Sell or buy a given amount of foreign/digital currency at a pre-agreed exchange rate on a future date. Can be used to eliminate exchange rate risk.
Sell or buy a given amount of foreign currency at a pre-agreed exchange rate with delivery (usually) two days later.
Simultaneous purchase and sale of one currency for another with two different value dates.
Derivative instrument that gives you the right, but not the obligation, to exchange one currency into another currency at a pre-agreed rate on specified date. Options solutions can potentially improve your exchange rate fixings and at the same time protect you against a worst case scenario