CLOSE OF BUSINESS ACCOUNTING. 13.1 Daily Swaps of Contracts (other than Futures CFDs) When you hold a Position or Positions overnight (other than an Futures CFDs) they will be rolled to the next Business Day which will result in you paying a Swap Charge or receiving a Swap Benefit. The amount is determined by us and depends on our Swap Rate, being the rates at which you receive or pay interest on Positions that remain open overnight. This is a varying rate dependent upon the applicable rate in the Interbank Rates for the currencies or Bullion, the duration of the rollover period and the size of the Position. No Swap Charge is paid or Swap Benefit is received in the case of Futures CFDs. Whether you receive a Swap Benefit will depend on prevailing interest rates in the Interbank Market as adjusted for our margin requirement with and the interest rate charged by our hedging counterparty. Swap Charges and Swap Benefits will be accrued in the swap value field of your open Contracts. In the event there are insufficient funds in your Account, any amount due to us because of the Swap Charges becomes a debt due and owing by you to us.
Appears in 5 contracts
Samples: Client Agreement, Client Agreement, Client Agreement
