Your CFDs don't expire. We handle the rolls.
None of GCI's products, CFD or otherwise, "expire" or require the client to provide rollover instructions. The schedule below is informational and not a guarantee — the reference price will roll when our data provider rolls the underlying contracts to the next forward month. Any necessary P&L adjustment is made automatically.
What you need to know
What is a roll?
CFDs on futures-based products (indices, commodities) reference a specific futures contract. When that contract approaches expiry, we switch the reference to the next contract month. That switch is called a roll.
Does it affect my P&L?
No. Rolls in the reference price month do not affect your P&L — any necessary adjustment is made automatically to compensate for the price difference between the old and new reference contract.
Do I need to do anything?
Nothing. Rolls happen automatically on the dates listed below. Your open positions are preserved across the roll and your stop / limit orders remain in place.
Roll schedule 28 products
| Product | Roll Frequency | Roll Schedule (reference price change) |
|---|---|---|
| Stock Market Indices | ||
| S&P500 | Quarterly | Third Friday in March, June, September, and December |
| Nasdaq 100 | Quarterly | Third Friday in March, June, September, and December |
| Dow Jones | Quarterly | Third Friday in March, June, September, and December |
| Russell 2000 | Quarterly | Two days before third Friday in March, June, September, and December |
| DAX 30 | Quarterly | Two days before third Friday in March, June, September, and December |
| DJ Euro Stoxx | Quarterly | Two days before third Friday in March, June, September, and December |
| FTSE 100 | Quarterly | Two days before third Friday in March, June, September, and December |
| Swiss Market Index | Quarterly | Two days before third Friday in March, June, September, and December |
| SPI 200 | Quarterly | Two days before third Friday in March, June, September, and December |
| CAC 40 | Monthly | Third Friday of the contract month |
| IBEX 35 | Monthly | Third Friday of the contract month |
| Bovespa Index | Bi-monthly | The Wednesday closest to the 15th calendar day of the contract months of February, April, June, August, October, and December |
| Nikkei 225 | Quarterly | Two days before second Friday in March, June, September, and December |
| MSCI Taiwan | Monthly | Second to last business day of Contract month |
| Hang Seng | Monthly | Second to last business day of Contract month |
| Energies & Commodities | ||
| Crude Oil (WTI) | Monthly | Two business days prior to the third business day prior to the 25th calendar day of the month preceding the delivery month |
| Brent Crude Oil | Monthly | Two business days before the last business day of the second month preceding the relevant contract month (e.g. the March contract month would expire on the last business day of January) |
| Natural Gas | Monthly | Two business days prior to the third business day prior to the first calendar day of the delivery month |
| Copper | March, May, July, September, and December | Two days before the third to last business day of the delivery month |
| Lumber | January, March, May, July, September, and November | Three business days prior to the 16th calendar day of the contract month |
| Soybeans | January, March, May, July, August, September, and November | Three business days prior to the 15th calendar day of the contract month |
| Coffee | March, May, July, September and December | Eight business days prior to the last business day of the delivery month |
| Bonds | ||
| US Treasury Notes | Quarterly | Two business days before the seventh business day preceding the last business day of the delivery month |
| German Bund | Quarterly | 8th Calendar day of the delivery month |
| Forex Futures | ||
| Forex Futures | Quarterly | 9 days before the 3rd Wednesday of the expiration month |
| Spot Markets — no rolls | ||
| Currencies | None — Spot Market | N/A |
| Precious Metals | None — Spot Market | N/A |
| Shares | None — Spot Market | N/A |
How a Crude Oil roll affects positions
The Crude Oil market rolls from $79.15 to $80.25; this denotes an upward roll of $1.10 (110 pips).
Long position is charged the per-lot adjustment; short position is paid the same amount.
Opposite actions: short position is charged; long position is paid.
These adjustments compensate for the price difference between the old and new reference contract — your overall P&L is unaffected by the roll itself.
Related pages
Practice with virtual funds
A free demo account lets you see how rolls and adjustments appear in your trade history.
Open a Free DemoQuestions about a roll?
Our specialists can walk you through how a specific roll will affect your open positions.
No rollover instructions, no expiry stress.
We handle the contract rolls. You focus on the trade.