Tom next(redirected from Tomorrow Next)
Also found in: Acronyms.
Means to "tomorrow next". In the interbank market in Eurodollar deposits and the foreign exchange market, the value (delivery) date on a tom next transaction is the next business day.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Short for "tomorrow next;" referring to a eurocurrency or foreign exchange transaction in which delivery of the underlying currency occurs the following trading day. Tom next transactions occur on the interbank market.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved