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rolling spot forex contract

    either of the following:

      1. (a) a future, other than a future traded or expressed to be as traded on a recognised investment exchange, where the property which is to be sold under the contract is foreign exchange or sterling; or
      1. (b) a contract for differences where the profit is to be secured or loss avoided by reference to fluctuations in foreign exchange; and

    in either case where the contract is entered into for the purpose of speculation.538