A futures contract carries an obligation to buy or sell the underlying asset at a predetermined time in the future at a price set today.

Libertex allows you to trade CFDs, or contracts for difference, on futures. A CFD is a financial instrument that lets traders potentially profit on underlying asset price fluctuations without owning the asset itself.

Future contracts have a term specified by the stock exchange.

Futures also have an expiry date, upon which all trades based on the respective futures contract are closed. To view futures' expiry dates, please refer to Instrument Specifications on our website.

When a futures contract expires, all pending orders associated with it are cancelled.

Note that during the last days of a future's life, its liquidity drops drastically. As such, the Company performs a rollover to the nearest futures contract traded before the expiry date of the respective futures contract.

To allow traders to hold long-term positions on CFDs on futures, these traders are provided access to an automatic rollover feature.

The result of the trade is determined by the futures contract's expiry.

Technically, the trade is closed at the last contract price available.

The 'old' contract is then substituted with a 'new' one while applying different prices.

The trade is opened for the new contract, with the amount and multiplier value staying the same. Technically, a new trade is made for the new contract, so the spread is deducted.

When a contract is rolled over, such an open price is calculated, so that at the moment of the first quote of the new contract available, the result of the previous trade received upon expiration may be saved.

To calculate a new open price on your own, you can refer to the following formula:

Where: