Outright Forward definition
Outright Forward transaction means a transaction involving the exchange of two currencies at a rate agreed on the date of the contract for value or delivery (cash settlement) at some time in the future (more than two business days later). This does not include non-deliverable forwards (NDFs) or contracts for difference (CFDs).
Outright Forward is an agreement to exchange sums of currency at an agreed-on exchange rate on a value date that will be in more than two bank business days’ time. The exchange rate for a forward transaction is called the forward outright.