forward delivery. To block, delete or manage cookies, please visit aboutcookies. Trading in the Foreign Exchange Market. Next Up, breaking down 'Foreign Exchange'. Forward Market A forward trade is any trade that settles further in the future than spot. A forward contract is tailor-made to the requirements of the counterparties. That means there are no clearing houses and no central bodies that oversee the forex market. Foreign exchange transactions encompass everything from the conversion of currencies by a traveler at an airport kiosk to billion-dollar payments made by corporations, financial institutions and governments. Trading pairs that do not include the dollar are referred to as crosses. Other pairs settle in two business days.
Transactions range from imports and exports to speculative positions with no underlying goods or services. And Plurinational State ofBosnia and Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina VerdeCayman IslandsCentral African RepublicChadChileChinaCocos (Keeling) the Democratic Republic of theCook IslandsCosta RicaCote d'Ivoire Côte d'IvoireCroatiaCubaCyprusCzech RepublicEcuadorEgyptEl SalvadorEquatorial Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern See (Vatican City State)HondurasHong Islamic Republic ofIraqIrelandIsle of Democratic People's Republic ofKorea, Republic. Futures Market A futures transaction is similar to a forward in that it settles later than a spot deal, but is for a standard size and settlement date and is traded on a commodities market. This service is provided by oanda Corporation, an NFA regulated firm based in the United States. Most have a maturity less than a year in the future but longer is possible. The exchange acts as the counterparty.