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Spot Contract

The most common form of currency exchange.

In brief

A Spot Contract lets you convert currency immediately at the current exchange rate, making a convenient payment on the same day, where possible. Perfect if all your money’s available and you want to move quickly.

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Take a look at our solutions guide to Spot Contracts which explains them our solutions in a little more depth.

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International payments

Receive and hold funds in multiple currencies.

In brief

We can help manage your money any time, from one simple online account and make international payments in over 120 currencies – all for less than doing the same thing with your bank. Because fast, reliable and accurate transfers help you build stronger relationships with your suppliers, partners and employees.

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Take a look at our solutions guide which explains our solutions in a little more depth.

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Forward Contract

Get the security of knowing how much your future expenses will cost.

In brief

If you’re making overseas payments, a Forward Contract lets you fix a price based on the current market rate for buying or selling currencies on a specified date in the future. Forward Contracts are typically used by businesses that have future payments or receipts in foreign currencies, because it protects both your budget and profit margins.

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Our guide to Forward Contracts explains them in a little more depth.

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Market Order

Ideal for making international payments at an unspecified date in the future.

In brief

A Market Order instructs us that you need a specific exchange rate in the future. As soon as that rate is available, we’ll secure it for the amount you want to exchange. There are two different types of Market Orders.

Limit Orders target a specific exchange rate above the current level. If it becomes achievable, your currency purchase will be automatically triggered. Useful for international payments that are not deadline-driven.

Stop Loss Orders specify the minimum exchange rate you’re prepared to trade at. Having a worst-case scenario in place means the cost of your international payments will be protected from volatility, helping you make firmer financial commitments.

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Take a look at our guide to Market Orders which explains them in a little more depth.

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Flexible Forward Contract

A more adaptable way to approach your overseas payments.

In brief

Unlike traditional Forward Contracts (which require a specified date in the future when the amount must be exchanged at your fixed rate), a Flexible Forward contract is more adaptable. It lets you draw down on your currency at any time up to the maturity date of the contract – as long as you draw down the full amount on or before an agreed date.

First, specify the period in which you expect to make or receive payments, along with the total you want to hedge. We’ll help you secure a competitive exchange rate, based on the current market rate. Once you accept the exchange rate, the transaction is agreed, and you can draw down multiple times over the period of the contract.

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Contracts

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Our guide to Forward Contracts explains them in a little more depth.

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One-Cancels-the-Other Order

A pair of orders that are placed simultaneously and linked.

The detail

A One-Cancels-the-Other Order is made up of two orders; a Limit Order (that is more favourable than the current market rate) and a Stop Loss (that is worse than the current market rate).

As soon as the market moves to a rate that triggers one of the orders, the other order is cancelled automatically. For example, if the Limit Order is triggered, the Stop Loss order is cancelled automatically and vice versa. This can be very useful in volatile times, as you’ll only be liable for the first order level that is hit.

More on One-Cancels-the-Other Orders

Get the detail

Our guide to Market Orders which explains them in a little more depth.

Download guide

Structured Products

An approach that could see you benefit from positive market movements

In brief

Structured products can provide the security of a fixed exchange rate and you could benefit from positive changes in exchange rates. Our products include Participating Forwards, Window Forward Extra, Ratio Window Forward Extra and Vanilla Options.

These foreign exchange derivative products do carry a high level of risk however, so they may not be right for you. Make sure you do all you can to understand how they work, and the risks associated before you commit. Get in touch and we’ll put you in contact with one of our specialists if you’d like to know more.

* These products are currently only available for customers based in the UK.

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To learn more about structured products, please contact the team by emailing [email protected]

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