Pricing for Local and International Bond Trades

A bond is a debt security under which the issuer owes the investors debt and is obliged to pay them interest and usually the full capital back at a later date at a pre determined price. Bonds are an important piece of any diversified portfolio. Ideal for spreading risk, they tend to be less volatile and offer the highest and most reliable cash streams.

Bond Type Fees
Malta Stock Exchange
Nominee
€ 9.99 / 0.10%
Certificated (MSE Held)
€ 15.00 / 0.30%
Initial Public Offerings (IPO)
Free
Initial Public Offerings (IPO) – Certificated
€ 25.00
Treasury Bills
€ 30.00 / 0.05%
Custody Free
International
International Bonds
€ 9.99 / 0.10%
International Bond Custody
Free

 

 

Bond Type
Nominee
EUR 9.99 / 0.10%
Certificated
EUR 15.00 / 0.30%
Initial Public Offerings (IPO)
No Charge
Initial Publuc Offerings (IPO) – Certificated
EUR 25.00
Treasury Bills EUR 30.00 / 0.05%
Custody No Charge
International Bonds
EUR 9.99 / 0.10%
International Bond Custody
No Charge
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More information

What is extended hours trading?

The United States market is open between 9.30 a.m. ET (“Eastern Time” or local New York City time) and 4.00 p.m. ET, Monday through Friday (excluding Exchange holidays), for its core trading session. Extended hours trading refers to the periods of time that you are able to trade after the market closes and before the market officially opens. The rules for trading during extended hours trading sessions may differ from the rules during the core trading session. Extended hours trading may not be suitable for all investors.

You should consider the following points before engaging in extended hours trading.

EXTENDED HOURS TRADING SESSIONS

Moneybase’s Extended Hours Trading offering has two components: the Pre-Market Session and Post-Market Session (collectively, the “Extended Hours Trading Sessions”). You must designate a trade for Extended Hours Trading for it to be eligible for execution during these Sessions (according to the terms discussed below), and you do not need to designate a trade for either the Pre- or Post-Market Session specifically.

  • Pre-Market Session
    The Pre-Market Session is from 4.00 a.m. ET to 9.30 a.m. ET. Orders will begin to queue for the Pre-Market Session starting after 8.00 p.m. ET on the previous trading day, and will be eligible for execution (along with newly placed orders) during the Pre-Market Session. Any unexecuted or partially filled orders from the Pre-Market Session will automatically roll over into the Core Trading Session and, if still not fully executed, the Post-Market Session.

  • Post-Market Session
    The Post-Market Session is from 4.00 p.m. ET to 8.00 p.m. ET, during which new orders may be entered. Additionally, any unexecuted or partially filled orders from the Core Trading Session will automatically roll over into the Post-Market Session. All unexecuted and partially filled orders will be cancelled at 8.00 p.m. ET.

Extended Hours Trading Sessions will not take place on official Exchange holidays and Moneybase reserves the right to change or modify hours of operation for Extended Hours Trading at any time without prior notice. A Moneybase Extended Hours Trading Session, or any security traded therein, may be temporarily or permanently suspended without prior notice at any time at Moneybase’s discretion.


How does it work?

Moneybase may route trades to nationally recognized exchanges, lit venues, market makers, and automated trading systems to facilitate Extended Hours Trading. Any trades designated for Extended Hours Trading will be available for execution during that trading day (4.00 a.m. ET through 8.00 p.m. ET, counting Core and Extended Hours Trading); any order placed outside of that time will be eligible for execution starting at 4.00 a.m. ET the next trading day. Once an order is placed, Moneybase will attempt to execute it during the current Trading Session (or during the next Pre-Market Trading Session if the order is placed when trading is not occurring). A trade that is not fully executed during Pre-Market or Core Market Sessions will roll over to the next Session. If the trade is still not fully executed by the end of the Post-Market Session at 8.00 p.m. ET, it will be cancelled.

TERMS OF EXTENDED HOURS TRADING SESSIONS

All trades designated for Extended Hours Trading will be subject to these Extended Hours Trading terms.

  • Limit orders only
    Only limit orders are accepted. The maximum individual trade size accepted by Moneybase is 10,000 shares.

  • Whole shares only
    Only whole share orders are accepted.

  • Eligible securities
    Not all securities may be available for Extended Hours Trading. The availability of a particular security may vary based on a number of factors, including the interest in that security during a given Extended Hours Trading Session. Moneybase does not guarantee that Extended Hours Trading will be available in all securities or exchanges.

