Futures

[Iggypops]

I have open positions in 3 Futures markets which all expire mid March. Could you explain what happens if they remain open at that point. Do they automatically close and I thus incur any consequential losses?  

[CharlotteIG]

On 14/01/2021 at 09:30, Iggypops said:

I have open positions in 3 Futures markets which all expire mid March. Could you explain what happens if they remain open at that point. Do they automatically close and I thus incur any consequential losses?  

Hey, 

It depends on the rollover instructions you have set for futures. 

If you've enabled rollover instructions a day before expiry we will close your position, you will realise the profit or loss, then open a new position in the next contract. 

If you've disabled rollover instructions we will close your position on the expiry date and you will realise the profit or loss. 

The rollover instructions can be found on the MyIG page by selecting settings> Rollover instructions.  I you change them make sure you save your preference. 

All the best

[Iggypops]

On 15/01/2021 at 11:47, CharlotteIG said:

Hey, 

It depends on the rollover instructions you have set for futures. 

If you've enabled rollover instructions a day before expiry we will close your position, you will realise the profit or loss, then open a new position in the next contract. 

If you've disabled rollover instructions we will close your position on the expiry date and you will realise the profit or loss. 

The rollover instructions can be found on the MyIG page by selecting settings> Rollover instructions.  I you change them make sure you save your preference. 

All the best

Thanks Charlotte, that's helpful. I'll have a look. Much appreciated.