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Spot Exchange Transactions

Product Name

Spot Exchange Transactions

Product Manual

Spot Foreign Exchange transaction refers to the foreign exchange transactions in which the Bank buys and sells foreign currencies at  spot exchange rate in market on behalf of clients on the day of trading, and carries out the fund settlement on the second business day (T + 2) after the trading day.

Product Features

1.The client entrusts the bank to buy one currency and sell another currency in order to achieve the conversion between different foreign currencies.

2.The major foreign currencies are quoted directly without the conversion through RMB, closer to the market price level, to save transaction costs for clients.

Currencies

The Bank is able to deal in USD, EUR, HKD, GBP, RMB and other major currencies on behalf of clients.

Applicable clients

1.Applicable to the clients with spot foreign exchange dealing requirements;

2.The foreign exchange of small amount cash of individual client can be directly dealed on the counter.

For the process

1.Signing an Agreement: Before dealing Spot Foreign Exchange transaction, the Client need sign Spot Foreign Exchange Authorization with the Bank.

2.Inquiry: The client confirms the details of the Spot Foreign Exchange Transaction in writing form in order to ask for an inquiry.

3.Conclude a transaction: Once the transaction is completed, the bank will send the transaction confirmation letter in writing to the client.

4.Settlement: Carrying out the actual delivery of funds on the delivery date.

Friendly Reminder:

1.If the value date is within non-bank business days, the value date will be extended accordingly;

2.The bank can also do the transactions of T +0 or T +1 according to the demand of client.

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