Overview
The Ultra Forward Foreign Exchange Trading refers to forward foreign exchange trading with a delivery term exceeding one year with a minimum trading value per single transaction of USD 1 million or the equivalent.
Features
It meets the needs of customers to lock-in foreign exchange rate risk arising from liabilities with a term over one year.
Procedures
1. The acceptance and execution of the customer's order follows procedures of the "Foreign Exchange Interest Rate Swap".
2. Follow-up processing
· The customer deposits an adequate amount in the currency to be sold on the Forward Delivery Date with the handling branch of ABC. The handling branch debits the customer's account with the amount of the currency to be sold as provided in the contract and credits the account with the amount of the currency to be purchased as provided in the contract.
· The handling branch, the branch, and the Head Office close positions - level by level - and the gains/losses of the transaction are directly reflected over the trading spread.
· The handling branch issues the Notice on the Termination of Foreign Exchange Wealth Managementon the closing date of the trading.
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