How overnight financing works
A position held beyond an instrument-specific time may receive a debit or credit. Rates can change and may differ for long and short positions.
Three-day or multi-day adjustments
Explain the exact weekday and rationale for weekend or settlement adjustments by asset class.
Rate transparency
Show instrument, long rate, short rate, unit, effective date, cut-off timezone and calculation formula.
Common questions
Can swap be positive?: Depending on the product and current rate schedule, a position may receive a credit, but this is not guaranteed.
When do rates change?: Rates may be updated as financing conditions, benchmarks or provider terms change.