Spot fx vs futuros
When are FX Transactions subject to EMIR? FX forwards which settle in T+3 or longer are derivatives a rolling spot FX contract can be indefinitely renewed and no currency is actually delivered Reminder: EU Variation Margin Rules Apply to Physically Settled FX Forwards Beginning January 3, 2018. at which time any FX Forward that is not a "spot contract" becomes subject to variation margin if one or both of the parties to the FX Forward is a financial counterparty (FC) or a non-financial counterparty above a clearing threshold