Settlement Date
The standard settlement timeframe for foreign exchange spot transactions is T + 2 days; i.e., two business days from the trade date. A notable exception is the USD/CAD currency pair, which settles at T + 1.
Read more about this topic: Foreign Exchange Spot
Famous quotes containing the words settlement and/or date:
“The Puritans, to keep the remembrance of their unity one with another, and of their peaceful compact with the Indians, named their forest settlement CONCORD.”
—Ralph Waldo Emerson (1803–1882)
“A preschool child does not emerge from your toddler on a given date or birthday. He becomes a child when he ceases to be a wayward, confusing, unpredictable and often balky person-in-the- making, and becomes a comparatively cooperative, eager-and-easy-to-please real human being—at least 60 per cent of the time.”
—Penelope Leach (20th century)