# Spot date

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In [finance](/source/finance), the '''spot date''' of a transaction is the normal settlement day when the transaction is carried out as soon as practical, i.e. "on the spot".<ref>UNDERSTANDING ACCOUNTING AND FINANCE: THEORY AND PRACTICE, [https://books.google.com/books?id=yiKG7RRlN-AC&pg=PA401 p.401]</ref> This kind of transaction is called a "spot transaction" or simply "spot", and is often described as such in contrast to a transaction which is not settled immediately, such as a ''[futures contract](/source/futures_contract)'' or a ''[forward contract](/source/forward_contract)''.

==Settlement date==
The spot [settlement date](/source/settlement_date) may be different for different types of financial transactions, based on market practice. For example, in the [foreign exchange market](/source/foreign_exchange_market), spot is normally two banking days forward for the [currency pair](/source/currency_pair) traded.

image:OptionsTimeline.GIF

Other [settlement date](/source/settlement_date)s are also possible.  Standard settlement dates are calculated from the spot date.  For example, a one-month foreign exchange forward settles one month after the spot date—i.e., if today is 1 February, the spot date is 3 February and the one-month date is 3 March, assuming these dates are all business days. For a trade with two dates, such as a [foreign exchange swap](/source/forex_swap), the first date is usually taken as the spot date.

== See also ==

* {{annotated link|Date rolling}}
* {{annotated link|Day count convention}}
* {{annotated link|Foreign exchange date conventions}}
* {{annotated link|Foreign exchange spot}}
* {{annotated link|International Monetary Market}}
* {{annotated link|Settlement date}}
* {{annotated link|Spot price}}
* {{annotated link|T+2}}
* {{annotated link|Trade date}}
* {{annotated link|Value date}}

==References==
{{reflist}}

Category:Financial markets
Category:Bond valuation
Category:Swaps (finance)
Category:Settlement (finance)

{{finance-stub}}

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