A brief overview of the spreadbetting service we offer. For more info please get in touch.

1. Introducing WH Ireland
Spreadbetting

2. Overview
• Personalised dealing service – A direct line to your broker who can execute trades on your behalf
• Can trade on SETS, via RSPs or over phone to get the best price, often inside the spread, via
your WH Ireland broker
• Can trade online direct through IG platform and on your mobile
• Trades dealt by WH Ireland broker are ‘given up’ to your account with IG
• Typical spread is 0.25% (25 bps) for UK shares
• Introduce 2 clients who do 20 or more trades combined over the first 2 months to WH Ireland and
the typical spread will be reduced to 15 bps for your account
• Funding charge of one-month LIBOR (currently c. 0.66%) +/- 2.5% on open positions (Current
retail lending rates are considerably higher)
• Monitor your margin requirements online or let your WH Ireland broker keep you informed if you
come close to using your margin allowance
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3. Comparison Table
Spreadbetting Trading Account
No stamp duty 0.5% stamp duty on purchases
No Capital Gains Tax or Income Tax Minimum 18% CGT (28% if you’re a
normally payable for UK residents higher rate tax payer)
No leverage. Cash required to pay for
Leveraged positions
positions
Go long or short Only long positions allowed
Trade options, commodities, indices,
Trade UK & international equities,
Forex, equity, bonds, major
bonds, ETFs and funds
international markets and more
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4. International
• No FX on international positions. All bets can be in £’s, $’s or €’s per point if you choose
Reduces the direct & indirect cost of currency conversions
• Live prices through IG platform
• Tight spreads on major DFB markets;
US (major) – 0.10%, US (other) – 0.15%
Europe (major) – 0.10%, Europe (other) – 0.25%
Canada (major) – 0.10%, Canada (other) – 0.15%
Australia (major) – 0.10%, Australia (other) – 0.25%
Hong Kong & Singapore – 0.4%
International Order Book – 0.25%
• Trades dealt via IG platform or over phone with IG dealers
• International positions can be monitored but NOT dealt by your WH Ireland broker
• Ability to setup numerous watchlists depending on users’ preferences to help keep track of UK &
International stocks, indices, etc.
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5. Funding
• Funding adjustment applied to all positions held at 10pm UK time
• For stock index, sector and shares;
One month LIBOR +/- 2.5%:
Daily interest adjustment = (Size of bet x underlying price at 10pm x applicable annual interest rate) / 365
Example:
Client A, with a long position, pays one-month LIBOR plus 2.5%
Client B, with a short position, receives one-month LIBOR minus 2.5% (while interest rates are low this
means short positions will pay funding
• For Forex, gold & silver DFBs, the funding adjustment is based on the relevant tom-next spread
including an admin fee of 0.0055% per day
Tom-next is a market swap rate expressed in pips, based on the difference between the interest paid to
borrow the currency that is notionally sold overnight, and the interest received from holding the currency that
is notionally bought overnight
• Adjustments appear on the ledger as an aggregate amount for each currency that you hold
positions in
• Dividend adjustments on stock index DFBs are made at the close on the underlying cash market
• Dividend adjustments on share DFBs are made at the open of the underlying cash market
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6. Example
Buy 10,000 shares in Gulf Keystone (GKP.L) at 192.25p
Through an ordinary trading account you pay £19,225 + £96.13 stamp duty = £19,321.13
(plus commission)
Through a WH Ireland spreadbetting account 10,000 shares = £100 a point.
– Deposit requirement is 15% = £2,883.75
– Commission at 0.25% = £48.06 (£19,225 x 0.25%)
• Commission at 0.15% = £28.84 (£19,225 x 0.15%) [see Overview on how to qualify for this rate]
• Trade booked to IG account at basic 0.25% rate (192.73p). 0.1% credited back to the account
following Tuesday.
