Futures contracts, Assets Expiration & Automatic Contract Rollover
Futures Contracts are agreements for buying and selling assets within a specified period of time. Most Futures Contract expiration dates range from 30 to 90 days.
- Trading prices on CFDs based on Futures Contracts change continuously during trading hours, and are dependent on the market.
- Contract Expiry: All trades will be automatically rolled over to the next contract at 17:00 GMT on the date of the expiration.
- Hours of trading may change due to market liquidity or holidays. Changes in the trading hours are published here.
Each time a future based CFD contract expires, all open positions at the date and time of the underlying contract expiry, shall be automatically rolled to the next CFD contract in the series.
If you have an open position at 17:00 GMT on the expiry-rollover date, this shall be proportionally adjusted for the difference in price between the expiring contract and the new contract through a rollover charge or credit which shall be processed at 17:00 GMT on your account balance.
If the new contract trades at a higher price than the expiring contract, a negative rollover value adjustment shall occur for long position(s) (buy) , whereas for short position(s) (sell) a positive rollover value adjustment shall occur, in order to reflect the price changes.
If the new contract trades at a lower price than the expiring contract, a positive rollover value adjustment shall occur for long position(s) (buy), whereas for short positions (sell) a negative rollover value adjustment shall occur , in order to reflect the price changes.
Any existing pending orders such as Stop loss, Take profit and Limit orders placed on an instrument will be adjusted proportionally to reflect the price differences between the expiring contract and the new contract on expiration-rollover date at 17:00 GMT.
The new value of each open position shall continue to reflect the market movement based on the initial opening level, size and spread.
In order to reflect the new Future contract, the Automatic Contract Rollover comes with a charge equivalent to 25% of the spread cost of the specific CFD position deducted from your account balance.
Commodity-based contracts renew monthly and Index-based contracts renew quarterly.
It is noted that you can avoid CFD Automatic Contract rollover by closing your open position(s) before 17:00 GMT on the expiration-rollover date.
- Positions on CFDs on cryptocurrencies come with an expiration after 30 calendar days at the end of the trading day regardless of profit or loss.