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A Non-deliverable forward (NDF) is an outright forward contract in which counterparties settle the difference between the contracted NDF price or rate and the prevailing spot price or rate on an agreed notional amount.
NDFs are mostly offered in countries where FX trading is controlled and managed by the government, usually through the Central Bank (as a means to prevent currency rate volatility).
IKON offers NDF’s including, but not limited to, the Indian Rupee, Brazilian Real, Russian Ruble, Chinese Yuan, Malaysian Ringgit, Vietnamese Dong, and Colombian Peso which are available on the IKON Prodigy Platform and IKON’s MT4 Platforms.
*Additional instruments can be added upon request. Note that NDF spreads are not the same as major parities and may vary depending on volatility and liquidity.