Spot Next definition
Spot Next means the term of a Repo transaction, of which the date for the Front Leg equals "Spot" and the date for the Term Leg is one trading day following the start date.
Spot Next means the term of a Repo transaction for which the start date for the Front Leg corresponds to the closing day plus two trading days, and for which the end date for the Term Leg is one trading day after the start date.