Definitions for "Forward transaction"
This is the transaction which, when carried out, fulfilment is agreed for a date later than if it had been agreed at spot, but not after 365 calendar days. They can be fulfilled in cash (the securities are paid), or financially (only the price difference is paid).
purchase or sale for delivery and payment at an agreed date in the future; similar to a futures contract, except that forward transactions are not subject to the standardized procedures and regulations of a commodities futures exchange.
an agreement between you and the Bank, which is agreed today, to exchange agreed-upon amounts of two different currencies at an agreed-upon rate/price for delivery on an agreed future date