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 02-Jul-2020 03-Jul-2020 0.000031 -0.000024
AUDJPY 02-Jul-2020 03-Jul-2020 0.0019 -0.002
AUDNZD 02-Jul-2020 03-Jul-2020 0.000028 -0.00003
AUDUSD 02-Jul-2020 03-Jul-2020 0.000026 -0.000011
CADCHF 02-Jul-2020 03-Jul-2020 0.000006 -0.000035
CADJPY 02-Jul-2020 03-Jul-2020 0.002 -0.0027
CHFJPY 02-Jul-2020 03-Jul-2020 0.0049 -0.0011
CHFNOK 02-Jul-2020 03-Jul-2020 0.000514 -0.000017
EURAUD 02-Jul-2020 03-Jul-2020 0.000059 -0.000025
EURCAD 02-Jul-2020 03-Jul-2020 0.000064 -0.000023
EURCHF 02-Jul-2020 03-Jul-2020 0.00002 -0.000035
EURCZK 02-Jul-2020 03-Jul-2020 0.00145 -0.00058
EURDKK 02-Jul-2020 03-Jul-2020 0.000343 -0.000078
EURGBP 02-Jul-2020 03-Jul-2020 0.000037 -0.000009
EURJPY 02-Jul-2020 03-Jul-2020 0.0042 -0.002
EURNOK 02-Jul-2020 03-Jul-2020 0.000464 -0.000089
EURSEK 02-Jul-2020 03-Jul-2020 0.000379 -0.000146
EURUSD 02-Jul-2020 03-Jul-2020 0.000053 -0.000005
GBPAUD 02-Jul-2020 03-Jul-2020 0.000036 -0.000056
GBPCAD 02-Jul-2020 03-Jul-2020 0.000044 -0.000051
GBPCHF 02-Jul-2020 03-Jul-2020 0.000003 -0.000057
GBPDKK 02-Jul-2020 03-Jul-2020 0.000246 -0.000215
GBPJPY 02-Jul-2020 03-Jul-2020 0.0025 -0.0043
GBPNOK 02-Jul-2020 03-Jul-2020 0.00032 -0.000285
GBPNZD 02-Jul-2020 03-Jul-2020 0.000038 -0.000062
GBPSEK 02-Jul-2020 03-Jul-2020 0.000232 -0.000342
GBPSGD 02-Jul-2020 03-Jul-2020 0.000056 -0.000036
GBPUSD 02-Jul-2020 03-Jul-2020 0.000039 -0.000025
NOKSEK 02-Jul-2020 03-Jul-2020 0.000019 -0.000031
NZDCAD 02-Jul-2020 03-Jul-2020 0.00003 -0.000022
NZDCHF 02-Jul-2020 03-Jul-2020 0.000007 -0.000027
NZDJPY 02-Jul-2020 03-Jul-2020 0.0019 -0.0019
NZDUSD 02-Jul-2020 03-Jul-2020 0.000025 -0.00001
USDCHF 02-Jul-2020 03-Jul-2020 -0.000002 -0.000052
USDCZK 02-Jul-2020 03-Jul-2020 0.0008 -0.00103
USDDKK 02-Jul-2020 03-Jul-2020 0.000168 -0.000214
USDJPY 02-Jul-2020 03-Jul-2020 0.0015 -0.0041
USDNOK 02-Jul-2020 03-Jul-2020 0.000214 -0.000289
USDSEK 02-Jul-2020 03-Jul-2020 0.000144 -0.000333
USDSGD 02-Jul-2020 03-Jul-2020 0.000039 -0.000037
NOKJPY 02-Jul-2020 03-Jul-2020 0.0002 -0.00038
USDPLN 02-Jul-2020 03-Jul-2020 0.000094 -0.000134
SGDJPY 02-Jul-2020 03-Jul-2020 0.0012 -0.0031
USDZAR 02-Jul-2020 03-Jul-2020 0.00303 0.001107
CHFSEK 02-Jul-2020 03-Jul-2020 0.000432 -0.000073
CHFDKK 02-Jul-2020 03-Jul-2020 0.000376 -0.000028
EURPLN 02-Jul-2020 03-Jul-2020 0.000197 -0.000053
USDKRW 02-Jul-2020 03-Jul-2020 0.0356 -0.0337
USDMYR 02-Jul-2020 03-Jul-2020 0.000518 0.000263
USDMXN 02-Jul-2020 03-Jul-2020 0.004029 0.001786
USDPHP 01-Jul-2020 02-Jul-2020 0.01062 0.00421
USDSAR 02-Jul-2020 06-Jul-2020 0.001047 -0.000538
