A Foreign Exchange (FX) Order is a service provided by Customer Treasury Services to help customers manage their foreign exchange exposures. FX Orders are used by businesses aiming to achieve a specific exchange rate in order to protect or maximise profitability on trade transactions, and we will work closely with you towards achieving your business objectives. FX Orders can also be used by individuals aiming to achieve a specific exchange rate for a transaction such as the purchase or sale of an asset denominated in a currency other than euro.
Customers who wish to achieve a specific exchange rate may leave an order with us to exchange a fixed amount of one currency for another currency at a specific rate, above or below the current rate. The main advantage of using this service is that your order will run 24 hours a day (excluding weekends and holidays) and therefore there is a greater probability of the Bank being able to provide you with the rate you have ordered. You may cancel or amend your order at any time before the ordered rate trades and has been booked by us. On execution, the Order will be transacted as a Spot Foreign Exchange rate.
Orders can be placed either directly with Customer Treasury Services, or via your Primary Relationship Manager if you have not already completed registration documents to deal directly with Customer Treasury Services. Once your order is executed, we will advise you immediately or on the next business day if your order level trades overnight.