What is the difference between an “intraday” and an “overnight” position?
Intraday positions are all positions opened anytime during the 24 hour period AFTER the close of normal trading hours at 4:30pm New York time. Overnight positions are positions that are still on at the end of normal trading hours (4:30pm New York), which are automatically rolled at competitive rates (based on the currencies interest rate differentials) to the next day’s price.
