clients who demand a better exchange rate for cashless exchange that the exchange rate offered in the KB, a.s. exchange list
Characteristics of Currency spot:
A Currency spot operation is purchase or sale of one currency for another currency subject to a rate agreed in advance by the participating parties. Settlement of the transaction takes place as standard with a spot value date, i.e. two working days after the date the transaction is concluded.
Settlement of the transaction can usually be shortened to the next working day or even the day on which the transaction was agreed.
Currency spot can be arranged in all currencies stated in the Komerční banka, a.s. exchange list.
The client can arrange the transaction either with an Investment banking dealer, or via the KB eTrading service.
The table shows the most important differences according to method of conclusion:
Method of conclusion:
Via the Internet
Min. transaction amount:
approx. USD 50.000 or equivalent in another currency
The transaction can be arranged between two of the client's current accounts, in combination with an outgoing/incoming smooth payment, documentary collection or documentary letter of credit
The transaction can be arranged between two of the client's current accounts, in combination with an outgoing smooth payment
The client receives confirmation with the transaction parameters by fax/electronic courier
The application archives the parameters of concluded transactions