Swap Rates

Rollover of positions

The FX Spot market is used for immediate currency trades. The term “Spot” refers to the standard settlement convention of two business days after the trade date (known as T+2). For example, a EURUSD trade executed on a Monday will settle on a Wednesday (if there is not a public holiday in either currency on Tuesday or Wednesday, in which case the trade will be settled on the next available business day). The settlement period refers to the amount of time that is allotted to both parties to satisfy the trade’s obligations. At Saxo, FX Spot trades do not settle. Instead, open positions held at the end of a trading day (17.00 Eastern Standard Time) are rolled forward to the next available business day. The global market convention is that the value date rolls forward at 17.00 Eastern Standard Time, however there are exceptions to this rule e.g. NZD, which rolls forward at 07.00 New Zealand Daylight Time.

The rollover is made up of two components; the Tom/Next swap points (Forward Price) and the financing of unrealised profit/loss (Financing Interest).

1. Tom/Next swap points (Forward Price)
The swap points used are calculated using market swap prices from Tier-1 banks, plus/minus a mark-up corresponding to +/- 0.75% of the Tom/Next interest swap rates. The final rate is used to adjust the opening price of the position.

2. Financing of unrealised profit/loss (Financing Interest)
Any unrealised profit/loss on positions that are rolled from one day to the next are subject to an interest credit or debit. The unrealised profit/loss is calculated as the difference between the opening price of a position (possibly corrected for previous Tom/Next rollovers) and the Spot price at the time that the rollover is performed.

The rate is calculated based on the daily market overnight interest rates plus/minus a mark-up corresponding to +/-2.50%. The final rate is used to adjust the opening price of the position. An additional +/- 0.30% mark-up is applied to Mexican Peso (MXN), Russian Ruble (RUB), Turkish Lira (TRY) and South African Rand (ZAR) currency crosses.

*The standard settlement convention of T+2 is applicable for the majority of currency pairs; however there are exceptions to this rule e.g. USDCAD, which has a settlement convention of one day after the trade date (T+1).

For more information about Historic Swap Rates please see table below:

Forex Cross Value Dates Swap Points
