Derivatives · glossary

TARGET Settlement Day

A day the euro payment system is open. Fixing Days count in these days, but payments also need a London business day, so an English bank holiday can move a payment but not a fixing. Keep both calendars in the same diary. Rate Definitions: Business Days · Chapter 6 · Chapter 7

Explained in Chapter 6, Trade Date: the Confirmations, Line by Line, of Derivatives.

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