A forward is a contract in which both parties agree upon and are obliged to buy or sell an asset at a given price, on a specific date and time, and with pre-established delivery conditions. These contracts also have the following features:

- They are private contracts.

- They are traded OTC.

- They have a credit risk.

- They are not regulated.

- They are flexible in terms of dates and amounts.

The clients involved in this type of trade are financial institutions in Mexico, the United States and Europe that trade derivative products, in this case, USD/MXN.

The main variables that affect quotations on this product are the spot exchange rate and interest rates in both pesos and dollars.