From To Long Positions Short Positions
AUDCAD 08-Apr-2020 09-Apr-2020 0.000024 -0.000031
AUDJPY 08-Apr-2020 09-Apr-2020 0.0014 -0.0026
AUDNZD 08-Apr-2020 09-Apr-2020 0.000042 -0.000024
AUDUSD 08-Apr-2020 09-Apr-2020 0.000018 -0.000016
CADCHF 08-Apr-2020 09-Apr-2020 0.000008 -0.000038
CADJPY 08-Apr-2020 09-Apr-2020 0.0021 -0.0029
CHFJPY 08-Apr-2020 09-Apr-2020 0.0053 -0.0017
CHFNOK 08-Apr-2020 14-Apr-2020 0.002821 -0.000864
EURAUD 08-Apr-2020 09-Apr-2020 0.000086 -0.000019
EURCAD 08-Apr-2020 09-Apr-2020 0.000073 -0.000027
EURCHF 08-Apr-2020 09-Apr-2020 0.000026 -0.00004
EURCZK 08-Apr-2020 09-Apr-2020 0.00192 -0.00005
EURDKK 08-Apr-2020 14-Apr-2020 0.001158 -0.001407
EURGBP 08-Apr-2020 09-Apr-2020 0.000042 -0.000008
EURJPY 08-Apr-2020 09-Apr-2020 0.0047 -0.0025
EURNOK 08-Apr-2020 14-Apr-2020 0.002497 -0.001323
EURSEK 08-Apr-2020 09-Apr-2020 0.000497 -0.000222
EURUSD 08-Apr-2020 09-Apr-2020 0.000053 -0.000009
GBPAUD 08-Apr-2020 09-Apr-2020 0.000054 -0.000056
GBPCAD 08-Apr-2020 09-Apr-2020 0.000044 -0.00006
GBPCHF 08-Apr-2020 09-Apr-2020 0.000004 -0.000066
GBPDKK 08-Apr-2020 14-Apr-2020 0.000203 -0.002461
GBPJPY 08-Apr-2020 09-Apr-2020 0.0024 -0.0051
GBPNOK 08-Apr-2020 14-Apr-2020 0.00117 -0.002797
GBPNZD 08-Apr-2020 09-Apr-2020 0.000079 -0.000045
GBPSEK 08-Apr-2020 09-Apr-2020 0.000294 -0.000462
GBPSGD 08-Apr-2020 09-Apr-2020 0.000102 -0.000013
GBPUSD 08-Apr-2020 09-Apr-2020 0.000034 -0.000031
NOKSEK 08-Apr-2020 14-Apr-2020 0.000204 -0.000158
NZDCAD 08-Apr-2020 09-Apr-2020 0.000018 -0.00004
NZDCHF 08-Apr-2020 09-Apr-2020 0 -0.00004
NZDJPY 08-Apr-2020 09-Apr-2020 0.0009 -0.0033
NZDUSD 08-Apr-2020 09-Apr-2020 0.000014 -0.000023
USDCAD 07-Apr-2020 08-Apr-2020 0.000035 -0.00005
USDCHF 08-Apr-2020 09-Apr-2020 0.000002 -0.000055
USDCZK 08-Apr-2020 09-Apr-2020 0.00119 -0.00051
USDDKK 08-Apr-2020 14-Apr-2020 0.000127 -0.002057
USDJPY 08-Apr-2020 09-Apr-2020 0.0019 -0.0043
USDNOK 08-Apr-2020 14-Apr-2020 0.000895 -0.002357
USDSEK 08-Apr-2020 09-Apr-2020 0.00023 -0.000389
USDSGD 08-Apr-2020 09-Apr-2020 0.000082 -0.000012
NOKJPY 08-Apr-2020 14-Apr-2020 0.00183 -0.00173
USDPLN 08-Apr-2020 09-Apr-2020 0.000278 0.000008
SGDJPY 08-Apr-2020 09-Apr-2020 0 -0.0054
USDZAR 08-Apr-2020 09-Apr-2020 0.003614 0.001374
CHFSEK 08-Apr-2020 09-Apr-2020 0.000545 -0.000147
CHFDKK 08-Apr-2020 14-Apr-2020 0.001402 -0.001072
EURPLN 08-Apr-2020 09-Apr-2020 0.000404 0.000092
USDHKD 08-Apr-2020 09-Apr-2020 0.000429 -0.000055
