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 Swap Points used are based on a Tom/Next swap feed from a Tier-1 bank with a mark-up corresponding to +/- 0.45% of daily market overnight interest rates, plus the interest component described under 'Interest on unrealised Profit and Loss' below.
The accumulated swap points and interest component are added or deducted to the previous opening price of the position.
To provide full transparency to clients Saxo Group publishes once a day the swap points used for the tom/next rollover. See 'Historic Swap points' below.
Any unrealised profits or losses on the Forex spot position being rolled from one day to the next are subject to an interest credit or debit. These are added to the swap points to calculate the rollover credit or debit.
The unrealised profits or losses are calculated as the difference between the original traded rate (possibly adjusted for previous Tom/Next rollovers) and the end of day rate of the traded currency cross at 17:00 Eastern Standard Time (New York time).
For currencies subject to special market conditions the rate of the traded currency cross at 08:15 CET will be applied.
Historic swap points
Forex is categorised as a red product as it is considered an investment product with a high complexity and a high risk.
Saxo Capital Markets is required to categorise investment products offered to retail clients depending on the product’s complexity and risk as: green, yellow or red. Please refer to our "Product Risk Categorisation".