In general, any transaction whose fulfillment takes place at the time of the conclusion of the transaction, such as the exchange of domestic money into a foreign currency (xeno currency). – In particular, on the stock exchange: delivery and payment of the pieces exchanged must take place immediately, but at the latest within two (exchange) days after the conclusion of the transaction. In contrast, in the futures market, contracts are regularly traded for future delivery. – Sometimes (somewhat confusingly) this also refers to the market for long-term loans and capital investments, where the transactions are settled at a fixed rate agreed now (spot rate). – See spot instrument, loco market.
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Professor Dr. Eckehard Krah, Dipl.rer.pol.
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