The Book Trade tool supports the processing of spot transactions. A spot contract, or simply a spot, is any transaction that does not occur in the futures or forward market. That is, the participants in a spot transaction agree to buy and sell, respectively, at the present market value and to settle the transaction a few days (usually one, two, or three) later. The term is most common in the foreign exchange market. Spots are processed as cash activity, similar to a cash contribution to one currency, and a withdrawal to the offsetting currency.
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