Libertex provides customers with the ability to trade CFDs on futures contracts, rather than the futures contracts themselves (which, in fact, are traded on the exchange).
At the same time, the scheme of our work with these instruments is called "gluing": when the contract on the exchange finishes trading, we do not close all available positions of clients, but give them the opportunity to continue to keep them open.

From the exchange are quotes for several contracts at the same time. Only one is available for customers to trade. When liquidity on it begins to decline, we change it to another - it is this process of changing the contract that is called expiration.

It is impossible to experiment on the day when the contract finishes trading on the exchange - liquidity will be very low, so we focus on liquidity and experiment when the volumes under the current contract and the next are approximately comparable. This fact depends on our liquidity providers by instruments, since the exchange provides us with quotes, but at the same time we cannot cover the risks there.

What happens during expiration?

For example, for a long position when moving from September to October, the trader will receive additional profit in the amount of 0.37 US dollars per barrel (75.86 - 75.49 = 0.37). To level out this influence, the result of the transaction will be reduced just by this amount, and the spread at the time of expiration will be taken into account. That is, the difference in contract prices ($ 0.37 per barrel) and the spread will be deducted from the buyer's account.

For a short position, the transition of the price stream will give a loss of 0.37 dollars per barrel. This loss will be compensated by crediting to the account $ 0.37 per barrel of the transaction, however, the spread will also be taken into account.
Thus, the transition of the CFD price stream from one futures contract to another futures contract will ultimately slightly affect your financial result, reducing it by the size of the spread at the time of expiration.

In addition, we recall that the gap is not always visible on the chart: if the jump from 59 to 89 or (for example) from 1 to 99 was within the scope of one minute candle (and this is possible if one of the quotes was on second 05, and the other - on second 06), then the gap will not be visible on the chart (the candle for any interval cannot be divided into two parts due to the gap), only a long candle will be visible.

The expiration dates for each CFD instrument are determined unilaterally by the Company and are indicated on the website in the specification.