HOW DO DIVIDENDS IMPACT INDICES’ DAILY SWAP RATES?

A dividend is scheduled to be credited/deducted to the holders of Cash Indices CFD depending on the direction of your open position(s). If you buy and hold a cash index overnight, into the ex-dividend date, you will receive the dividend component. If you sell and hold a cash index overnight, into the ex-dividend date, you will be charged the dividend component. This adjustment is included into the end of day swap rate.

 

EXAMPLES OF INDEX DIVIDEND ADJUSTMENTS

1- If you buy and hold 1 lot DJ30 cash index overnight at the price of 21500.00 and the current overnight financing is -3 USD per day, with the dividend component of +20 USD, the total swap of the given day will be -3+20 = +17 USD

2- Conversely, if you sell and hold 1 lot SPI200 cash index overnight at the price of 5100.00 and current the overnight financing is -1 AUD per day, with the dividend component of -20 AUD, the total swap of the given day will be –1+(-20) = -21 AU

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