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Frankfurt Airport [1] (IATA: FRA) is among the busiest in Europe â third in passenger traffic after London Heathrow and Paris Charles de Gaulle Airport â and the ninth busiest airport in the world. Frankfurt is the banking center of Germany and hosts numerous international trade fairs.
Definition. FRA. A forward contract that specifies an interest rate to be paid on an obligation beginning on some future date. Any gain or loss on the contract is treated as a similar gain or loss on a futures or options contract would be.he contract will determine the rates to be used along with the termination date and notional value. On this type of agreement, it is only the differential that is paid on the notional amount of the contract.