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HouseFx - Roll Over Policy
Rollover Policy

Rollover Policy

Definition

Rollover, also known as Swap or Overnight Fee, is an interest paid or earned as a result of holding a position open overnight on a Derivative. HouseFx Rollover Policy is aimed to establish and maintain a fair fee across all the tradable securities and asset classes. Throughout most of the available securities, apart from Forex, Gold and Cryptos, the rollover fee constitutes of an internal interest fee plus or minus the rollover fee we gather from the counterparties we collaborate with for that respective security. For the remaining instruments, due to their volatility, the final fee also considers an internal market and risk analysis conducted by the company. Rollover fees are assessed on a continuous basis and amended when needed.

Rollover Calculation - Example
Rollover Debit Simulation
Account Base Currency: EUR
Security: USA100 (Nasdaq)
Position Size: 1 lot (1 Contract)
Side: Buy (Long)
Currency Rate: EURUSD
Rollover Fee Formula = Position Size * (Counterparty Fee * Internal Interest Fee) * Pip Value) / Currency Rate
Calculation: 1 * (-0.70 * 1.30) * 1.00 / 1.1610 = $-0.78

Rollover Credit Simulation
Account Base Currency: USD
Security: GBPUSD
Position Size: 0.50 Lots (50,000)
Side: Sell (Short)
Currency Rate: USD
Rollover Fee Formula = Position Size * (Counterparty Fee * Internal Interest Fee) * Pip Value) / Currency Rate
Calculation: 0.50 * (0.45 * 0.70) * 10.00 / 1 = $1.57

Shares Rollover and Dividend Pay-out

Shares rollover fees are derived from the underlying value of the contract times the interbank LIBOR rates, +/- internal interest fees. The calculation is based upon 365 days of trading for UK shares and 360 for all other offered shares.

Shares Calculation - Example
Share Rollover Simulation
Account Base Currency: USD
Account Quote Currency: USD
Security: FaceBook
Position Size: 1 lot = Contract Size 100 Shares
Side: Buy (LONG)
Share Rollover Formula: (Notional value * (LIBOR +/- Internal Interest Fee))/360)
Calculation: (20,000 * (2.24% + 2.15%) ) / 360 = -$2.44)

Due to a stock share's price adjustment on dividends pay outs, the rollover fee will be adjusted to make up for the correction of the share prices during that day.

The day after the dividends are paid the shares rollover fee usually goes back to the initial fixed rate.

Dividends Calculation - Example
Dividend Adjustment Simulation
Account Base Currency: USD
Account Quote Currency: USD
Security: Goldman Sachs
Position Size: 1 lot = Contract Size 100 Shares
Side: Sell (Short)
Ex-dividend amount: 0.80 USD (per share)
Dividend Adjustment Formula: Contract Size * (Dividend amount * Internal Interest Fee)
Calculation: 100 * (0.80 * -1.30) = -104 USD

Rollover Charging Schedule

The beginning and end of the trading day is considered to be 00:00 by our servers. Any position left open at 00:00 (server time) is considered to be held overnight and is subject to rollover fees. A position opened at 00:01 (server time) is not subject to rollover until the next day, while a position opened at 23:59 (server time) is subject to rollover at 00:00 (server time).

A credit or debit for each position opened at 00:00 will appear in your account, it is applied directly to the trade via the swap field and reflects automatically into your account balance.

Server Times

  • GMT+3: Last Sunday of March to Last Sunday of October
  • GMT+2: Last Sunday of October to Last Sunday of March

Weekends and Public Holidays

Despite markets are mostly closed during weekend and local public holidays, interests remain applicable for positions held during those periods. To measure for this, weekend rollover fees are computed and applied for three days on Wednesdays, which makes a typical Wednesday rollover three times the amount. Please note that for indices instruments triple swap is applied on Friday instead.

Triple Swap - Example
Rollover Credit Simulation for Wednesday
Account Base Currency: USD
Security: GBPUSD
Position Size: 0.50 Lots (50,000)
Side: Sell (Short)
Currency Rate: USD
Triple Rollover Fee Formula = (Position Size * (Counterparty Fee * Internal Interest Fee) * Pip Value) / Currency Rate) * 3
Calculation: (0.50 * (0.45 * 0.70) * 10.00 / 1) * 3 = $4,71

As per the above, rollover fees are also applied as usual for all instruments during public holidays no matter whether the instrument is tradable or not during that day.



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