Definition of Spot date:
The spot date refers to the day when a spot transaction is typically settled, meaning when the funds involved in the transaction are transferred. The spot date is calculated from the horizon, which is the date when the transaction is initiated. In forex, the spot date for most currency pairs is usually two business days after the date the order is placed.
Foreign exchange market term for the date that is two business days from today, and on which the specified currency sold today must be delivered.
An exception to the usual two-day spot-date guideline is the USD/CAD pair, which settles in one business day because this currency pair is commonly traded and its financial centers are in the same time zone. Furthermore, settlement does not have to occur on the spot date. In a short date forward, for example, the transaction is settled in advance of the regular spot date.
Meaning of Spot date & Spot date Definition