USDKRW 08-Apr-2020 09-Apr-2020 0.037 -0.033
USDMYR 08-Apr-2020 09-Apr-2020 0.00053 0.00027
USDMXN 08-Apr-2020 13-Apr-2020 0.025636 0.012371
USDPHP 07-Apr-2020 08-Apr-2020 0.01072 0.00427
USDSAR 08-Apr-2020 09-Apr-2020 0.000272 0.000005
USDTHB 08-Apr-2020 09-Apr-2020 0.00612 -0.00288
USDTWD 08-Apr-2020 09-Apr-2020 0.00093 -0.0008
USDIDR 08-Apr-2020 09-Apr-2020 4.64 3.63
USDAED 08-Apr-2020 09-Apr-2020 0.000193 -0.000097
NOKDKK 08-Apr-2020 14-Apr-2020 0.000061 -0.000153
SEKDKK 08-Apr-2020 14-Apr-2020 0.000064 -0.000191
EURHUF 08-Apr-2020 09-Apr-2020 0.0212 -0.0087
EURNZD 08-Apr-2020 09-Apr-2020 0.000109 -0.000009
EURZAR 08-Apr-2020 09-Apr-2020 0.004371 0.001856
USDBRL 08-Apr-2020 09-Apr-2020 0.00224 -0.000122
USDHUF 08-Apr-2020 09-Apr-2020 0.012 -0.0142
USDINR 08-Apr-2020 09-Apr-2020 0.011474 0.006871
USDCNY 08-Apr-2020 09-Apr-2020 0.00054 -0.000191
SEKJPY 08-Apr-2020 09-Apr-2020 0.00032 -0.00039
EURMXN 08-Apr-2020 14-Apr-2020 0.036964 0.019008
CADDKK 08-Apr-2020 14-Apr-2020 0.000368 -0.001418
AUDDKK 08-Apr-2020 14-Apr-2020 0.000151 -0.001255
NZDDKK 08-Apr-2020 14-Apr-2020 -0.000003 -0.001513
PLNJPY 08-Apr-2020 09-Apr-2020 -0.00028 -0.00205
PLNDKK 08-Apr-2020 14-Apr-2020 -0.000246 -0.000885
HKDDKK 08-Apr-2020 14-Apr-2020 -0.000085 -0.000421
SGDDKK 08-Apr-2020 14-Apr-2020 -0.000431 -0.002338
DKKJPY 08-Apr-2020 14-Apr-2020 0.00385 -0.00151
USDILS 08-Apr-2020 10-Apr-2020 0.000116 -0.000444
EURSGD 08-Apr-2020 09-Apr-2020 0.000124 0.000015
AUDCHF 08-Apr-2020 09-Apr-2020 0.000003 -0.000034
GBPZAR 08-Apr-2020 09-Apr-2020 0.004458 0.00172
AUDHKD 08-Apr-2020 09-Apr-2020 0.000278 -0.000032
GBPHKD 08-Apr-2020 09-Apr-2020 0.000535 -0.000055
NZDNOK 08-Apr-2020 14-Apr-2020 0.000418 -0.001832
EURHKD 08-Apr-2020 09-Apr-2020 0.000656 0.000094
CADNOK 08-Apr-2020 14-Apr-2020 0.001053 -0.001609
CHFPLN 08-Apr-2020 09-Apr-2020 0.000413 0.000113
GBPHUF 08-Apr-2020 09-Apr-2020 0.0151 -0.0169
EURAED 08-Apr-2020 09-Apr-2020 0.000299 -0.000032
EURSAR 08-Apr-2020 09-Apr-2020 0.000388 0.00008
XAUUSD 08-Apr-2020 09-Apr-2020 0.1089 -0.0116
XAGUSD 08-Apr-2020 09-Apr-2020 0.001173 -0.000026
NZDSGD 08-Apr-2020 09-Apr-2020 0.000047 -0.000017
GBPPLN 08-Apr-2020 09-Apr-2020 0.000346 0.000016
HKDJPY 08-Apr-2020 09-Apr-2020 -0.000029 -0.000955
USDRUB 07-Apr-2020 08-Apr-2020 0.015128 0.007711
AUDCZK 08-Apr-2020 09-Apr-2020 0.00078 -0.00031
AUDHUF 08-Apr-2020 09-Apr-2020 0.008 -0.0087
AUDPLN 08-Apr-2020 09-Apr-2020 0.000179 0.000006
AUDSGD 08-Apr-2020 09-Apr-2020 0.000053 -0.000007
