المدربThe spot value date of a trade is the day on which the two currencies are exchanged: by convention the second business day after the trade, counting only days that are business days in both currencies, and the first for dollar–Canadian dollar. A cross rate is the rate between two currencies neither of which is the dollar, such as EURJPY, traded directly or through the two dollar pairs.
أمثلة
Example 14.4 (Three crosses)
With EURUSD 1.1462/1.1464, USDJPY 156.86/156.88 and GBPUSD 1.3371/1.3373, the synthetic EURJPY is 179.7929/179.8472, 5.43 pips wide, a relative spread of 3.02 basis points against 1.74 and 1.27 for the legs; EURGBP is 0.85710/0.85738, 2.78 pips; GBPJPY 209.7375/209.7956, 5.81 pips. A dealer that quotes a cross directly can quote it tighter than the synthetic, but not crossed with it: a direct EURJPY bid above 179.8472 could be sold to and bought back through the legs at a profit.