Value Date

The value date is the date on which a forex transaction officially settles — funds and currency actually change hands — as distinct from the trade date, when the deal was agreed. For spot forex, the standard value date is two business days after the trade date (T+2). Because retail CFD and forex positions are typically rolled forward daily rather than settled, the value-date mechanic is what generates the daily swap/rollover charge on positions held open past a session's cut-off.