The end of the Bretton Woods system has triggered the need to determine the value of the US dollar against other major currencies. 1973, the Federal Reserve established the dollar index to track the geometric average weighted value of the dollar against a basket of currencies; These currencies include: euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc. The US dollar index was established using the currencies of major US trading countries. The currency weights that formally constitute the US dollar index are as follows:
Volatility index VIX- Volatility index is also called panic index. The greater the market fluctuation, the higher the VIX rises. Generally speaking, it is based on 20, above which the risk is closed and below which the risk is opened. As an important statistical term, volatility is generally used to measure the volatility of the underlying asset price or return on investment. VIX can effectively reflect the panic and risk aversion of American stock market, and become an excellent market sentiment tracking indicator and risk hedging tool. This tool can make money by hedging without knowing the ups and downs of the market.
European and American financial markets have developed a very mature volatility index, which provides quantitative hedge investors with an investment means to realize market hedging only by judging the volatility of the stock market. In particular, it is worth noting that under the background that the overall fluctuation of US stocks is like warm water and the upward momentum is weakened, some well-known financial investment institutions may choose to make a multi-US stock volatility index on a large scale, expecting the possible large fluctuations after the long-term calm of the market.
The main foreign exchange markets in the world are new york, London and Tokyo, followed by Sydney, Zurich, Frankfurt, Paris, Tokyo, Hong Kong and Singapore:
Major currency pairs: Euro/USD, USD/JPY, GBP/USD, USD/CHF.
Commodity currency pair: AUD/USD, USD/CAD, NZD/USD.
Foreign currencies include South African rand (ZAR), Mexican peso (MXN), Hong Kong dollar (HKD), Nordic currencies (Swedish krona SEK, Norwegian krona, Danish krona DKK) and a series of emerging market currencies, such as Turkish lira (TRY), Indian Rupee (INR) and Indonesian rupee (IDR). In addition, Russian ruble (RUB) and Argentine peso (ARS) can also be included in the scope of foreign currency.
In a cargo pair, the base cargo is on the left and the corresponding currency is on the right, which is also called the quotation currency. For example, the euro USD EUR is the basic currency, but the US dollar has a high international status and usually appears as the benchmark currency. Currency pairs with dollars are called straight, and currency pairs without dollars are called cross.
The standard quotation of international exchange rate generally consists of five digits. At present, there are many platforms that provide six-digit accurate quotations, indicating how many corresponding currencies the base currency can be converted into. For example, the current exchange rate quoted by USDCNH is 6.5 1702, which means that 1 USD can buy 6.5 1702 RMB. Yes, money is essentially a tradable commodity. The book says it is universal equivalence, and Marx says it is one.
Many foreign exchange transactions are based on the spread of the standard quotation, with Pip-Percentage in Point as the basic unit, usually the fourth decimal place, while the yen currency pair adopts three decimal places, with 0.0 1 as the point. In MT4 operation, the stop-loss point is usually the technical point, which is subject to the last decimal place. Pay attention when setting the stop-loss point. In order to distinguish the difference between them, the standard price difference is usually represented by Point, while the technical price difference is represented by Pip.
Foreign exchange trading is based on the standard contract of 654.38+ million base currency, while the actual transaction is based on hands, and a standard contract is the value of a contract. Buy 1 lot USDCNH, that is, 65,438+million USD against RMB. When the exchange rate rises from 6.5 1702 to 6.5 1708, that is, 0.6 spread, each dollar can earn 0.00006 RMB, and each spread change of the exchange rate is the spread, which is expressed in the quoted currency and usually converted into dollars in foreign exchange transactions. Spread and spread are standard units of measurement in foreign exchange transactions, and the current USDCNH point value is100000 * 0.0001/6.51708 =1.534 USD. Then the trading profit of the whole contract is1.534 * 0.6 = $0.92.
Direct pricing is an indirect pricing method of currency pairs in US dollars, that is, the currency pairs in US dollars fluctuate at a certain point in the US dollars, and the point value is the default value, while the direct quotation calculates the point value according to the current exchange rate. If you buy 107.72/standard USD/JPY, then the point value is 1 00000 * 0.01107.72 = 9.2 USD. Take USD/CHF as an example, the current exchange rate is 0.8830 1, and the point value is100000 * 0.0001/0.88301=1.32.
