Value date - "Value date" is/means for a spot transaction. It is two-business banking days forward in the country of the bank providing quotations, which determine the spot value date.

The only exception to this general rule is the spot day in the quoting center coinciding with a banking holiday in the country(ies) of the foreign currency(ies). The value date then moves forward a day.

Value spot - A "value spot" is usually settlement for (two working days) from today. See value date.

Volatility - "Volatility" is a measure of the amount by which an asset price is expected to fluctuate over a given period.

Vostro account - A "vostro account," is a local currency account maintained with a bank by another bank. The term is normally applied to the counterparty's account, from which, funds may be paid into or withdrawn, as a result of a transaction.