Broken Date

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Broken Date

1. In foreign exchange, a term for a futures contract or other derivative with an unusual delivery date. For example, a forward contract to buy U.S. dollars 54 days in the future is said to have a broken date.

2. An unusual value date. A value date is the delivery date in a eurocurrency or foreign exchange transaction and is usually a standard period such as one week or one month. A broken date, then, may be a value date 13 days after the trade date.