The crossbar needs to be changed. Crossboard can make two straight-line transactions, for example, buying GBP/JPY is equivalent to buying GBP/USD and USD/JPY. Cross-count value = number of hands x basis point x exchange rate between base currency and US dollar/current foreign exchange rate.
If calculated by the point value of AUD/JPY, the current price is 78.747, and the exchange rate of AUD/USD is 0.762 18. The point value of AUD/JPY is100000 * 0.01* 0.76218/78.747 = 9.68 USD. In other words, each basis point corresponds to 1000 yen, which is converted into Australian dollars and then converted into US dollars.
Another example is the current price of GBP/JPY 139.442, GBP/USD 1.34964, and the point value is100000 * 0.01.34964139.442 = 9. Almost all currency pairs related to the Japanese yen are close to $ 10.
Contract value of various products:
There are four futures exchanges in China, namely China Financial Futures Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange and Shanghai Futures Exchange. The products on the market are different.
Shanghai Futures Exchange has two categories: futures and options:
1 futures varieties: divided into two categories: metal futures and energy and chemical futures. Metal futures include copper, aluminum, zinc, lead, pliers, tin, gold, silver, wire, rebar, stainless steel and hot rolled coil; Energy and chemical futures include crude oil, low sulfur fuel oil, fuel oil, petroleum asphalt, natural rubber, No.20 glue and paper pulp.
2 Optional varieties: copper, aluminum, zinc, gold, natural rubber.
It should be noted that the subject matter of the above options is not physical assets, but futures, so these options are all futures options.
For example, gold futures 1 1,000 g/lot is quoted at RMB (yuan/gram). For example, the gold futures main contract AU20 12 uses 5 times leverage to speculate or hedge, and the transaction fee is 10 yuan/hand. Although the cheapest futures products, such as fiberboard and corn, need about 2,000 yuan as the first-hand deposit, financial futures accounts need at least 50 yuan, and they also need the usual exams.
Basic information of precious metal products in IC market-metals (gold, platinum, palladium)
Integrated circuit market index product catalogue product specification table
The overnight penalty cost is 3%+/-LIBOR, and the quotation point for each hop is 1 index point.
Integrated circuit market foreign exchange product information foreign exchange-basic information
2020165438+1October 27, foreign exchange deposit continued. Minimum margin requirement MMR-Mininum margin requirement refers to the margin of 0.0 1 standard hand, including stock index futures, commodities, precious metals, national debt, a basket of products and other investment tools.
For example, if the price of BTC/ USD is 8000.00 from 17:00 EST to 18:00 EST, the margin requirement of the contract will be updated to $20.00.
For example, if the price of ETH/USD is 300.00 from 17:00 to 18:00 EST, the margin requirement of the contract will be updated to $7.50.
For example, if the price of EOS/USD is 30.00 from 17:00 EST to 18:00 EST, the margin requirement of the contract will be updated to $7.50.
The gold XAU/ USD standard contract is 65,438+000 ounces, and the transaction is 65,438+0 standard lots. Every fluctuation of 0.0 1 is 1 USD, that is, every change per ounce brings a point value of 0.0 1 USD. When MT4 trades gold, the minimum trading volume of FXCM platform is 0.0 1 lot. Fill in 1 to place an order, which means that 1 mini hand is one ounce. The actual use of 1:200 deposit ratio requires a deposit of 10.5 USD. IC Markets orders mini-hands, that is, one ounce, at 0.0 1, and the margin ratio is 1:400, which requires a margin of 4.72 USD.
Silver prices are driven by speculation and supply and demand, mainly by big traders or investors, short selling, industrial, consumer and commercial demand, and hedging. Compared with gold, the price of silver fluctuates greatly, because the market liquidity is low and the demand fluctuates between industrial consumption and storage value.
15kg or 5000 oz standard hand is commonly used in the international platform of silver XAG/ USD standard contract, and the quotation unit is USD/oz. The maximum contract quantity of a single contract of FXCM is 200,000 ounces, while the minimum contract quantity is 50 ounces. Please note that the transaction quantity must be a multiple of 50. In the quotation document of FXCM, the deposit is reported as 14 USD from 0.0 1. Enter 1 order on the MT4 platform, which generally means standard lot. The minimum transaction volume of silver is 50 ounces, that is, 0.0 1 contract. Therefore, when Fuhui makes 0.0 1 standard hand silver, 50 is enough.