– Funding charge of £1.66 (£19,225 x 3.16% / 365) per day
57 days of funding is equivalent to the stamp duty normally payable effectively making it
the same as buying T+57 at the touch price in this example
Only 15% of the cash needed to open up the same size position and no CGT payable on
any gains made
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7. Example of margin requirements
Based on a £10,000 position:
Stock Margin Deposit
Vodafone (VOD.L) 5% £500
Apple (AAPL.US) 5% £500
Facebook (FB.US) 5% £500
Cable & Wireless Worldwide (CW..L) 5% £500
Aquarius Platinum (AQP.L) 10% £1,000
Lloyds TSB (LLOY.L) 10% £1,000
Invensys (ISYS.L) 10% £1,000
HMV Group (HMV.L) 15% £1,500
Kenmare (KMR.L) 15% £1,500
Desire Petroleum (DES.L) 20% £2,000
Yell (YELL.L) 25% £2,500
Matra Petroleum (MTA.L) 25% £2,500
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8. IG dealing platform
• Charts
• Real time prices, portfolio
valuations and watchlists
• Stop loss & Limit orders
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9. IG dealing platform cont’d
• News
• Insight
• Profit & Loss and margin
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10. Team Biographies
Nick Richardson
Nick graduated from the University of Manchester in 2007 with a degree in Mathematics. He joined TD Waterhouse (now TD Direct
Investing) and swiftly progressed to a senior dealer in their Global Trading team handling large, complex trades and HNW clients. Nick has
recently joined WH Ireland as an investment manager where he executes trades for a number of retail & professional clients, managing
existing relationships and setting up new ones.
Matthew Singleton
Matthew started his career with James Brearley & Sons in 2005 where he trained as a dealer. He joined WH Ireland in 2010 as a head of
dealing for Manchester where he has since progressed to an investment manager and was also given the responsibility of managing the
spreadbetting service and the execution only clients.
Rupert Webb
Rupert graduated from the University of Bristol in 2010 with a degree in Economics & Management. After an internship with Rothschild he
joined WH Ireland in 2011, where he trained with the Private Client Broker team before becoming an Investment Manager. As well as
managing investment portfolios for Retail clients, Rupert works on the trading desk, dealing for Execution Only and spreadbetting clients.
Contact details
Telephone: 0161 832 2174
Address: 11 St James’s Square, Manchester, M2 6WH
Email: nick.richardson@wh-ireland.co.uk
matthew.singleton@wh-ireland.co.uk
rupert.webb@wh-ireland.co.uk
Website: www.wh-ireland.co.uk
Remember that CFDs and spread betting are leveraged products and can result in losses that exceed your initial deposit. Trading CFDs or
spread betting may not be suitable for everyone, so please ensure that you fully understand the risks involved. If you are in any doubt you
should seek professional advice. If you choose to enter into CFD trades or spread bets with us, it is important that you remain aware of the
risks involved, that you have adequate financial resources to bear such risks and that you monitor your bets carefully. FP053
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11. Appendix
BPS (basis points): 1 bps = 0.01%
Deposit: The funds required as an initial outlay for a bet. It is not the total amount that can be lost on the bet
DFB (Daily Funded Bet): A long-term bet on the cash price of an underlying instrument. Each day your bet
remains open, we make a cash adjustment to your account to reflect the funding costs of your bet. We will also
make dividend adjustments when applicable
DMA (Direct Market Access): Electronic trading facilities where brokers can place trades directly onto the
order book
LIBOR (London Inter-Bank Offered Rate): The rate at which banks lend money to other banks
Limit order: An instruction to deal if the price moves to a more favourable level (eg to 'buy' if the price goes
down to a specified level).
Margin requirements: The amount required from a client – in addition to any deposit due – to cover losses
when a price moves adversely. Sometimes called 'variation margin'
SETS: The London Stock Exchanges electronic dealing platform
Spread: The difference between the bid and offer (usually inclusive of dealing commission)
Stop Loss: An instruction to deal if the price becomes less favourable; normally placed to prevent a loss of
more than a certain amount of money.
RSP (Retail Service Provider): An electronic quote made by an LSE member firm for other member firms to
deal against
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