Interbank conversions (FX Spot and FX Forward)

An interbank currency transaction (FX Spot and FX Forward) is a binding agreement between the banks to buy or sell a specified amount of foreign currency at the exchange rate defined on the date of contract and with the actual supply of the agreed amount at a specified future date.

Software support enables:

  • support for domestic and foreign banks and legal persons,
  • domestic and foreign currency support,
  • nostro account, loro account and settlement account support,
  • execution of corresponding SWIFT messages (MT202, MT210 and MT300),
  • SWIFT and TARGET2 systems support,
  • authorization based on multi-eye, data retyping,
  • automatic processing of orders until transaction maturity,
  • daily or monthly evaluation,
  • accrual of effect according to MRS or ECB reference exchange rates,
  • review of all orders and printouts according to different criteria,
  • review of outstanding claims,
  • current interbank conversions to be taken into account in the preparation of cash flow,
  • automatic processing at FX transaction contract,
  • execution of chosen SWIFT messages in interbank transactions,
  • bookkeeping of off-balance,
  • automatic processing during FX transaction,
  • daily or monthly evaluation according to MRS,
  • automatic processing at FX transaction maturity,
  • reversal of evaluation according to MRS,
  • reconciliation of off-balance bookkeeping entries,
  • balance bookkeeping entries of sold currency.