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Template:Spot contract definition: Difference between revisions
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Template:Spot contract definition (view source)
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By way of explaining why it is out of scope for {{t|MiFID 2}}, a [[spot contract]] is defined in Art. 10(2) of [https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX%3A32017R0565 Commission Delegated Regulation (EU) 2017/565] as | By way of explaining why it is out of scope for {{t|MiFID 2}}, a [[spot contract]] is defined in Art. 10(2) of [https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX%3A32017R0565 Commission Delegated Regulation (EU) 2017/565] as | ||
:''A [[spot contract]] for the purposes of paragraph 1 shall be a contract for the exchange of one currency against another currency, under the terms of which delivery is scheduled to be made within the longer of the following periods:''<br> | :''A [[spot contract]] for the purposes of paragraph 1 shall be a contract for the exchange of one [[currency]] against another [[currency]], under the terms of which delivery is scheduled to be made within the longer of the following periods:''<br> | ||
::''(a) 2 trading days in respect of any pair of the [[major currencies]] set out in paragraph 3;''<br> | ::''(a) 2 trading days in respect of any pair of the [[major currencies]] set out in paragraph 3;''<br> | ||
::''(b) for any pair of currencies where at least one currency is not a major currency, the longer of 2 trading days or the period generally accepted in the market for that currency pair as the standard delivery period;''<br> | ::''(b) for any pair of currencies where at least one currency is not a major currency, the longer of 2 trading days or the period generally accepted in the market for that currency pair as the standard delivery period;''<br> | ||