Tomorrow-Next
An FX swap that rolls a position from tomorrow to the next business day.
Quick answer
Tomorrow-next is the swap that rolls a forex position from tomorrow to the next business day.
Definition
Tomorrow-next, or tom-next, is a swap that rolls a forex position from its value tomorrow to the next business day. It is the standard way open positions are carried overnight and is where the daily swap or rollover charge appears.
How It Works
- It is how positions are carried overnight
- The daily swap charge appears here
- It settles the interest cost of holding
Trading Tips
1
Check the tom-next rate before holding a position
2
Factor the swap into overnight trade cost
3
Expect it to differ by pair and direction
Related Terms
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