  • Time-in-Force
    If you designate a trade for Extended Hours Trading, then the default time-in-force instruction is for one trading day. This means that if your order is unexecuted (or partially executed) at the end of one of the day’s trading sessions, your order will automatically roll over to the next trading session that same day; any unexecuted trades, or portions thereof, will automatically be cancelled at 8.00 p.m. ET. For example: an order designated for Extended Hours Trading that is unexecuted (or partially executed) at the close of the Pre-Market Session will automatically roll over to the Core Trading Session; in addition, an order designated for Extended Hours Trading that is entered during the Core Trading Session and is unexecuted (or partially executed) at the close of the Core Trading Session will automatically roll over to the Post-Market Session (and if still unexecuted or partially executed at 8.00 p.m. ET will be cancelled).

  • Account types
    Extended Hours Trading may not be supported for all account types.


IMPORTANT CONSIDERATIONS FOR EXTENDED HOURS TRADING

Extended Hours Trading may not be suitable or appropriate for all investors and poses certain risks including, but not limited to: lower liquidity, price changes, news announcements, higher volatility, and wider spreads. Moneybase does not guarantee that there will be a market for trades entered during or designated for Extended Hours Trading; there may be limited trading activity compared to the trading activity during Core Trading Sessions. This may make it more difficult to obtain order executions and may entail other risks such as those listed below:

  • Risk of lower liquidity
    During Post-Market Trading sessions there may be less trading volume for certain stocks, making it more difficult to execute trades. In addition, there may be a number of orders ahead of yours that will be filled by incoming matching orders before your order can be filled. It is possible that your order will not be executed at all or only partially executed. Unexecuted orders or portions thereof will be cancelled at 8.00 p.m. ET.

  • Risk of higher volatility and wider spreads
    Stocks may experience greater price fluctuation and wider spreads during Extended Hours Trading than during Core Trading Sessions. News stories announced during the Post-Market Session may have greater impact on stock prices, as discussed in greater detail below. Prices may not be calculated or widely disseminated during Extended Hours Trading for certain securities products whose value is derived from an underlying index or calculated at other predetermined intervals.

  • Risk of changing prices
    The prices of securities traded in Extended Hours Trading may not reflect the prices either at the end of the Core Trading Session or upon the market opening the next trading day. As a result, you may receive an inferior price when engaging in Extended Hours Trading than you would during the Core Trading Session.

  • Not Reg-NMS eligible
    Moneybase endeavors on a best-efforts basis to obtain the best available price in the market for trades executed during Extended Hours Trading Sessions.

  • Risk of unlinked markets
    During the Core Trading Session, quotes and last-sales reports are consolidated. Extended Hours Trading quotes and last-sales reports are not consolidated across all Electronic Markets (“EM”). Extended Hours Trading quotes and prices will represent the best prices available at that time only through EMs that may be participating in Extended Hours Trading. Quotes and last-sale prices may vary widely from one EM to another.

  • Risk of news announcements
    Issuers often make news announcements that may affect the price of their securities after the Core Trading Session. Similarly, important financial information is frequently announced outside the Core Trading Session. These announcements may occur during trading in Extended Hours Trading Sessions and if combined with lower liquidity and higher volatility may cause an exaggerated and unsustainable effect on the price of a security.

  • Competition
    Many post-market-hours traders are professionals who are associated with large institutions and may have access to more information than individual investors.

Additional information about the risks associated with Extended Hours Trading is available from the SEC at: Post Market Trading: Understanding the Risks.

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Choose from a wide array of investments

We provide you with direct access to thousands of bonds including Eurobonds and Domestic Bonds. Choose from a wide selection of Sovereign Bonds (Government), Corporate Bonds and Treasury Bills in all major currencies.

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We access the bond markets directly to ensure that you obtain the best possible price in the market at any point in time. We are proud to offer a low-cost and transparent fee structure. Our rates are easy to understand and we are one of the few brokers who do not charge custody fees.

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We offer a variety of powerful tools to help you monitor your investments and manage your strategies.

  • Bond Lists – You can view predefined lists of attractive bonds in various categories such as Investment Grade, High Yield and Sovereign Bonds. You can also filter lists by currency.
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  • Customised List – Once you have identified attractive bonds that you wish to monitor, you can save them in your own customised list and follow their progress the next time you log on to the system.
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  • Live Statistics and Charts – Graphically view your bond ladder, monthly income and maturity ladder as well as your portfolio currency distribution, instrument type distribution and more!
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Powerful research

We produce in-house research on a variety of bonds. Access our research online or ask us for specific research or the bond lists you require.

Track record

We have been investing in the International Bond Markets since 1972 and have a proven track record. We access the markets in real time, thus ensuring that our clients obtain the fastest execution in the market at any point in time.

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We have been investing in the International Bond Markets since 1972 and have a proven track record. We access the markets in real time, thus ensuring that our clients obtain the fastest execution in the market at any point in time.

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