TOMNext Rate/ Rollover fees and daylight saving BST > GMT

[Guest CPC69]

Hi,

Does anyone know if the TOMNext rate is affected by the end of BST this weekend?

I’m guessing that if IG uses UK based servers then the daily rollover time is still 10pm, but I know this has been an issue in other brokers platforms for traders.

Does anyone know the answer?

Many thanks,
Chris

[JamesIG]

Hey  - just to confirm over the BST  > GMT clock change there will be no change to the over night funding time for tomnext FX rates (assuming you are based in the UK). These will still be processed at 10pm UK time. There are a few other things to note...

 

From Sunday 29 October until Sunday 5 November, the end of US DST, there will be a few changes to our opening hours:

 

• US and Canadian markets will trade one hour earlier in UK time. For example, US and Canadian shares will be quoted between 1.30pm and 8pm
• All forex markets will open at 9pm on Sunday 29 October and close at 9pm on Friday 3 November
• 24-hour dealing on indices will open at 10pm on Sunday 29 October and close at 9pm on Friday 3 November
• Shares- US (All Sessions) will run from 8am to midnight Monday to Thursday, and from 8am to 9pm on Friday 3 November

 

The dealing desk will also close early at 9pm on Friday 3 November.

 

From Sunday 5 November, the above will revert to their usual hours. Please also bear the following in mind.

Asian Markets
Asian markets, which do not observe DST, will trade one hour earlier in UK time than previously. For example, Hong Kong shares will close at 8am.

Digital 100s
Please pay particular attention to the expiry times of US and Asian digital 100s, as the proximity to expiry has such a large bearing on the price quoted. You can check these in-platform. Go to the 'information' section on the deal ticket in the new platform, or click the drop-down next to your market and choose 'get info' in the old platform.

Australian markets
Clients trading Australian markets should be aware that Australian clocks went forward by one hour earlier this month (two hours relative to UK clocks from 29 October).

 

NB: I have just moved this post and added to your post title. Hope this is ok - just thought it may be more beneficial for the rest of IG community.