Interest Rates - Historical

[Vrothdar]

I'm trying to build a consideration of interest credits/debits into my tests of different trading systems. I've had a hunt around using google but not had any luck finding a one stop shop for this data.

I've had a look at the BoE website for the GBP interest rates and found that they give their official rate and an average of 4 banks. Is it safe to go with the offical rate or should I be using the average of the banks?

I take it I could find similar information from other central bank websites and then use these to calculate the interest credits/debits incurred when holding a trade overnight?

 

[gooseman]

suggest you find out how your account holder/clearer charge. overnight rates/current base etc.

 

[Vrothdar]

Ah, so it's not going to be a one size fits all thing. Disappointing but nevermind, time for some more thinking!

 

[gooseman]

i very much doubt it. depends if you're trading DMA/SB etc. varies from place to place. you could probably use a guesstimate and use an average to get a ball aprk.

 

[Vrothdar]

That sounds like a sensible idea. Is the assumption that overnight interest calculations wouldn't change a great deal from one DMA provider to the next a fair one to make? I'm not that concerned with how a SB company would deal with overnight interest.

 

[gooseman]

look at the guys you clear through and ask them-it depends entirely on company to company. i would have thought it would be much of a muchness.

 

[Vrothdar]

That's the thing, I'm not at the stage of placing any live trades yet.

I'll try contacting a few companies and going from there. Thanks for your help.