been something we've been looking at improving on our platform. I've just spoken with one of our platform developers and they've informed me that this is definately something that's currently in the pipeline to be developed. So whilst i can't really give an ETA, it is on the roadmap. Hope this helps!
  16. Hey , I’m glad to hear that we’ve been able to help you out this time and it’s always good to hear great feedback on the Community. We’ll try our best to keep up the good work! Cheers!
  17. Hi , I've had a chat with our Binaries team and unfortunately we're not going to be able to offer the USD/CNH pair on our Sprint market platform. We looked into it and the underlying market itself has just got too wide a bid/offer spread (normally circa 15pts) for us to offer an economically viable sprint market on this. Perhaps if we see this spread narrow (given that it is pretty poignant at the moment!) we can take another look into getting it setup for you. I'll keep an eye on it and let you know!
  18. Hey , I've moved your post here, as I feel it’s a bit more appropriate to this board and not relevant to the trade of the month competition. I appreciate your frustration with the situation that happened on your account recently, and understand that you’ve already discussed this with several of our staff directly. If our Trading Services department haven’t been able to provide a satisfactory resolution to you then we do have a formal process that you can choose to pursue in order to escalate the issue further. Full details of this can be found at the following link: https://www.ig.com/au/complaints Let me know if there is anything I can do to help. Cheers, Luke
  19. FED raises rates by 0.25% to 0.5% see the full statement here: http://www.federalreserve.gov/monetarypolicy/files/monetary20151216a1.pdf
  20. Hi , I thought I'd let everyone know that the IG TV team is going to be broadcasting live from 6.55pm this evening to follow the FED announcment and track how the markets react.  will be joining Sara in providing insight from our TV studio as the data is released; then one of our Premium Client Managers will be interviewed directly from the dealing floor to explain where our clients are placing their money and where the deals are flowing. You'll be able to watch it on the following site: http://www.ig.com/uk/live-video If you have any questions throughout the evening, let me know on here. I'll try and post the announcment as soon as it happens at 7pm.
  21. Hi , there was an issue with the Stockholm Exchange on Friday afternoon so we had the sprints switched off - but looks like they're all good now so we've just put them back online for you!
  22. Hi FiringSquad, I think thats a great idea and I've passed it on to one of our platform developers for their consideration. Please let us know if you feel we can build anything else that would help you out!
  23.   Hi guys. You do make a great point, unfortunately our platform was designed a number of years ago and as the margins have advanced the deal ticket has been difficult to update. We're currently working to make improvements to the platform and hopefully in the near future you'll be able to see exactly how much margin would be required for a trade even if the trade size puts you into tiers. Enjoy your weekend!
  24. Nonfarm Payrolls Aug: 173K (est 217K; rev prev 245K)
  25. Hi , That makes alot of sense, I'm suprised that we don't have that as a default setting yet to be honest! I've spoken with one of the iOS app developers and they agree with us, so it will most likely be introducted in the future. Not sure of a timeline, but it’s on their radar now. Thanks for the good feedback!
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