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Non-deliverable forward  (NDF) - Financial definition

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Translations:      FR  forward non livrable (n.m.) , forward sur devises non livrables (n.m.)     ES  contrato a plazo no entregable (n.m.) , contrato forward no entregable (n.m.)     DE  nicht lieferbarer Terminkontrakt (n.m.) , Terminkontrakt ohne Lieferung (n.m.) 

Concise definition of the term non-deliverable forward

A non-deliverable forward is a forward contract in which the counterparties agree to settle the difference between the contractual NDF price and the spot price at maturity in cash instead of exchanging the underlying.

Comprehensive definition of the term non-deliverable forward

NDFs are used in various markets, such as the foreign exchange and commodities markets.

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