USDTHB 02-Jul-2020 03-Jul-2020 0.00077 -0.01228
USDTWD 02-Jul-2020 03-Jul-2020 0.00089 -0.00081
USDIDR 02-Jul-2020 03-Jul-2020 3.92 3.07
USDAED 02-Jul-2020 06-Jul-2020 0.00076 -0.0004
NOKDKK 02-Jul-2020 03-Jul-2020 0.000021 -0.00002
SEKDKK 02-Jul-2020 03-Jul-2020 0.000025 -0.000016
EURHUF 02-Jul-2020 03-Jul-2020 0.0214 0.0006
EURNZD 02-Jul-2020 03-Jul-2020 0.000062 -0.000029
EURZAR 02-Jul-2020 03-Jul-2020 0.003805 0.001668
USDBRL 02-Jul-2020 03-Jul-2020 0.002218 -0.000126
USDHUF 02-Jul-2020 03-Jul-2020 0.0125 -0.0064
USDINR 02-Jul-2020 03-Jul-2020 0.011388 0.006794
SEKJPY 02-Jul-2020 03-Jul-2020 0.00028 -0.00032
EURMXN 02-Jul-2020 03-Jul-2020 0.005059 0.00257
CADDKK 02-Jul-2020 03-Jul-2020 0.000174 -0.000134
AUDDKK 02-Jul-2020 03-Jul-2020 0.000166 -0.000097
NZDDKK 02-Jul-2020 03-Jul-2020 0.000161 -0.00009
PLNJPY 02-Jul-2020 03-Jul-2020 0.00059 -0.00096
PLNDKK 02-Jul-2020 03-Jul-2020 0.000055 -0.00005
SGDDKK 02-Jul-2020 03-Jul-2020 0.000123 -0.000162
DKKJPY 02-Jul-2020 03-Jul-2020 0.00033 -0.0006
USDILS 02-Jul-2020 03-Jul-2020 0.000042 -0.000172
EURSGD 02-Jul-2020 03-Jul-2020 0.000076 -0.000008
AUDCHF 02-Jul-2020 03-Jul-2020 0.000006 -0.000029
GBPZAR 02-Jul-2020 03-Jul-2020 0.003848 0.001504
NZDNOK 02-Jul-2020 03-Jul-2020 0.000214 -0.000116
CADNOK 02-Jul-2020 03-Jul-2020 0.000231 -0.000179
CHFPLN 02-Jul-2020 03-Jul-2020 0.000218 -0.000023
GBPHUF 02-Jul-2020 03-Jul-2020 0.0173 -0.0055
EURAED 02-Jul-2020 06-Jul-2020 0.001194 -0.00009
EURSAR 02-Jul-2020 06-Jul-2020 0.001524 -0.000237
XAUUSD 02-Jul-2020 03-Jul-2020 0.0843 -0.0308
XAGUSD 02-Jul-2020 03-Jul-2020 0.000832 -0.00035
NZDSGD 02-Jul-2020 03-Jul-2020 0.000036 -0.000014
GBPPLN 02-Jul-2020 03-Jul-2020 0.000139 -0.000135
AUDCZK 02-Jul-2020 03-Jul-2020 0.00073 -0.00053
AUDHUF 02-Jul-2020 03-Jul-2020 0.011 -0.002
AUDPLN 02-Jul-2020 03-Jul-2020 0.000094 -0.000062
AUDSGD 02-Jul-2020 03-Jul-2020 0.000038 -0.000015
CHFCZK 02-Jul-2020 03-Jul-2020 0.00156 -0.00038
CHFHUF 02-Jul-2020 03-Jul-2020 0.0227 0.0027
CHFZAR 02-Jul-2020 03-Jul-2020 0.003719 0.001688
DKKCZK 02-Jul-2020 03-Jul-2020 0.00015 -0.00016
DKKHUF 02-Jul-2020 03-Jul-2020 0.0022 -0.001
DKKTHB 02-Jul-2020 03-Jul-2020 0.0002 -0.0019
DKKZAR 02-Jul-2020 03-Jul-2020 0.000473 0.000168
EURTHB 02-Jul-2020 03-Jul-2020 0.00159 -0.01303
GBPCZK 02-Jul-2020 03-Jul-2020 0.00113 -0.0011
GBPTHB 02-Jul-2020 03-Jul-2020 0.001128 -0.014961
NZDCZK 02-Jul-2020 03-Jul-2020 0.00071 -0.00049
NZDHUF 02-Jul-2020 03-Jul-2020 0.0106 -0.0018
NZDPLN 02-Jul-2020 03-Jul-2020 0.000092 -0.000057
NZDSEK 02-Jul-2020 03-Jul-2020 0.000166 -0.000146
NZDTHB 02-Jul-2020 03-Jul-2020 0.000739 -0.00769
