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Spot FX
A purchase or sale of one currency against another for delivery of 2 business days after the original date of contract.
Fixed Delivery Forward FX
A purchase or sale of one currency against another for delivery of more than 2 business days after the original date of contract and also includes transactions of value the same day (value tod) or the next business day (value tom). The pricing of a contract are combinations of the Spot price and Swap points.
As a hedging tool against foreign exchange fluctuations, a Forward FX works well for your expected foreign currency trade receipt or payment on a known date in the future.
Option Delivery Forward FX
Similar to the Fixed Delivery Forward FX, the Option Delivery Forward FX works as a hedging tool whereby the delivery of contract can be anytime between the dates of contract to maturity.
Multiple Options*
A staggered option where at the point of contract, the staggered forward rate will be agreed upon. You will have the flexibility to take up the contract as well as the rates.
Par Forward*
A staggered option where at the point of contract, a pre-determined staggered forward rate will be agreed upon on the day of fixing. The forward points for the Par Forwards is pro-rated for the duration of the contract, therefore allowing the flexibility of taking-up the contract at the same rate throughout.
As such, the Par Forward permits the planning and management of known cash flows for the period of the contract.
