Business, Legal & Accounting Glossary
The return of net interest on a currency position held by a trader at the end of the business day (5pm EST) before a settlement is made. This is because Forex market expires at 5pm EST everyday, so every open position will be exchanged for a new position at the next business day in a process known as “tom next”. Also called forex rollover rate.
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This glossary post was last updated: 16th November, 2021 | 0 Views.