Direct answer
Rollover for EUR/SEK is the periodic swap/interest adjustment applied when an FX position is held overnight. In practice, the platform calculates it from (1) the interest-rate difference between the euro and the Swedish krona, (2) day-count and timing conventions, and (3) any additional broker-specific adjustments (often expressed as a swap-rate quotation). The exact number you see depends on the instrument settings and the provider’s swap methodology, so you should verify it on your platform rather than rely on a generic formula.
Mechanism or definition
Rollover (swap) in FX is an adjustment that compensates for the difference in carrying costs between the two currencies in the pair. If you are long one currency versus the other, the position generally earns (or pays) based on the relative interest rates.
How the basic idea maps to inputs
- Two interest rates: one for EUR and one for SEK. The relevant value is typically an offered/benchmark short-term rate (the specific benchmark is provider-dependent).
- Interest-rate differential: the system compares the EUR side to the SEK side. That differential determines whether rollover is usually positive or negative for a given direction (long EUR/short SEK versus the opposite).
- Day-count convention: interest accrues using a convention that translates rates into a daily amount. Different conventions (and effective dates) can change the result.
- Timing / rollover windows: FX rollover often uses a specific reference time (for example, “end of trading day” in the platform’s timezone). That timing affects whether you carry the position into the next value date.
- Notional and quote conventions: rollover is calculated per unit of position size (notional), using contract specifications for the pair.
Broker adjustments Even if the underlying market interest differential is the starting point, providers commonly apply their own adjustments. These can include:
- a conversion from the market-rate differential into a “swap points” or “swap rate” representation,
- spreads/charges embedded in the swap quotation, and
- rounding and margining effects from the platform’s internal calculation.
As a result, two platforms can show different rollover numbers for the “same” EUR/SEK overnight hold, because they can use different rate sources, day-count methods, contract specs, and conversion logic.
Evidence or example
Because there are many implementation details, a useful way to understand the calculation is to work with a hypothetical structure and then compare it to what your platform displays.
Assumptions for the example (hypothetical)
- You hold a EUR/SEK position overnight.
- The platform reports a swap value as an amount per unit (or as swap points that convert to an amount).
- The calculation uses a standard daily accrual derived from the interest differential.
Step-by-step template
- Identify the platform’s displayed swap rate/points for EUR/SEK for your position direction (long or short). Platforms typically show either long-swap and short-swap values.
- Confirm which rollover rule applies for the date you are holding.
- Compute the rollover amount using the platform’s conversion from swap points/rate to currency amount, multiplied by your position size (notional/units).
Triple-swap convention (material convention) Many FX systems apply an additional multiplier on certain rollover days (commonly described as “triple rollover”), intended to cover multiple calendar days of accrual. The practical effect is that the same overnight hold can have a larger rollover charge or credit on those specific days.
How EUR/SEK direction affects the sign If you are long EUR/SEK, you are effectively long EUR and short SEK. If the EUR-side carrying cost is higher than the SEK-side, the rollover can be negative for that direction; if it is lower, it can be positive. The opposite direction flips the sign.
Limitations and risks
- The formula is not universal: there is no single, universally identical rollover calculation across providers. Benchmark selection, day-count, timing, and conversion to swap points can differ. 2. “Triple rollover” can change the cost: holding across certain days can materially increase the absolute rollover amount versus a normal overnight roll. 3. Rollover can be net of charges: the displayed rollover often already reflects provider adjustments, not only the pure interest differential. 4. Market conditions don’t stay constant: interest differentials can change, and the provider may refresh inputs at defined intervals.