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November 23, 2017

Question:Why Swap charges are tripled on Wednesday?

Answer:

If you hold a position overnight on a Wednesday, the normal financing charges that are credited/debited on a daily basis are three times the normal amount.

Charging triple swap on Wednesday roll-over period accounts for the settlement of trades over the weekend, as swap rates are not charged during this period due to the market being closed.

Overnight financing costs are applied during the New York close which equates to 00:00 platform time.

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