EURTRY 02-Jul-2020 03-Jul-2020 0.001949 0.000855
USDTRY 01-Jul-2020 02-Jul-2020 0.001594 0.000613
GBPAED 02-Jul-2020 06-Jul-2020 0.0011 -0.0004
GBPMXN 02-Jul-2020 03-Jul-2020 0.005116 0.002388
XAUEUR 02-Jul-2020 03-Jul-2020 0.0405 -0.0603
XAUJPY 02-Jul-2020 03-Jul-2020 6.73 -5.55
XAGEUR 02-Jul-2020 03-Jul-2020 0.000387 -0.000649
XAGJPY 02-Jul-2020 03-Jul-2020 0.0655 -0.0606
XAUAUD 02-Jul-2020 03-Jul-2020 0.0933 -0.0725
PLNSEK 02-Jul-2020 03-Jul-2020 0.000055 -0.000079
XAGAUD 02-Jul-2020 03-Jul-2020 0.001 -0.0008
ZARJPY 02-Jul-2020 03-Jul-2020 -0.0004 -0.0012
SGDPLN 02-Jul-2020 03-Jul-2020 0.000069 -0.000101
TRYDKK 02-Jul-2020 03-Jul-2020 -0.000087 -0.000232
AUDTRY 02-Jul-2020 03-Jul-2020 0.00115 0.000476
CHFTRY 02-Jul-2020 03-Jul-2020 0.001889 0.000852
CHFSGD 02-Jul-2020 03-Jul-2020 0.000083 0.000002
GBPTRY 02-Jul-2020 03-Jul-2020 0.002011 0.000811
NZDTRY 02-Jul-2020 03-Jul-2020 0.001082 0.000446
NZDZAR 02-Jul-2020 03-Jul-2020 0.00209 0.000843
MXNJPY 02-Jul-2020 03-Jul-2020 -0.000418 -0.000871
TRYJPY 02-Jul-2020 03-Jul-2020 -0.0015 -0.0039
AUDZAR 02-Jul-2020 03-Jul-2020 0.002218 0.000898
CADPLN 02-Jul-2020 03-Jul-2020 0.000099 -0.000084
CADMXN 02-Jul-2020 03-Jul-2020 0.003141 0.0014
AUDSEK 02-Jul-2020 03-Jul-2020 0.000169 -0.000158
USDRON 02-Jul-2020 03-Jul-2020 0.000368 0.000128
EURRON 02-Jul-2020 03-Jul-2020 0.000513 0.000249
GBPILS 02-Jul-2020 03-Jul-2020 0.000072 -0.000186
ILSDKK 02-Jul-2020 03-Jul-2020 0.000094 -0.000035
MXNDKK 02-Jul-2020 03-Jul-2020 -0.000027 -0.000048
NZDMXN 02-Jul-2020 03-Jul-2020 0.002779 0.001324
AUDNOK 02-Jul-2020 03-Jul-2020 0.00022 -0.000125
CHFMXN 02-Jul-2020 03-Jul-2020 0.004946 0.002577
AUDMXN 02-Jul-2020 03-Jul-2020 0.00295 0.001412
EURRUB 02-Jul-2020 03-Jul-2020 0.014478 0.00761
SARDKK 02-Jul-2020 06-Jul-2020 0.000248 -0.000537
XAGDKK 02-Jul-2020 03-Jul-2020 0.005417 -0.003062
XAUDKK 02-Jul-2020 03-Jul-2020 0.4155 -0.3669
CZKPLN 02-Jul-2020 03-Jul-2020 0.000007 -0.000007
PLNHUF 02-Jul-2020 03-Jul-2020 0.0038 -0.0014
CADSEK 02-Jul-2020 03-Jul-2020 0.000177 -0.000212
HUFJPY 02-Jul-2020 03-Jul-2020 0.000003 -0.000018
TRYZAR 02-Jul-2020 03-Jul-2020 0.000108 -0.000319
XAUGBP 02-Jul-2020 03-Jul-2020 0.0593 -0.0316
EURILS 02-Jul-2020 03-Jul-2020 0.000127 -0.000108
AUDILS 02-Jul-2020 03-Jul-2020 0.000055 -0.000092
CHFILS 02-Jul-2020 03-Jul-2020 0.00018 -0.000054
CZKNOK 02-Jul-2020 03-Jul-2020 0.000016 -0.000016
CZKSEK 02-Jul-2020 03-Jul-2020 0.000013 -0.000017
CZKSGD 02-Jul-2020 03-Jul-2020 0.000002 -0.000003
CZKZAR 02-Jul-2020 03-Jul-2020 0.000129 0.000053
HUFCZK 02-Jul-2020 03-Jul-2020 0.000003 -0.000005
