Albert RobertsonBearishRoll Positions with Tom‑Next Forex Transactions
You hold a forex position overnight. The next morning, it was still open, but something happened behind the scenes: your position was rolled over. That rollover happens through a mechanism called Tom-Next (short for "tomorrow-next day"), a short-term forex transaction that lets traders keep positions open past the standard settlement date without ever taking physical delivery of the currency. This guide explains what Tom-Next means, why forex settles on a T+2 cycle, and how the swap works.
