What is a swap rate?
Swap rates, also known as overnight or rollover rates, are debits or credits, either earned or paid for holding a position overnight. Swissquote settles overnight positions at 23:00 CET using the applicable formula and swap rates table below.
What is a Cash Adjustment?
When any underlying stock that is part of an Spot Stock Index goes ex-dividend, the Spot Stock Index will be price adjusted to reflect this dividend. The weighted proportion of the applicable dividend within the Spot Stock Index will be credited (Long Positions) or debited (Short Positions) as a cash adjustment on your account on the Ex-date reflecting the market price movement on the Ex-dividend date. Only open positions held overnight on ex-dividend date are subject to dividend cash adjustments.
Please note: Spot Germany 30 is a Total Return Index, meaning the index is automatically adjusted for dividends.
Calculation Example:AUDJPY Short/Long Swap Rate: -0.00784983 / 0.00455597
Position: Sell 100,000 AUDJPY
AUDJPY Exchange Rate: 96.553
|Client Position||Negative Swap Rate||Positive Swap Rate|
|Long||You Receive||You Pay|
|Short||You Pay||You Receive|
MetaTrader Swap Formula:
(Base Amount * Short Swap Rate) / AUDJPY exchange rate)
(100,000 * - 0.00784983) / 96.553 = You pay 8.13 AUD
Advanced Trader Swap Formula:
(Base Amount * Short Swap Rate)
(100,000 * - 0.00784983)= You pay 784.98 JPY
Swissquote applies a triple swap on Wednesday 23:00 CETto account for weekend rollovers. There are some exceptions to this rule:
- Triple swap rollovers will be applied Thursday 23:00 CET for USDCAD, USDTRY and USDRUB.
- Triple swap rollovers will be applied Friday 23:00 CET for CUCUSD, LCOUSD, NGCUSD, OILUSD, DAXEUR, ESXEUR, SMICHF #CH, #SP500, #NAS100, #GB100, #EU50, #DJ30, #DE30, #FR40 and #ES.