Rolling over a position to a new value date results in an adjustment to the opening price (up or down).
The rollover debit or credit is the sum of "Swap Points" interest on any unrealised profits or losses.
The FOREX positions open from 17h New York time will be subject to rollover with a new value date, based on the Tom / Next rate. As part of this rollover the open positions will be adjusted with the credit or debit of swap points. The swap points are calculated based on the swap information of a Tier1 bank (banks with global exposure and with more than 50.000 transactions per day), provided by Saxo Bank, plus a spread of +/- 0.60% of overnight interest rate, with an additional spread of +/- 0.75% for open positions and for unrealized gains and losses.
The swap points are calculated according to the Saxo Bank proprietary Tom / Next swap rate that takes into account several factors, including the interest rate differential between currencies and the Tom / Next rate provided by the Tier 1 bank. The rollover cost will occur during the number of days that the client holds the open position.
If the client holds opposite positions, but open positions due to related orders, DIF Broker informs that rollover costs will be charged on all open positions not netting the positions.
For the calculation of the swap rate, the negative Libor rates will be considered, if applicable.
For currency pairs subject to special market conditions, the Tom Next rate applied will be the one from 8:15 CET.