Spot date

In finance, the spot date of a transaction is the normal settlement day when the transaction is carried out as soon as practical, i.e. "on the spot".[1] This kind of transaction is called a "spot transaction" or simply "spot", and is often described as such in contrast to a transaction which is not settled immediately, such as a futures contract or a forward contract.

  1. ^ UNDERSTANDING ACCOUNTING AND FINANCE: THEORY AND PRACTICE, p.401