HUFMXN 02-Jul-2020 03-Jul-2020 0.000012 0.000005
HUFNOK 02-Jul-2020 03-Jul-2020 0.000001 -0.000002
HUFSEK 02-Jul-2020 03-Jul-2020 0.000001 -0.000002
HUFSGD 02-Jul-2020 03-Jul-2020 0.000001 -0.000001
HUFZAR 02-Jul-2020 03-Jul-2020 0.000009 0.000003
ILSJPY 02-Jul-2020 03-Jul-2020 0.000821 -0.001173
ILSNZD 02-Jul-2020 03-Jul-2020 0.000017 -0.000013
NOKPLN 02-Jul-2020 03-Jul-2020 0.000012 -0.000013
NOKSGD 02-Jul-2020 03-Jul-2020 0.000005 -0.000004
NOKZAR 02-Jul-2020 03-Jul-2020 0.000293 0.000152
SEKSGD 02-Jul-2020 03-Jul-2020 0.000006 -0.000003
SEKZAR 02-Jul-2020 03-Jul-2020 0.000312 0.000169
SGDZAR 02-Jul-2020 03-Jul-2020 0.001973 0.000979
XAGGBP 02-Jul-2020 03-Jul-2020 0.000582 -0.000351
CZKJPY 02-Jul-2020 03-Jul-2020 0.000141 -0.000206
NOKTRY 02-Jul-2020 03-Jul-2020 0.000157 0.000078
SEKTRY 02-Jul-2020 03-Jul-2020 0.000166 0.000085
TRYCZK 02-Jul-2020 03-Jul-2020 -0.000341 -0.000808
XAUTHB 02-Jul-2020 03-Jul-2020 2.54 -21.42
XAUTRY 02-Jul-2020 03-Jul-2020 3.1021 1.2026
XPTUSD 02-Jul-2020 03-Jul-2020 0.0208 -0.0555
CHFRON 02-Jul-2020 03-Jul-2020 0.000518 0.000264
XAUCHF 02-Jul-2020 03-Jul-2020 0.032 -0.077
XAGCHF 02-Jul-2020 03-Jul-2020 0.000298 -0.000821
XAUXAG 02-Jul-2020 03-Jul-2020 0.004 -0.0036
XPTEUR 02-Jul-2020 03-Jul-2020 0.0024 -0.0649
USDCLP 01-Jul-2020 02-Jul-2020 0.1336 0.0878
XPTDKK 02-Jul-2020 03-Jul-2020 0.1303 -0.1915
XAURUB 02-Jul-2020 03-Jul-2020 22.9836 10.4177
XPTZAR 02-Jul-2020 03-Jul-2020 2.51 0.33
CADSGD 02-Jul-2020 03-Jul-2020 0.00004 -0.000023
AUDAED 02-Jul-2020 06-Jul-2020 0.000634 -0.000163
CADRON 02-Jul-2020 03-Jul-2020 0.000304 0.000109
CHFRUB 02-Jul-2020 03-Jul-2020 0.012926 0.008895
GBPRON 02-Jul-2020 03-Jul-2020 0.00048 0.000191
CADCZK 02-Jul-2020 03-Jul-2020 0.00077 -0.00068
CADHUF 02-Jul-2020 03-Jul-2020 0.0116 -0.0036
GBPRUB 02-Jul-2020 03-Jul-2020 0.013083 0.008479
RUBDKK 02-Jul-2020 03-Jul-2020 -0.000008 -0.000014
NOKRON 02-Jul-2020 03-Jul-2020 0.00004 0.000015
DKKAED 02-Jul-2020 06-Jul-2020 0.000128 -0.000059
USDCOP 01-Jul-2020 02-Jul-2020 0.1125 -0.1031
USDPEN 02-Jul-2020 03-Jul-2020 0.000105 -0.000096
ZARAED 02-Jul-2020 06-Jul-2020 -0.000046 -0.000135
CADZAR 02-Jul-2020 03-Jul-2020 0.002152 0.001089
PLNZAR 02-Jul-2020 03-Jul-2020 0.000726 0.000363
JPYAED 02-Jul-2020 06-Jul-2020 0.000009 -0.000003
NOKAED 02-Jul-2020 06-Jul-2020 0.000085 -0.000036
CZKRUB 02-Jul-2020 03-Jul-2020 0.000483 0.000247
SGDAED 02-Jul-2020 06-Jul-2020 0.000549 -0.000306
PLNRUB 02-Jul-2020 03-Jul-2020 0.002719 0.001664
XAUSGD 02-Jul-2020 03-Jul-2020 0.1217 -0.0438
ZARMXN 02-Jul-2020 03-Jul-2020 0.000069 -0.000051
XAUNZD 02-Jul-2020 03-Jul-2020 0.0991 -0.0814