A forward rate agreement is similar to a fx forward transaction. In an over-the-counter transaction, one of the parties borrows or lends a predetermined amount of money at a predetermined interest and maturity.

The party who borrows is in a long position, and the party who lends is in a short position. The transaction is essentially financially settled, where the difference between the interest agreed at the time of the transaction and the interest realised at maturity is recorded for the nominal value of the transaction (in a net manner).


  • With this product, it is possible to determine the interest on a credit or a loan in advance.
  • We can fix the price of a short-term security that we want to buy or sell in the future.
  • If we take the FRA, the product can be used as a hedge against falling interest rates; while in the event of a selling, the FRA provides coverage against rising interest rates.


  • If not concluded by the client as a hedging asset, there is a risk of a change in the interest rate level.
  • In the event of an early closure, a loss may occur on the transaction if the interest rate on the underlying product changes in a direction unfavourable to the client.

Download the Product Information


If you would like to become a client of OTP Global Markets, feel free to contact us.

Useful documents

These documents in English language to the person concerned shall be for information purposes only. OTP Bank Plc shall fulfil its obligations imposed by the legal regulations or requirement of supervisory authority by the documents in Hungarian language.
In the event of any discrepancy between the English language and Hungarian language versions, the Hungarian language version shall prevail.

Information on the suspension of the market making obligation (available only in Hungarian)

Commodity swap

Cross-Currency Interest rate swap

Dual currency structured investment

Foreign exchange option

Foreign exchange swap

Forward deal in precious metals (gold and silver) transaction

Forward foreign exchange

Interest rate option

Interest rate swap

Long-Term Investment Account T+3 FORWARD

Spot securities transaction

Stock exchange futures

Stock exchange spot transaction

Securities Lending Transaction

Foreign exchange Orders

Subordinated Securities

EMIR Announcement

EMIR Information for Clients

Notice on the uEMIR Notice se of LEI CODES

Disclosure of information pursuant to Article 11 (11) of the EMIR Regulation

Information for Clients on MiFID

Global Markets ex-ante cost transparency information (available only in Hungarian)

The data to be published on the quality of execution of transactions according to Commission Delegated Regulation (EU) 2017/575 (available only in Hungarian)

Information on the identity of execution venues and on the quality of execution according to Commission Delegated Regulation (EU) 2017/576 (available only in Hungarian)

Systematic internaliser - quotes

Notice on the use of LEI CODES

Direct and indirect clearing services in respect of certain derivative transactions announcement

Key Information Documents – PRIIPs KIDs

Notice - on the impacts of the pandemic emergency on the money and capital markets

Notice - on the collateralisation of long-term investment combined securities account and long-term investment securities account - cash accounts

Notice - about transactions in chinese yuan (RENMINBI)

Terms and conditions and Announcements

Our website cannot be displayed in this browser.

Plesea use one of the newest version from the following browsers: Chrome, Firefox, Internet Explorer or Edge.

Follow the steps below:

  • open a new page in one of the above browsers,
  • copy and insert the link of our website into the adress bar and press Enter,
  • you are ready to browse our website.

If you have any questions, you can contact us by e-mail at !

Ez a böngésző sajnos nem tudja megjeleníteni a honlapunkat. További információk