Forex Trading London
Forex Dealer question – spot value?
On Wednesday 2nd June, a Monte dei Paschi di Siena forex dealer in Milan agrees with a Barclays Bank dealer in London to sell Euros against Sterling Pounds on a spot basis. Assuming that Friday 4th is a non-trading date being a public holiday in both Madrid and London, the currencies are traded for value
a)Thursday 3rd June
b)Monday 7th June
c)Tuesday 8th June
d)Wednesday 9th June
the price is established at the moment they agreed and as they agreed. Settlement [book credit or wire transfer] will occur as per the usual terms in that market — which I do not know. If the usual terms are “two business days”, then Monday the 7th is the second business day.
TRADING FOREX – London Open Breakout GBPJPY
