Common use of ROLLOVER (SWAP) AND OFFSET INSTRUCTIONS Clause in Contracts

ROLLOVER (SWAP) AND OFFSET INSTRUCTIONS. 43.1 Rollover (Swap) is the process of extending the settlement date of an open position (i.e. date by which an executed trade must be settled). The forex and Over-The-Counter CFD markets allow two business days for settling all spot trades, which implies the physical delivery of currencies. In margin trading, however, there is no physical delivery, so all open positions must be closed daily at end-of-day (00:00 CET) and re-opened on the following trading day. This pushes out the settlement by one more trading day. This strategy is called rollover (swap). 43.2 Rollover (Swap) is agreed on through a swap contract which comes at a cost or at a gain for traders. We do not close and re-open positions, but will charge you a fee in respect of each such position and debit/credit your trading Accounts for positions held open overnight, depending on the current interest rates (LIBOR/LIBID with or without added mark-up) (“Rollover Fee” or “Swap”). As 00:00 CET is considered to be the beginning and the end of a trading day, any positions which are still open at 00:00 CET sharp are subject to rollover (swap) and will be held overnight. Positions opened at 00:01 are not subject to rollover until the next day, but if you open a position at 23:59, a rollover will take place at 00:00 CET. Rollover (Swap) fee is charged triple for transactions extended from Wednesday to Thursday. 43.3 The Rollover (Swap) Fees that we charge will be published on our Online Trading Facility. We shall attempt to collect such Rollover (Swap) Fees from your Account with us. In the event that we are unable to collect such Rollover (Swap) Fee(s) from your Account with us, we reserve the right to close part, or all, of your open positions as per our Order Execution Policy. You shall be liable for promptly paying all Rollover (Swap) Fees(s), even if all Margin previously deposited by you has been lost.

ROLLOVER (SWAP) AND OFFSET INSTRUCTIONS. ‌ 43.1 Rollover (Swap) is the process of extending the settlement date of an open position (i.e. date by which an executed trade must be settled). The forex and Over-The-Counter CFD markets allow two business days for settling all spot trades, which implies the physical delivery of currencies. In margin trading, however, there is no physical delivery, so all open positions must be closed daily at end-of-day (00:00 CET) and re-opened on the following trading day. This pushes out the settlement by one more trading day. This strategy is called rollover (swap). 43.2 Rollover (Swap) is agreed on through a swap contract which comes at a cost or at a gain for traders. We do not close and re-open positions, but will charge you a fee in respect of each such position and debit/credit your trading Accounts for positions held open overnight, depending on the current interest rates (LIBOR/LIBID with or without added mark-up) (“Rollover Fee” or “Swap”). As 00:00 CET is considered to be the beginning and the end of a trading day, any positions which are still open at 00:00 CET sharp are subject to rollover (swap) and will be held overnight. Positions opened at 00:01 are not subject to rollover until the next day, but if you open a position at 23:59, a rollover will take place at 00:00 CET. Rollover (Swap) fee is charged triple for transactions extended from Wednesday to Thursday. 43.3 The Rollover (Swap) Fees that we charge will be published on our Online Trading Facility. We shall attempt to collect such Rollover (Swap) Fees from your Account with us. In the event that we are unable to collect such Rollover (Swap) Fee(s) from your Account with us, we reserve the right to close part, or all, of your open positions as per our Order Execution Policy. You shall be liable for promptly paying all Rollover (Swap) Fees(s), even if all Margin previously deposited by you has been lost.