Swaps

Often referred to as Rollover Interest, swaps are charged when a client holds onto a position overnight . They are due to differentials in interest rates between the base metal and the quote currency.

SGCM undertakes precious metal trading on a “spot” basis. All trades are settled two business days from their inception as per market convention. Swaps are calculated automatically and are applied at Hong Kong Time 4:00 am (Greenwich Mean Time GMT 20:00 Summer), Hong Kong Time 5:00 am (Greenwich Mean Time GMT 21:00 Winter) market close.on a daily basis and SGCM does not arrange for physical delivery. Any open positions held from Wednesday to Thursday on a trade date basis will be charged three times the value. Please note SGCM does not arrange for physical delivery.

Any open positions held from Wednesday to Thursday on a trade date basis are charged three times the rollover Interest . These extra payments are to cover the interest that would normally have been charged at the weekend (Saturday and Sunday) when the underlying market is closed.

Note: Interest is not required to be paid on the borrowed amount, but if the investor decides to hold his position overnight, interest will be charged as the rolled over rates on the total positions held.

Platform Time

The time shown on SGCM MT4 trading system is set to Greenwich Mean Time (GMT) +3 hours (Summer), which is 5 hours behind Hong Kong time (GMT +8). Therefore, bear in mind that to add 5 hours to match with Hong Kong Time. Greenwich Mean Time (GMT) +2 hours (Winter) which is 6 hours behind Hong Kong time (GMT +8). Therefore, bear in mind that to add 6 hours to match with Hong Kong Time. Make sure you have the correct time.