S&P500, Aussie SPI200, IB

[gvanto]

Hey guys just a couple of questions:

- What time does the S&P500 close in the mornings (Australian mornings) ?
- What time does the Aussie spi200 close in the (aussie) mornings?

- for funding an IB account, does one require US$10k or AUD$10k ?


Many thanks
Gerry

 

[dasmith1973]

Hi, US$10K for IB, (about $15.4 K AUD @ 0.65 conversion).

Cheers, Dave

 

[Nick Radge]

- What time does the S&P500 close in the mornings (Australian mornings) ?

Cash at 8.02am, futures at 8.15am

- What time does the Aussie spi200 close in the (aussie) mornings?

8.00am

 

[gvanto]

Thanks Nick!

Hope the Elliot Wave is treating ya well ...

G

 

[cutz]

Hi Everyone,

Could someone please explain the mechanics of futures rollover, I take it you may be selling(buying) the expiring contract then buying(selling) the next front month, but does this trigger a CGT event?

The reason I ask is that I’m looking for a buy and hold vehicle for the ASX200, the SPI seems to be only product that can do this but if it’s to much of a hassle I’ll just wait for a suitable time to dip my toes into the US market via a ETF.

Thanks in advance.

 

[wayneL]

cutz,

Look up STW, it is the Oz version of SPY and tracks the ASX SP200.

There is also one listed in the US, symbol EWA.

 

[cutz]

Thanks for the info Wayne, i'll check them out.

 

[cutz]

Gee,

I wish I knew about this site a few years ago, back then I assumed the only vehicle for diversified buy and hold was a managed fund so I set a couple up, which I now regret considering what’s available in terms of ETF’s, especially as most of them are optionable.

 

[wayneL]

Gee,

I wish I knew about this site a few years ago, back then I assumed the only vehicle for diversified buy and hold was a managed fund so I set a couple up, which I now regret considering what’s available in terms of ETF’s, especially as most of them are optionable.

Exactly.

ETFs are a fantastic vehicle for SMSF type investment with massively smaller fees. In comparison, mutual funds have knobs on them with their ridiculously high fees and questionable management.

 

[cutz]

Hi Guys,

Probably getting a bit off track from the thread topic but I started reading through the STW(ASX200 ETF) PDS and i'm stuck.

I know I can buy/sell units via the exchange but what has bogged me down is brokers are able to apply/redeem units (100,000 lots) in exchange for delivery/receipt of index parcels, therefore the amount of units on issue fluctuate. The PDS doesn’t explain the reason for this.

So for an application, a broker can deliver an index parcel to the fund in exchange for 100,000 units and vice versa for redemption.

Does anyone know why this mechanism exists? It’s probably really obvious but I can’t see it ATM.

 

[chops_a_must]

Arbitrage would be the obvious thing.

Also if they wanted to offload shares in a more illiquid stock, or something they didn't want perhaps?

 

[Wysiwyg]

The reason I ask is that I’m looking for a buy and hold vehicle for the ASX200, the SPI seems to be only product that can do this but if it’s to much of a hassle I’ll just wait for a suitable time to dip my toes into the US market via a ETF.

Thanks in advance.

I am under the impression that a CFD index contract "Australia 200 CASH" is an open ended contract as opposed to the "Australia 200 FORWARD (March 2009)" which expires on the 19/03/2009.

IB is not a CFD provider though.

 

[wayneL]

I wouldn't touch CFDs for a long term hold with your barge pole.

Counterparty risk is just too high.