Expiration is the expiration of a futures contract, which is the underlying asset for certain CFD instruments. Since the old contract has expired, it is necessary to switch to a new contract to ensure the possibility of further trading in this instrument.
At the expiration date, all trades under the old contract are closed, if their Auto rollover is not enabled.
By default, Auto rollover is enabled and the trade will be automatically extended at expiration. We strongly recommend checking this option in the settings as described below.
Please pay special attention - at the moment of switching to a new contract, all pending trades for this instrument are also subject to deletion.
Expiration dates of futures contracts can be checked in the CFD Specification on the Company's website.
In order for traders to be able to keep trades open even though they expire, they are given the option to automatically move the trade to a new contract as shown below.
Computer:
Select the active trade you wish to customize and click on the Commissions and Reports tab. Here you can check or uncheck the "Auto rollover" checkbox.
Mobile Device:
In the "Trades" section, select the desired trade and tap on the "Info" tab. Here you can check or uncheck the "Renew to a new contract" option.
Renewal (rolllover) of a trade in Libertex is performed as follows:
At the moment of expiration of the futures contract, the system memorizes the financial result of the trade;
The trade is detached from the old contract. A technical change of the "old" contract to a "new" contract with updated quotes takes place;
The trade is attached to the new contract with preservation of the trade size and multiplier value. Technically, a new trade is made with a new contract, so the spread for the transaction is charged, as well as the commission for opening the trade in accordance with the CFD Specification.
At prolongation (rollover) of the contract the price of reopening of the trade is calculated so that at the moment of receipt of the first actual price of the new contract the value of the financial result, which was observed before the expiration, would be preserved.
Important: Due to the fact that in the last days of a futures contract's existence its liquidity is strongly reduced, the Company may transfer to the nearest contracts in circulation in advance - before the expiration date of the current contract on the exchange.