Rollover a Contract

Overview

Rolling over a contract gives you the option to change the maturity and withdrawal/deposit cash from the contract. It creates a new contract with the same attributes depending on how much is withdrawal/deposit from the contract. Rolling over a contract can be done from the trade date until it matures. Rollover can also be done for multiple contracts at once, see Multiple Rollover.

Get Started

From the Contracts grid click on the contract to rollover.

Rollover window

When the window opens you get the option to change the Maturity Date, set Fees, change the Interest Rate and if there is a profit on the contract you can withdrawal cash out of the contract and deposit cash into the contract if there is a loss on the contract.. Changing the Maturity Date and the Interest Rate will effect the Forward Price for the new contract.

Definitions

Customer Details
FieldDefinition
CustomerThe name of the customer of the contract
Selected Contract
FieldDefinition
Contract IDThe ID number of the contract to close
SymbolThe symbol of the underlying instrument
QuantityNumber of shares of the underlying asset
Value DateThe start date of the contract
Maturity DateThe date the contract will expire.
Contract AmountThe Start Price * Quantity
Start PriceThis is the opening price of the selected contract
Current PriceThis is the Start Price + accrued interest until today
Interest (%)The interest % is the interest amount of the contract.
Interest Fee (bp)Interest fee that is added to the contract.
Forward Interest (%)Forwards interest.  Interest + Interest fee.
PaymentsIf the underlying asset bears interest/dividend payments during the lifespan of the forward contract. This is what gets added/subtracted
Forward PriceThe Start Price + accrued interest until the maturity of the selected contract
Current Profit/LossThe contract profit or loss from the customers side. (Last Price (on the market) - Start Price) * Quantity
Withdrawal/DepositThe amount the customer wants to take out of the contract or put in if there is a loss
Calculate TaxIf there is a profit on the contract and the customer whats to withdrawal money from the contract. This is the option to calculate tax from that amount
 Tax20% of the P/L amount
Closing Profit/LossThe profit form the selected contract after withdrawal and tax. Or in the case where there is a loss on the contract this is the total loss after deposit if any

New Contract

FieldDefinition
Contract IDThe ID number of the new contract
SymbolThe symbol of the underlying instrument
QuantityNumber of shares of the underlying asset
Value DateThe start date of the new contract
Maturity DateThe date the rolled over contract will expire.

Final Interest Date

The next bank day or the settlement date after the contract expires. (T-1 for bonds and T-3 for equity)

Rollover Fee

Fee charged to the customer for rolling over. Usually a default amount decided by the bank

Transaction Fee

Is a default amount decided by the bank

Closing Fee

Fee charged to the customer for closing the contract. Usually a default amount decided by the bank

New Contract AmountThe new Start Price * Quantity

Collateral Margin (%)

The % of collateral margin if any

Start PriceThis is the Start Price of the previous contract + Fees + accrued interest
Interest (%)The interest % is the interest amount of the contract.
Interest Fee (bp)Interest fee that is added to the contract.
Forward Interest (%)Forwards interest.  Interest + Interest fee.
Collateral MarginThe Collateral Margin the Customer has for this trade. This is only for informational purpose and does not alert any margin calls.

New Forward Price

The Start Price on the new contract + accrued interests until maturity

New Forward Amount

The New Forward Price * Quantity