CHFCZK 08-Apr-2020 09-Apr-2020 0.002 0.00011
CHFHUF 08-Apr-2020 09-Apr-2020 0.0226 -0.0062
CHFZAR 08-Apr-2020 09-Apr-2020 0.004272 0.001872
DKKCZK 08-Apr-2020 14-Apr-2020 0.00156 0.00006
DKKHUF 08-Apr-2020 14-Apr-2020 0.0173 -0.0056
DKKTHB 08-Apr-2020 14-Apr-2020 0.006 -0.0019
DKKZAR 08-Apr-2020 14-Apr-2020 0.00353 0.001569
EURTHB 08-Apr-2020 09-Apr-2020 0.00744 -0.00246
GBPCZK 08-Apr-2020 09-Apr-2020 0.00149 -0.00059
GBPTHB 08-Apr-2020 09-Apr-2020 0.007548 -0.003476
NZDCZK 08-Apr-2020 09-Apr-2020 0.00067 -0.00048
NZDHUF 08-Apr-2020 09-Apr-2020 0.0066 -0.0108
NZDPLN 08-Apr-2020 09-Apr-2020 0.000159 -0.000024
NZDSEK 08-Apr-2020 09-Apr-2020 0.000119 -0.000302
NZDTHB 08-Apr-2020 09-Apr-2020 0.003601 -0.001944
EURTRY 08-Apr-2020 09-Apr-2020 0.002532 0.001371
USDTRY 07-Apr-2020 08-Apr-2020 0.002183 0.001141
GBPAED 08-Apr-2020 09-Apr-2020 0.0003 -0.0002
GBPMXN 08-Apr-2020 14-Apr-2020 0.037941 0.018492
XAUEUR 08-Apr-2020 09-Apr-2020 0.0725 -0.0456
XAUJPY 08-Apr-2020 09-Apr-2020 10.2 -3.57
XAGEUR 08-Apr-2020 09-Apr-2020 0.000825 -0.000346
XAGJPY 08-Apr-2020 09-Apr-2020 0.1124 -0.0241
XAUAUD 08-Apr-2020 09-Apr-2020 0.1756 -0.0265
PLNSEK 08-Apr-2020 09-Apr-2020 -0.000012 -0.000189
XAGAUD 08-Apr-2020 09-Apr-2020 0.0019 -0.0002
ZARJPY 08-Apr-2020 09-Apr-2020 -0.0004 -0.0013
SGDPLN 08-Apr-2020 09-Apr-2020 0.000142 -0.000086
TRYDKK 08-Apr-2020 14-Apr-2020 -0.001172 -0.002116
XAGHKD 08-Apr-2020 09-Apr-2020 0.012543 0.002063
XAUHKD 08-Apr-2020 09-Apr-2020 1.2188 0.1561
AUDTRY 08-Apr-2020 09-Apr-2020 0.001356 0.000705
CADTRY 07-Apr-2020 08-Apr-2020 0.001599 0.00082
CHFTRY 08-Apr-2020 09-Apr-2020 0.002445 0.001339
CHFSGD 08-Apr-2020 09-Apr-2020 0.000128 0.000023
GBPTRY 08-Apr-2020 09-Apr-2020 0.00269 0.001414
NZDTRY 08-Apr-2020 09-Apr-2020 0.001296 0.000639
NZDZAR 08-Apr-2020 09-Apr-2020 0.002129 0.000699
MXNJPY 08-Apr-2020 13-Apr-2020 -0.002438 -0.004913
TRYJPY 08-Apr-2020 09-Apr-2020 -0.0028 -0.0055
AUDZAR 08-Apr-2020 09-Apr-2020 0.002256 0.000852
CADPLN 08-Apr-2020 09-Apr-2020 0.000226 0.00001
CADMXN 08-Apr-2020 13-Apr-2020 0.01906 0.008951
SGDHKD 08-Apr-2020 09-Apr-2020 0.000203 -0.000207
AUDSEK 08-Apr-2020 09-Apr-2020 0.000159 -0.000237
USDRON 08-Apr-2020 09-Apr-2020 0.001299 0.000268
EURRON 08-Apr-2020 09-Apr-2020 0.001517 0.000379
GBPILS 08-Apr-2020 14-Apr-2020 0.00045 -0.0016
ILSDKK 08-Apr-2020 14-Apr-2020 0.00045 -0.00046
MXNDKK 08-Apr-2020 14-Apr-2020 -0.000236 -0.000364
