forward transactions in securities

What is forward transactions in securities?

forward transactions in securities definition and meaning on Finance terms:
Over-the-counter contracts in which the purchase or sale of an interest rate instrument (usually a bond or note) is agreed on the contract date, for delivery at a future date, at a given price. <

 

reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html

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