Forward Foreign Exchange Transaction definition
Forward Foreign Exchange Transaction or “Forward Transaction” means a transaction in which settlement takes place more than two Business Days after conclusion, using the Forward Exchange Rate agreed in advance. A Forward Transaction may be carried out OTC or through an organised market where standardised contracts (volumes) are traded.
Forward Foreign Exchange Transaction means a Foreign Exchange Transaction whereby the parties agree that a specified future date shall be the due date. "Expiration Time" is the latest time at which an option may be exercised on the Expiration Date. If an option is exercised on the Expiration Date but after the Expiration Time, such option will be deemed to have been exercised on the following Banking Day.