NZDMXN 08-Apr-2020 14-Apr-2020 0.018146 0.007908
AUDNOK 08-Apr-2020 14-Apr-2020 0.00066 -0.001433
CHFMXN 08-Apr-2020 14-Apr-2020 0.036059 0.018904
AUDMXN 08-Apr-2020 14-Apr-2020 0.019189 0.009192
EURRUB 08-Apr-2020 09-Apr-2020 0.018202 0.00983
SARDKK 08-Apr-2020 14-Apr-2020 -0.000268 -0.001054
XAGDKK 08-Apr-2020 14-Apr-2020 0.033921 -0.015989
XAUDKK 08-Apr-2020 14-Apr-2020 1.636 -2.6297
CZKPLN 08-Apr-2020 09-Apr-2020 0.00001 -0.000003
PLNHUF 08-Apr-2020 09-Apr-2020 0.0006 -0.0066
CADSEK 08-Apr-2020 09-Apr-2020 0.000231 -0.000266
HUFJPY 08-Apr-2020 09-Apr-2020 0.000011 -0.000016
TRYZAR 08-Apr-2020 09-Apr-2020 -0.000046 -0.000566
XAUGBP 08-Apr-2020 09-Apr-2020 0.0869 -0.0107
EURILS 08-Apr-2020 14-Apr-2020 0.000905 -0.001014
AUDILS 08-Apr-2020 14-Apr-2020 0.000251 -0.000813
CHFHKD 08-Apr-2020 09-Apr-2020 0.000677 0.000138
CHFILS 08-Apr-2020 14-Apr-2020 0.001173 -0.000233
CZKHKD 08-Apr-2020 09-Apr-2020 0.000015 -0.000009
CZKNOK 08-Apr-2020 14-Apr-2020 0.000021 -0.000143
CZKSEK 08-Apr-2020 09-Apr-2020 0.000007 -0.000024
CZKSGD 08-Apr-2020 09-Apr-2020 0.000001 -0.000003
CZKZAR 08-Apr-2020 09-Apr-2020 0.000126 0.000051
HKDHUF 08-Apr-2020 09-Apr-2020 0.000713 -0.003085
HKDMXN 08-Apr-2020 14-Apr-2020 0.003289 0.001678
HKDNOK 08-Apr-2020 14-Apr-2020 -0.000036 -0.000537
HKDNZD 08-Apr-2020 09-Apr-2020 0.000004 -0.000012
HKDPLN 08-Apr-2020 09-Apr-2020 0.000026 -0.000015
HKDSEK 08-Apr-2020 09-Apr-2020 0.000005 -0.000088
HKDZAR 08-Apr-2020 09-Apr-2020 0.000381 0.000147
HUFCZK 08-Apr-2020 09-Apr-2020 0.000005 -0.000003
HUFMXN 08-Apr-2020 14-Apr-2020 0.000092 0.000047
HUFNOK 08-Apr-2020 14-Apr-2020 0.000006 -0.000009
HUFSEK 08-Apr-2020 09-Apr-2020 0.000002 -0.000002
HUFSGD 08-Apr-2020 09-Apr-2020 0.000001 -0.000001
HUFZAR 08-Apr-2020 09-Apr-2020 0.000011 0.000004
ILSJPY 08-Apr-2020 10-Apr-2020 0.001299 -0.002596
ILSNZD 08-Apr-2020 14-Apr-2020 0.00009 -0.00009
NOKPLN 08-Apr-2020 14-Apr-2020 0.000191 0.000033
NOKSGD 08-Apr-2020 14-Apr-2020 0.000058 0.000002
NOKZAR 08-Apr-2020 14-Apr-2020 0.002053 0.001103
SEKSGD 08-Apr-2020 09-Apr-2020 0.00001 -0.000001
SEKZAR 08-Apr-2020 09-Apr-2020 0.000352 0.000173
SGDZAR 08-Apr-2020 09-Apr-2020 0.002082 0.000774
XAGGBP 08-Apr-2020 09-Apr-2020 0.000939 -0.000033
CZKJPY 08-Apr-2020 09-Apr-2020 0.000047 -0.000255
NOKTRY 08-Apr-2020 14-Apr-2020 0.001251 0.000775
SEKTRY 08-Apr-2020 09-Apr-2020 0.000215 0.000126
TRYCZK 08-Apr-2020 09-Apr-2020 -0.000622 -0.001132
AUDCNH 08-Apr-2020 09-Apr-2020 0.00019 -0.000077
