Stop and Stop-Limit orders are subject to support by the exchange on which the contract is traded. The order types available are noted in the pop-up details for each contract. When Stop orders and Stop-Limit orders are not supported by the exchange, Saxo offers the possibility to execute stop orders through synthetic stop orders where your order is triggered if the underlying is traded at least for one lot.

Please be aware that a Stop order on any of the CME group exchanges will change duration to a Day Order if triggered. If not filled by end of day, the order will expire.

Partial fills may occur on Limit orders and the remaining amount stays in the market as a Limit order and may be filled within the order duration. Market orders can be filled at numerous levels, the price paid will be the volume weighted average price of all the fills.

With Saxo you avoid physical delivery of the underlying asset on expiry of a futures contract, which is not supported. Therefore, we advise you to take note of the expiry and first notice dates (FND) of any futures contracts in which you have positions and ensure they are closed before the appropriate day, as described below.

For some contracts, the FND which Saxo utilises could be several days earlier than the FND provided by the relevant exchange. Please always refer to the trading conditions displayed on the contract in the trading platform as well as the trade ticket to see specifications for each contract before trading.

• If the expiry day is prior to the first notice day (FND) as utilised by Saxo, the contract will be closed on the expiry day.

• If the FND as utilised by Saxo is the same or prior to the expiry day the contract will be closed the trading day prior to such FND.

If futures positions are not closed before the relevant date, Saxo will close the position on your behalf at the first available opportunity at the prevailing market rate. Any resulting costs, gains or losses will be passed on to you.

Click here to download the futures contract specification.

Market orders

Market orders are not accepted on all contracts. Please use limit orders to hit the bid/offer.

Limit orders

A BUY Limit order cannot be higher than the current offer and a SELL Limit order cannot be lower than the current bid. If the market is moving at or around the time at which the order is placed, this order may be rejected by the exchange. Please repeat the process of placing the order again.

Stop Limit orders

Stop orders without Limits are not accepted.

The limit price specified within a Stop Limit order cannot be more than the below specified values away from the stop price.

In case of an order that was placed where the limit price is greater than the above acceptance criteria, the order will appear as being accepted by the platform. 

However, please note that upon the trigger price being touched/breached, the order will NOT be executed. 

In such cases, the order will be removed from the system afterwards. 

For Milling Wheat, Corn, Rapeseed & Malting Barley Saxo must follow Exchange Rules with effect up to 5 days prior to expiry. As a consequence:

• Short positions may be forced closed within five days from the expiry day with a cut-off time of 16:00 CET daily.
• All open positions will be forced closed one day prior to expiry, where circumstances apply.

The tax will be applied to all Italian Derivatives whose underlying assets are equity instruments issued by Italian companies

The Italian FTT for Derivatives applies irrespective of the location of the client or the jurisdiction of the transaction, so everyone trading Italian Derivatives will have to pay new Italian FTT for Buys and Sells.

Summary of Italian FTT for Derivatives

For EUR denominated power futures different pricing applies. 

These commissions apply for each contract and for each trade (buy, sell or at expiry), and exclude exchange fees which are listed under the contract specifications.