The difference between futures indexes and cash indexes in VAT

There are 2 types of indexes traded in VAT. For example, CAC40 (quarterly futures) and CAC40.cash (cache index). When the quarterly futures expire, instead of closing the position, it is automatically transferred to the next 3m futures. As the next futures are traded at another different price, this difference is offset by Swap.

Example: If the current futures closes at 100 and the next one trades at 105 at the same time, if you have a low position you will see an unrealistic gain of +5 as the chart will start from 105 / in the background position closes at 100 and opens of the new futures at 105 / to offset this difference in the Swap field will be reflected -5 ie. +5 profit from the difference in price and -5 Swap. If you are short position you will have a score of -5 and Swap +5. The result of the transfer itself is null.

The cash index is credited with a standard overnight swap to transfer the position the next day and reflects the dividends. There is no daily swap on futures indices and dividends have a quarterly position. We have a rollover at VAT, with futures being better suited to long-term positions. The swap itself does not make or lose anything, it simply balances the price difference between futures, and for a long position it is usually negative since the next futures are usually at a higher price, since expectations are that the market will still rise in the long run .

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