The service provider reports on the exchange rate given for each currency and a comparative rate such as the wholesale rate (whether a spot rate for an individual transaction or a suitable weighted average rate for the period under consideration).
The service provider offers full support for settlement of all foreign exchange trades eligible for Continuous Linked Settlement ('CLS') through CLS Bank. CLS delivers many benefits: elimination of the client's counterparty ('Herstatt') risk; simplification of the settlement process; reduction in the amount of static data required; reduction in messaging traffic and costs; and predicatibility of settlement resulting in the elimination or near-eliminiation of post-settlement issues such as interest claims for late settlement.
A client's account is credited on the due date for settlement of foreign exchange trades in place of the actual settlement date, thus protecting the client from the typically high cost of overdrawing foreign currency accounts.
Foreign exchange advisory services to assist clients in determining the efficacy of holding material foreign currency balances. The scope of the service covers frequent comment plus market studies and in-depth analysis.