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In forex trading, currencies are listed in pairs, such as USD/CAD, EUR/USD, or USD/JPY. These represent the U.S. dollar (USD) versus the Canadian dollar (CAD), the euro (EUR) versus the USD, and the USD versus the Japanese yen (JPY). There will also be a price associated with each pair, such as 1.2569.

There are three types of settlements in forex trading ? immediate, same-day, and next-day. The type of settlement depends on the currency pair being traded and the time at which the trade is executed.

Currency describes the money or official means of payment in a country or region. The best-known currencies include the U.S. dollar, euro, Japanese yen, British pound and Swiss franc.

The mark to market losses or profits are directly debited or credited to the CMs clearing bank account. On the expiry of the futures contracts, NSE Clearing marks all positions of a CM to the final settlement price and the resulting profit / loss is settled in cash.

Settlement of daily mark to market is carried out on T+1 day basis. Final Settlement is carried out on T+2day basis. Members with a funds pay-in obligation are required to have clear funds in their primary clearing account on or before 8.30 a.m. on the settlement day.

The presentment currency is the currency that's used for charges. The settlement currency is the currency that you can receive payouts in, depending on the charge type and applicable currency conversion.

The Local Currency Settlement (LCS) System allows exporters and importers to transact in their respective domestic currencies and promote investments and remittances between the two countries. LCS helps in reducing dependency on international currencies.