Spot Forex Transaction
1. Introduction:
Spot Transaction of Foreign Exchange refers to the foreign exchange transaction settled on the second bank working day (T+2) after the foreign exchange transaction has been concluded at the market spot exchange rate of the current day. The settlement day will be postponed if it falls out of the bank working day or during the holidays.
2. Strengths of BIN:
To help the client obtain the fund earlier, BIN can accept the request of settling the transaction on the same day (T+0) or the next day (T+1) when the transaction is concluded.
3. Functions:
Spot Transaction of Foreign Exchange is the most essential form in forex dealings. It's main functions include:
· Spot Transaction of Foreign Exchange can meet the needs of the client to make temporary payment in import and export trade, or non-trading activities like transportation, insurance and travel, etc. The transaction will be executed based on the exchange rate of the international market.
· Spot Transaction of Foreign Exchange can help regulate the structure of the client's foreign currencies on hand so as to divert the foreign exchange risks.
4. Target Clients:
Corporate 、 institutional clients and individuals
5. Currency Varieties:
Main freely convertible currencies of the world including USD, EUR, JPY, GBP, CHF, HKD, AUD and CAD |
