Weekend FX – now trade FX -7 days a week
LMAX Global offers Weekend FX trading, enabling market participants to capitalise on FX movements over the course of a weekend, or hedge their FX exposure when there is no underlying market available, without having to wait for the market to open on Sunday Night.
Weekend FX instruments key facts
What are Weekend FX instruments?more
Weekend FX instruments are cash-settled CFDs enabling clients to trade on FX movements over the weekend and hedge their FX exposure. They work in the same way as weekday rolling spot FX, with the exception that they expire on market close, Sunday 17:00 EST/EDT (there are no overnight financing charges).
Weekend FX instruments are offered between Friday 17:05 to Sunday 17:00 EST/EDT and are separate instruments to those traded on weekdays.
Trading of Weekend FX instruments will not affect clients’ weekday positions. close
Which FX instruments are offered?more
|Name||Symbol||Security ID||Margin||Contract size||Tick size||Tick size|
How does Weekend FX work?more
Weekend FX instruments are available for trading between Friday 17:05 and Sunday 17:00 EST/EDT. On Market close on Sunday at 17:00 EST/EDT the Weekend FX instrument will expire, and any open positions held into the close will be settled against the settlement price.
Any realised profits or losses in non-base currencies are not swept back to your trading account base currency unless requested.
Weekend FX instruments are completely independent to weekday rolling spot FX. Your Weekend FX open positions will not net off against any open weekday rolling spot FX positions. close
How is the settlement price calculated?more
Key Information Document – Weekend FX download
Open a Weekend FX account
A new independently funded account is required to access Weekend FX instruments.
Both accounts will remain independent, with trades on one account not offsetting or adding to the other, either in terms of position or margin requirements. Realised profits and losses on your Weekend FX account can be transferred back to your existing LMAX Global account when requested.
Client opens a 10 contract trade in EURUSD at 1.10000, giving a notional value of $110,000. Client chooses to hold the position through to market close. At market close on Sunday the price is 1.10500, resulting in an unrealised profit of $500 ($110,500).
Settlement process explainedmore
The position remained open at market close, it goes through the settlement process using the average of the midpoint price of the LMAX Global FX instruments between 17:10-17:30 EST/EDT on Sunday – therefore the settlement price is calculated as 1.10550.
The position is then closed at 1.10550, realising a profit of $550 on the account. close
Connectivity and access
Connectivity: Cross connect at Equinix LD6 and via internet
Access: LMAX GUI, mobile, API (Java/.Net), FIX 4.2 /4.4, ITCH market data