Spot Foreign Exchange Deal

Introduction

Foreign exchange spot deal refers to a foreign exchange deal in which Bank of China Rotterdam Branch buys or sells foreign exchange at the spot exchange rate on behalf of the customers, and delivers the relevant funds on the second working day after transaction (T+2).

Features

1. Entrusted by customers, the Branch buys one currency and sells another to achieve the conversion between different foreign currencies;

2. This product implements a direct quotation among major currencies without intermediate conversion through RMB, which is closer to the market price and will reduce the transaction costs for customers.

Currency

Bank of China Luxembourg Branch buys and sells USD, EUR, HKD, GBP, RMB and other major currencies on behalf of the customers.

Target Customers

1. Customers in need of foreign exchange spot deals.

2. An account in Bank of China Rotterdam Branch is required for customers; personal customers can make exchange of small foreign currency cash over counter.

Procedure

1. Signing the agreement: before handling foreign exchange spot deals, customers shall sign the Agreement on Exchange-guaranteed Trade and Forex Trading Application Form with the Branch;

2. Inquiry: customer shall make inquiry to Bank of China by confirming the details of forward exchange trading in the form of written entrustment;

3. Conclusion of transaction: once the transaction is completed, Bank of China Rotterdam Branch will deliver the written transaction confirmation to customers;

4. Delivery: the actual fund delivery is carried out on the settlement date.

Tips

1. The value date will be postponed in case of non – banking day;

2. If requested by customers, Bank of China Rotterdam Branch can provide foreign exchange spot deal of which the conclusion day is the same with value date, or the value date is the day after conclusion day.

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