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Pricing > Interest and Financing > Benchmark Rates

 

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Benchmark Rates 

 

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Benchmark Rates

 

The current day benchmarks are as follows: 

  Interest Benchmark Definitions  
Benchmark Rates as of 20170510
Currency
Benchmark (BM)
Rate
USD
Fed Funds Effective (Overnight Rate)
0.910%
USD
11 am GMT USD LIBOR (used only for Gold and Silver Borrow Fees)
0.928%
AUD
RBA Daily Cash Rate Target
1.500%
CAD
Bank of Canada Overnight Lending Rate
0.500%
CHF
Swiss Franc LIBOR (Spot-Next rate)
(0.796)%
CNY/CNH
CNY HIBOR Overnight Fixing Rate
2.782%
CZK
Prag ON Interbank Offered Rate
0.120%
DKK
Danish Tom/Next Index
(0.463)%
EUR
EONIA (Euro Overnight Index Average)
(0.358)%
GBP
GBP LIBOR (Overnight Rate)
0.225%
HKD
HKD HIBOR (Overnight rate)
0.066%
HUF
Budapest Interbank Offered Rate
0.900%
ILS
Tel Aviv Interbank Offered O/N Rate
0.100%
INR
Central Bank of India Base Rate
9.700%
JPY
JPY LIBOR (Spot-Next rate)
(0.009%)
KRW
Korean Won KORIBOR (1 week)
1.250%
MXN
Mexican Interbank TIIE (28 day rate)
6.893%
NOK
Norwegian Overnight Weighted Average
0.480%
NZD
New Zealand Dollar Official Cash Daily Rate
1.750%
PLN WIBOR (Warsaw Interbank Overnight Rate) 1.630%
RUB
RUONIA (Ruble Overnight Index Average)
9.270%
SEK
SEK STIBOR (Overnight Rate)
(0.478)%
SGD
Singapore Dollar (O/N swap) Rate
0.470%
ZAR
South Africa Benchmark Overnight Rate on Deposits (Sabor)
6.979%
View Benchmarks from Previous Periods
 
Place Trade (PT) uses internationally recognized benchmarks on overnight deposits as a basis for determining interest rates. We then apply a spread around the benchmark interest rate ("BM") in tiers where larger cash balances receive increasingly better rates, to determine an effective rate.  
PT accrues interest on a daily basis and posts actual interest monthly on the 3rd business day of the following month. View detailed examples on how we calculate margin interest by clicking here

Disclosures

The applied rate may be reduced if pre-arranged. Please contact Customer Service to discuss this opportunity further.

Costs for position borrowing of stocks with special considerations (for example hard to borrow instruments) are usually higher than for normal availability stocks. These additional costs will be passed on in the form of lower short stock credit interest. Please note that this may lead to a net debit short stock credit interest in the event that the costs to borrow exceed the interest earned. In order to view the indicative short stock interest rates for a specific stock, we recommend that clients use the Short Stock (SLB) Availability Tool in the Support > Tools menu in Account Management.

 
Interest Benchmark Definitions
Fed Funds Effective (USD only) is the volume weighted average of the transactions processed through the Federal Reserve between member banks. It is intended to reflect the best estimate of interbank financing activity for Reserve Bank members and is the reference for many short term money market transactions in the broader market.
LIBOR (multiple currencies) stands for London Inter-Bank Offered Rate. It is a daily fixing for deposits with durations ranging from overnight to 1 year and is determined by a group of large London banks. It is the most widely used measurement for interest rates on most currencies outside the domestic market(s).
EONIA (EUR only) is the global standard for overnight Euro deposits and is determined by a weighted average of the actual transactions between major continental European banks mediated through the European Central Bank.
HIBOR (HKD only) is a daily fixing based on a group of large Hong Kong banks. The same methods and durations are set as for LIBOR currencies.
KORIBOR (KRW only) is an average of the leading interest rates for KRW as determined by a group of large Korean banks. The benchmark utilizes the KORIBOR with 1 week maturity.
STIBOR (SEK only) is a daily fixing based on a group of large Swedish banks. The same methods and durations are set as for LIBOR currencies.
PRIBOR (CZK) is the average interest rate at which term deposits are offered between prime banks.
RUONIA (RUB) is a weighted rate of overnight Ruble loans. The RUONIA is calculated by the Bank of Russia.
STIBOR (SEK only) is a daily fixing based on a group of large Swedish banks. The same methods and durations are set as for LIBOR currencies.
BUBOR (HUF) is the average interest rate at which term deposits are offered between prime banks.
TIIE (MXN only) is the interbank "equilibrium" rate based on the quotes provided by money center banks as calculated by the Mexican Central Bank. The benchmark TIIE is based on 28-day deposits so is atypical as a measure for short term funds (most currencies have an overnight or similar short term benchmark).
Overnight (O/N) rate is the most widely used short term benchmark and represents the rate for balances held from today until the next business day.
Spot-Next (S/N) refers to the rate on balances from the next business day to the business day thereafter. Due to time zone and other criteria, Spot-Next rates are sometimes used as the short-term reference.
RBA Daily Cash Target (AUD) refers to a 1 day rate set by the Reserve Bank of Australia to influence short term interest rates.
NZD Daily Cash Target (AUD) refers to a 1 day rate set by the Reserve Bank of New Zealand to influence short term interest rates.
Day-Count conventions: It is beyond the scope of this document to describe day-count conventions and their use in interest calculations. Place Trade conforms to the international standards for day-counting wherein deposits rates for most currencies are expressed in terms of a 360 day year, while for exceptional currencies (ex: GBP) the convention is a 365 day year.

Top Benchmark Interest Rates

Click here to view our Examples of Interest Calculations Page

Please Note:

Examples are shown for informational purposes only.  Rates are subject to change without notice.  

Minimum interest rates on credit cash balances is 0%.  Interest charges will never be applied to credit cash balances.

Costs for position borrowing of stocks with special considerations (for example, hard to borrow instruments) are usually higher than for normal availability stocks.  These additional costs will be passed on in the form of lower short stock credit interest.  Please note that this may lead to a net debit short stock credit interest in the event that the costs to borrow exceed the interest earned.  In order to view the indicative short stock interest rates for a specific stock, Place Trade recommends that customers utilize the Short Stock (SLB) Availability tool located under Account Management/Tools.

*3: The same rate applies to all balance amounts for ILS; there are no tiers.
*2: The same rate applies to all balance amounts for INR; there are no tiers.

Top Benchmark Interest Rates 

 

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