Foreign Exchange Contract

WireXchange and International FX Clients Only. The Foreign Exchange Contract functionality in Wire Manager enables you to access the foreign currency that the system uses for international wire transfers. When the system generates a Foreign Exchange Contract, you can transfer the funds requested by using an International FX Wire Transfer. The system extends you the ability to establish, review, or cancel a Foreign Exchange Contract within Wire Manager.

The following sections display on this page:

Client List

Foreign Exchange Contract List

User List

Foreign Exchange Contract Inquiry

Foreign Exchange Rate Inquiry

Foreign Exchange Contract Confirmation

Wire Transfer Summary

Client List

Name

Name of the client

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Foreign Exchange Contract List

Description

Name of the foreign exchange contract

Currency

Currency code approved by the International Organization for Standardization (ISO) of the currency denomination

Beneficiary Delivery Date

Date that the system delivers the foreign exchange contract to the beneficiary

USD Amount

Amount of the foreign exchange contract in the US currency code format

Status

Status of the foreign exchange contract. The following table lists the values.

Available

indicates that the foreign exchange contract is available for international foreign exchange wire transfers

Processed

indicates that the system processes the foreign exchange contract that it associates with the international foreign exchange wire transfer

Canceled

indicates that the institution successfully canceled the foreign exchange contract

Expired

indicates that the foreign exchange contract did not process within the beneficiary delivery date

Saved

indicates that the institution successfully saved the foreign exchange contract and it is available to process

New Transfer

Click to generate a new international FX wire transfer after the system approves the foreign exchange contract.

Cancel Contract (hyperlink)

Click the Cancel Contract hyperlink to cancel a foreign exchange contract.

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User List

Name

Name of the user that the system associates with the financial institution

User Code

User code of the wire user

User Type

User type of the wire user. The following table lists the values.

Corporate

indicates that corporate banking employees can access wire transfers

Consumer

indicates that consumer banking customers can access wire transfers

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Foreign Exchange Contract Inquiry

Description

Name of the foreign exchange contract

Tax Identification Number

Tax identification number of the account owner at the Originating Depository Financial Institution (ODFI)

From Account

Account name or account number of the account at the Originating Depository Financial Institution (ODFI)

Beneficiary Delivery Date

Indicates the number of business days that the system delivers the transfer to the beneficiary. The following table lists the values.

[Cash] Current Business Day

indicates that the system delivers the transfer to the beneficiary on the current business day

[Spot] Two Business Day

indicates that the system delivers the transfer to the beneficiary in two business days

[Tom] One Business Day

indicates that the system delivers the transfer to the beneficiary in one business day

Exchange Rate

Exchange rate that the system uses to execute the foreign exchange conversion to the foreign wire transfer

USD Amount

Amount of the foreign exchange contract in the US currency code format

FX Amount

Dollar amount of the foreign exchange contract

FX Currency

Currency code approved by the International Organization for Standardization (ISO) of the currency denomination

Trade Date

Origination date of the foreign exchange contract

Contract Number

Number that the system assigns to the foreign exchange contract

Purchased By

User name of the issuer of the foreign exchange contract

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Foreign Exchange Rate Inquiry

Description

Name of the foreign exchange contract

Tax Identification Number

Tax identification number of the account owner at the Originating Depository Financial Institution (ODFI)

From Account

Account name or account number of the account at the Originating Depository Financial Institution (ODFI)

Beneficiary Delivery Date

Indicates the number of business days that the system delivers the transfer to the beneficiary. The following table lists the values.

[Cash] Current Business Day

indicates that the system delivers the transfer to the beneficiary on the current business day

[Spot] Two Business Day

indicates that the system delivers the transfer to the beneficiary in two business days

[Tom] One Business Day

indicates that the system delivers the transfer to the beneficiary in one business day

FX to USD

indicates that the system converts the International FX contract from a foreign currency to US dollars

USD to FX

indicates that the system converts the International FX contract from US dollars to a foreign currency

Exchange Amount

Amount of the Foreign Exchange Contract

USD Amount

Amount of the foreign exchange contract in the US currency code format

FX Amount

Dollar amount of the foreign exchange contract

FX Currency

Currency code approved by the International Organization for Standardization (ISO) of the currency denomination

Disclaimer

Message that you want the system to display for a Foreign Exchange Contract

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Foreign Exchange Contract Confirmation

Description

Name of the foreign exchange contract

Tax Identification Number

Tax identification number of the account owner at the Originating Depository Financial Institution (ODFI)

From Account

Account name or account number of the account at the Originating Depository Financial Institution (ODFI)

Beneficiary Delivery Date

Date that the system delivers the foreign exchange contract to the beneficiary

Exchange Rate

Exchange rate that the system uses to execute the foreign exchange conversion to the foreign wire transfer

USD Amount

Amount of the foreign exchange contract in the US currency code format

FX Amount

Dollar amount of the foreign exchange contract

FX Currency

Currency code approved by the International Organization for Standardization (ISO) of the currency denomination

Contract Number

Number that the system assigns to the foreign exchange contract

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Wire Transfer Summary

The Error box indicates that the system did not process or save the wire transfer with an error message.

The Warning box indicates that the system generates the wire transfer with a warning message.

The Successfully Processed box indicates that the system successfully processes or saves the wire transfer.

Transfer Description

Name of the wire transfer

Effective Date

Date that the system processes the wire transfer

Amount

Amount of the wire transfer

Reference Number

Reference number that the system assigns to the wire transfer

Wire Number

Identification number that WireXchange assigns to the wire transfer

See Also:

Establishing Foreign Exchange Contracts

Inquiring into Foreign Exchange Contract Transfers

Canceling Foreign Exchange Contracts