Spot Foreign Exchange Transactions
Introduction
A Spot Foreign Exchange Transaction refers to trading where both parties transact at the agreed exchange rate in the currency market on a trading day, and settle two currencies in two business day(T +2).
Features
Requested by customers, China Merchants Bank New York Branch buys a currency and sells another currency to achieve the conversion with the customers.
Multiple transaction methods: in addition to market orders transactions, the Bank also accepts limit orders from customers.
The Bank offers major currency exchange such as USD, EUR, HKD, GBP, JPY and others, as well as CNH.
Target Customers
Customers who have the need to buy or sell foreign currencies for their settlement of import and export trades or for payments of the L/C margin, etc.
Customers need to open a foreign currency account at China Merchants Bank New York Branch, or use the FX4CASH remittance product of the Branch to achieve conversion between different currencies without accounts.