CADCNH 08-Apr-2020 09-Apr-2020 0.000252 -0.000084
CHFCNH 08-Apr-2020 09-Apr-2020 0.000512 0.000046
EURCNH 08-Apr-2020 09-Apr-2020 0.000486 0.000002
GBPCNH 08-Apr-2020 09-Apr-2020 0.000361 -0.000146
HKDCNH 08-Apr-2020 09-Apr-2020 0.00002 -0.000044
NOKCNH 08-Apr-2020 14-Apr-2020 0.000217 -0.000027
NZDCNH 08-Apr-2020 09-Apr-2020 0.000159 -0.000125
SEKCNH 08-Apr-2020 09-Apr-2020 0.000038 -0.000011
USDCNH 08-Apr-2020 09-Apr-2020 0.000288 -0.000128
CNHJPY 08-Apr-2020 09-Apr-2020 0.000137 -0.00082
XAUTHB 08-Apr-2020 09-Apr-2020 12.3 -3.73
XAUTRY 08-Apr-2020 09-Apr-2020 4.0872 2.1216
XPTUSD 08-Apr-2020 09-Apr-2020 0.0394 -0.1215
CHFRON 08-Apr-2020 09-Apr-2020 0.001468 0.000386
XAUCHF 08-Apr-2020 09-Apr-2020 0.0667 -0.0599
XAGCHF 08-Apr-2020 09-Apr-2020 0.00078 -0.000473
XAUXAG 08-Apr-2020 09-Apr-2020 0.0045 -0.0063
XPTEUR 08-Apr-2020 09-Apr-2020 0.0237 -0.1279
USDCLP 07-Apr-2020 08-Apr-2020 0.1456 0.096
XPTDKK 08-Apr-2020 14-Apr-2020 0 -1.7479
CNHDKK 08-Apr-2020 14-Apr-2020 -0.000029 -0.000375
XAURUB 08-Apr-2020 09-Apr-2020 30.0108 15.1793
XPTZAR 08-Apr-2020 09-Apr-2020 3.07 -0.87
CADSGD 08-Apr-2020 09-Apr-2020 0.000068 -0.000007
XAUCNH 08-Apr-2020 09-Apr-2020 0.941 0.013
CADHKD 08-Apr-2020 09-Apr-2020 0.000357 -0.000031
AUDAED 08-Apr-2020 09-Apr-2020 0.000124 -0.000058
CADRON 08-Apr-2020 09-Apr-2020 0.000955 0.000196
CHFRUB 08-Apr-2020 09-Apr-2020 0.016502 0.011079
GBPRON 08-Apr-2020 09-Apr-2020 0.001601 0.000337
CADCZK 08-Apr-2020 09-Apr-2020 0.00102 -0.00034
CADHUF 08-Apr-2020 09-Apr-2020 0.0108 -0.0098
GBPRUB 08-Apr-2020 09-Apr-2020 0.017138 0.011166
RUBDKK 08-Apr-2020 14-Apr-2020 -0.000077 -0.000112
NOKRON 08-Apr-2020 14-Apr-2020 0.000788 0.000186
DKKAED 08-Apr-2020 14-Apr-2020 0.000243 -0.000011
USDCOP 07-Apr-2020 08-Apr-2020 0.1228 -0.1062
USDPEN 08-Apr-2020 09-Apr-2020 0.000106 -0.000092
ZARAED 08-Apr-2020 09-Apr-2020 -0.000012 -0.000035
CADZAR 08-Apr-2020 09-Apr-2020 0.002479 0.001217
PLNZAR 08-Apr-2020 09-Apr-2020 0.000665 0.000224
JPYAED 08-Apr-2020 09-Apr-2020 0.000003 -0.000001
NOKAED 08-Apr-2020 14-Apr-2020 0.000136 -0.000031
CZKRUB 08-Apr-2020 09-Apr-2020 0.000526 0.00029
SGDAED 08-Apr-2020 09-Apr-2020 0.000089 -0.000148
SGDCNH 08-Apr-2020 09-Apr-2020 0.000112 -0.000244
PLNRUB 08-Apr-2020 09-Apr-2020 0.002796 0.001415
XAUSGD 08-Apr-2020 09-Apr-2020 0.2292 0.0261
ZARMXN 08-Apr-2020 14-Apr-2020 0.000599 -0.000278
XAUNZD 08-Apr-2020 09-Apr-2020 0.2131 -0.0105
XAGCNH 08-Apr-2020 09-Apr-2020 0.00987 0.000692