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lets take a look at value dates for forward fx deals now we know that if you trade today a spot deal the value date will be two days time two business days time and what if though youre doing a three month deal or a six month deal well where is that three or six month maturity actually gonna land well what happens is it lands three months or six months from the value date so if you do a deal today for spot trade date the 6th of february but the value date is the 8th of february a 3 month deal is going to expire in february march april may may the 8th or june july august august the 8th so just to be very clear its really simple the trade date is the 6th of february the value date is the eighth of february a three-month deal will end on the 8th of may and a six-month deal will end on the 8th of august lets take another example lets just say we trade on tuesday the 22nd of may that means the value date is thursday the 24th of may now were going to do a six month deal which would ma