Historical Rate Rollover definition
Historical Rate Rollover means in relation to a Forward Contract the practice of rolling over the Forward Contract upon maturity at the historical exchange rate from inception having regard, when determining the new exchange rate, to the In the Money or Out of the Money state of the Forward Contract. Instruction means any instruction or request given by the Client to Compass offering to enter into a Financial Product as provided for under clause 8.2. In the Money means the value of the original Forward Contract or Options Contract is more favourable than the current Mark to Market value. Knock-In Rate means where applicable the exchange rate that if traded at or through in the spot foreign exchange market before the Expiration Time or during any Window will result in the Buyer’s right pursuant to an Option Contract to become effective.
Examples of Historical Rate Rollover in a sentence
If an alteration under clause 16.1 concerns a Forward Contract, then Navigate may in its discretion agree to change the Deal Period for the Forward Contract on the basis of a Historical Rate Rollover.
If an alteration under subclause 23.1 concerns a Forward Contract, then CAFX in its absolute discretion agree to change the Settlement Date or Settlement Period for the Forward Contract on the basis of a Historical Rate Rollover.