Overnights

Atom8's Overnight Funding Rates are amongst the most competitive in the industry. At Atom8, we recognise the importance of longer-term “end of day” trading strategies in the FX market and advantageous roll-over rates help contribute to the results and hence the success of, such strategies.

What are overnight funding rates?


Overnight funding rates come from the daily process of rollover, in order to adjust any existing exposure to the new trading day. The process is also known as "position roll", "carry" or "overnight swap"; it is needed to avoid full cash delivery and receipt of the currencies traded.

At 21:00 GMT or 22:00 GMT, depending on the season, the end-of-day settlement process is done. For each open position, a pair of rollover trades will be booked, where existing positions are closed for the past trading day at the settlement price and simultaneously re-opened for the new trading day at the settlement price +/- the applicable overnight adjustment.

These trades are labelled as "rollover close" and "rollover open" respectively and can be viewed in the client portfolio and intraday statements. In addition, you can see the impact of the carry in the position report.

For the main countries, the calculation of overnight swap prices is commonly based on the central bank reference rates shown in the table below. Overnight swap rates change with changes in the interest rate differentials of the two currencies involved. However, note that Atom8’s overnight rates are based on interbank market overnight swaps.

Atom8 uses the following central bank target rates as a basis for its overnight policy set-up. Please note that Atom8 charges a competitive mark-up to such target rates and such mark-up may vary from time to time.

For MT4 clients, the overnight funding charge shall be shown in the Swap column of the Order Terminal. For non MT4 clients, the effect of overnights shall be applied by way of adjustment to the current market price of any open positions at the official settlement time on or about 10pm GMT.

USDFederal Funds Target Rate
EURMain Refinancing Rate
GBPOfficial Bank Rate
JPYUncollateralised Overnight Call Rate
CHFAverage Repo Overnight Rate
CADTarget Key Interest Rate
AUDCash Target Rate
NZDOfficial Cash Rate

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