Page 9 - Chapter 22 - Foreign Exchange
P. 9
EXCHANGE ITEM DESCRIPTION
FEC An agreement where a person
(Forward exchange agrees with another person to
contract) exchange an amount of currency for
another currency on a future date
@ a specified exchange rate.
FCOC An agreement where a person
(Foreign currency option acquires or grants the right to buy/
contract) sell a certain amount of a nominated
foreign currency before/on a future
expiry date @ a specified exchange
rate from/to another person.
