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	Index Futures Rollover Explained
	Unlike Index CFD's, which reflect the underlying cash market and are subject to overnight financing, Index Future CFD’s are not. They expire in the market place on a certain day and are not subject to day to day financing. AxisTrader will switch from using the front month price feed into the next month price feed at the close of business on the day before the official market switches its front month feed before the market expires. This will not result in a cost or a benefit as your account will be cash adjusted to make allowance for the difference in price between the two months.

Accounts will cash adjusted on positions held at the following times:

UK100 Future		Close of business on the day before the 3rd Friday of expiry month.
DAX Future		Close of business on the day before the 3rd Friday of expiry month.
CAC Future		Close of business on the day before the 3rd Friday of expiry month.
WS30 Future		Close of business on the Wednesday the week before the 3rd Friday of expiry month.
SP Future		Close of business on the Wednesday the week before the 3rd Friday of expiry month.
NK Future		Close of business two days before the 2nd Thursday of expiry month.
Aus 200 Index Future		Close of business one day before the 3rd Thursday of expiry month.
Hang Seng Index Future		Close of business two days before the 3rd Friday of expiry month.

All information given is for information purposes only. It has been compiled as accurately as possible but is subject to change without notice.

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Example:

A clients open position is long 10 Australia 200 Futures CFD’s at 5525

Price at close on day before the front month changes is 5570 (making the client a profit of AUD 450)

Next contract price is 5600 (ie plus 30 over current month)

Price feed is changed to new contract.

A/C position now showing profit of AUD 750, but the account will be debited AUD 300.

The net financial effect is zero.

Investing in margin foreign exchange and other derivatives can be risky and these products are not suitable for all investors and traders.
The information on this page is of general information only and does not take into account your objectives, financial situation or needs and you should consider the information in light of these objectives, financial situation or needs before making any decision about whether to acquire these products.
We recommend you consult your financial adviser before you acquire or continue to hold these products.
A Product Disclosure Statement (PDS) is available by contacting AxisForex Group Holdings Pty Ltd (Axisforex) on 1300 851 950 or by clicking here.
Information about our services, including our fees and charges is contained in our Financial Services Guide, which is available at those sources.
You must consider these documents in deciding whether to acquire or continue to hold these products.

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Index Futures Rollover Explained