USDX Update

   
What is happening?
As of 22nd of April 2021, we will cease offering US Dollar Index Cash product and the Cash product will then be categorized as a Futures asset class.

Why is it changing?
Our liquidity provider will stop offering the Cash product and will instead offer US Dollar Index Futures.

What will happen to my open positions?
Any open positions on US Dollar Index Cash will then be held on an expiration and rollover basis as other Futures products. What this mean to you is your then adjusted US Dollar Index Futures positions will NOT be subject to overnight financing charges from 23rd April 2021 onwards. It will instead be subject to rollover adjustment if you hold over the monthly expiration date, appearing on your statement as ‘Cash Adjustment-Rollover’.

What is the rollover?
The concept of the rollover is switching the expiring contract to a new contract prior to the expiration date without having to close the existing position(s). The rollover adjustment does not eliminate the associated market risk with the price differences from the market closing and the market re-opening at the rollover date.

What can I do to avoid rollover adjustment?
Rollover adjustments are only applied to a Futures position should it remained opened through the rollover date. Should you not want to get impacted due to the rollover adjustment(s), you may choose to close any US Dollar Index Futures positions that you may have open in your account before the market closure on 21st April 2021 and a day prior to any of the following expiration dates.

If you have any questions about any of these changes, please contact our dedicated support team or your Account Manager.

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