outright-forward transaction

outright-forward transaction definition - finance
A transaction in which one currency is purchased for another. The transaction is settled on a predetermined date three or more business days after the deal date. Outright-forward transactions are very flexible and can be customized. They may be used to hedge, to speculate, or as investments. Similar to a spot transaction, which doesnÂ’t have a predetermined settlement date.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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