Broken Dates
Non-standard settlement dates in forex that don't match typical market conventions.
Definition
Broken dates (also called odd dates or cock dates) are forex settlement dates that fall outside standard market conventions. Standard dates are spot (T+2), tom (T+1), and standard forward dates (1W, 1M, 3M, etc.). Any date that doesn't match these is a "broken date."
How It Works
- Standard: Spot, 1 week, 1 month, 3 months, etc.
- Broken: T+5 days, 17 days, 45 days, etc.
- Requires interpolation between standard rates
- Common when hedging specific cash flows
Trading Tips
1
Broken date forwards often have wider spreads
2
Used for precise cash flow hedging
3
Some brokers charge extra for non-standard dates
Related Terms
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