IC Markets silver contract100oz/standard lot, minimum transaction is 0.0 1 contract, and orders can be placed at MT4 according to actual value. At present, you can quote about $26 an ounce for silver, and trade it in standard lots of 1:40. The required margin is about $2,600 /40=52. Trading 0.0 1 standard lot 1 ounce, fluctuation value 0. 10 USD per 0.0 1.
The standard contract for crude oil USOil is 1000 barrels. According to the current quotation of 48 dollars per barrel, the leverage of 1:400 is about 120 dollars, and every fluctuation of 0.0 1 is 1.0 dollars.
The lowest trading unit of Dow Jones index US30 FXCM is 1, that is, 0. 1 lot, which is indicated by entering 1 when placing an order. The US30 contract of IC Markets platform is USD 30,000, the minimum transaction unit is 0. 1 lot, the margin ratio is fixed at 1:200, and the first-hand margin is USD 150. 1.00 is USD1.00 every time it fluctuates, and there is no commission for index trading.
The underlying asset of US30 is E-Mini Dow Jones Industrial Average futures. The Dow Jones index includes 30 large American companies, including American Express, Boeing, Chevron, Coca-Cola, DuPont, Singular Company, Goldman Sachs, Intel, IBM, Microsoft and Nike. At present, 50 FTU US30 contracts are equivalent to 1 E-Mini Dow Jones Industrial Average futures contracts.
The lowest trading unit of Nikkei index JP225 is 1, that is, 0. 1 lot, but when placing an order, enter 1 and the first-hand deposit is 45 dollars. At present, the 550 FXCM JPN225 contract is equivalent to the 1 Nikkei average futures contract. The minimum trading unit in IC market is 0.0 1 index point/lot. When placing an order for MT4, entering 1 means that the current index is 27304, the margin of 0.0 1 hand is 1.32 USD, and every fluctuation of 1.0 USD is 0.0 1 USD.
The basic assets of VOLX panic index products on FXCM platform are mini volatility index futures of Chicago Board Options Exchange, with the lowest transaction 1 index point/hand, fluctuation of 0.0 1 point, value of $ 0. 10 and margin of $30.
At present, the code of CBOE VIX index futures volatility index futures traded on IC Markets platform is VIX_F 1, the minimum transaction is 1 index point/lot, the margin is 0.24 USD, and the fluctuation is 0.0 1 USD, and no commission is charged for futures CFD.
For the Hang Seng Index HK50 contract on IC Markets platform, the lowest trading index is 0. 1, and the current offer is 27209.00/272 18.00, which is quite different. Each standard contract uses 1:200 deposit 17.57 USD, and the fluctuation of 1.0 point is 0. 13 USD.
Hang Seng Index is compiled by Hang Seng Index Services Limited, a wholly-owned subsidiary of Hang Seng Bank of Hong Kong. It is a weighted average stock price index with 50 listed stocks in Hong Kong stock market as samples and their liquidity as the weight. It is the most influential stock price index reflecting the price fluctuation trend of Hong Kong stock market.
Trading on IC Markets platform, the current BTC/ USD price is 26,765, each contract is 5,355 USD, and the margin ratio is 1:50. 0.0 1 minimum contract transaction 0.0 1 bitcoin, fluctuation 1.0, value 0.0 1 USD.
At present, the price of ETH/USD is 7 18.00, each contract is 144 USD, the margin ratio is 1:5, the lowest transaction is 0.0 1 Ethereum, and the fluctuation is 1.0 USD. The current EOS/USD price is 2.7200, each contract is 0.55 USD, the margin ratio is 1:5, the minimum transaction is 1 grapefruit coin, and the value is 0.0 1 USD for every fluctuation of 0.0 1 point.
Remember, CFD trading of foreign exchange and contracts for differences may lead to losses exceeding your deposits, so it may not be suitable for everyone, so please make sure that you fully understand the risks involved.
At present, the default leverage ratio of IC market is as follows, except for special trading products. At present, USD /CNH USD /HKD is 100 times leverage: