The DSB supports the creation of ISINs for several types of FX Forwards*:

FX Forward:
• Where both currencies are deliverable.

Non-Deliverable Forward (NDF):
• Where one or both currencies are non-deliverable (in the context of the trade) and require a Settlement Currency.

Non-Standard Forward:
• Where the FX Forward does not adhere to the standard instrument structure or
• Where the FX Forward is based on an Offshore variation of a non-deliverable currency (such as the Chinese Yuan/Renminbi). In this situation the Offshore variation of the currency requires a Place of Settlement to
provide a complete definition since the currency is not included in the ISO 4217 currency list.

* In addition to the above, the DSB also supports a number of specialised FX Forward products: Vol Var, Contract For Difference, Rolling Spot, Spreadbet and these fall outside the scope of this note.