In finance, the booking date is the normal billing date on which the booking is completed today. This type of transaction is called spot or simply spot transaction. The spot date may be different for different types of financial transactions. On the foreign exchange market, Spot is normally two days in advance of the bank for the currency pair traded. A booking that has been cancelled after the spot date is called a futures or futures contract. The price difference between a future contract or a futures contract against a spot contract takes into account the date of payment. Cash exchange agreements last two business days and other financial documents will be settled on the next business day. In finance, a spot contract, a cash transaction or simply a spot contract is a contract to buy or sell a commodity, security or immediate settlement currency (payment and delivery) on the date of the spot, which is normally two business days after the trading date. The settlement price (or rate) is referred to as a spot price (or spot price). A cash contract runs counter to a futures or futures contract in which the terms of the contract are now agreed, but delivery and payment are made at a later date. For example, a Chinese production company has a large delivery contract in the United States within a year. The Chinese company executes a currency for $20 million for the Chinese yuan at a future price of 0.80 $US per yuan. The Chinese company is obliged to deliver US$20 million at the price and on the date six months after this, regardless of the different spot prices.
Keep in mind that a spot rate curve is not a yield-ytm or swap rate curve – which are actually current trading price curves for securities at different maturities (this would be: yield curve, swap curve, cash curve or coupon curve). Spot prices cannot be observed directly, prices can be: spot prices are therefore estimated from these prices by the bootstraping method, and the result is the spot rate curve for the securities concerned. A futures contract sets an agreement on the current date for payment and delivery at a later date. An appointment rate cites a financial agreement that will take place in the future and is an agreed price for a futures contract.