Establishing Foreign Exchange Contracts

You can establish a new Foreign Exchange Contract in Wire Manager by using the Foreign Exchange Contract functionality.

To establish a new Foreign Exchange Contract:

1. Open Wire Manager Transfers. The system displays the Select Wire Transfer Criteria page.

2. Select Foreign Exchange Contract, and then click Submit. The system displays the Client List.

3. Click the Name hyperlink that the system associates with the foreign exchange contract that you want to establish. The system displays the Foreign Exchange Contract List.

4. Click in the Foreign Exchange Contract List header to establish a new foreign exchange contract. The system displays the User List.

Click in the New Transfer column that the system associates with the foreign exchange contract that you want to use to establish a new wire transfer.

5. Click the Name hyperlink that the system associates with the User Type that you want to use to establish a new foreign exchange contract. The system displays the Foreign Exchange Rate Inquiry page.

6. Complete the following fields.

Description	Type the name of the foreign exchange contract (for example, Lincoln Farms).
Tax Identification Number	Select the tax identification number of the account owner at the Originating Depository Financial Institution (ODFI).
From Account	Select the account name or account number of the account at the Originating Depository Financial Institution (ODFI).
Currency	Select the currency code that the International Organization for Standardization (ISO) approved for the currency denomination.
Beneficiary Delivery Date	The number of business days before the system delivers the transfer to the beneficiary. [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
Conversion	Select the type of currency conversion for the foreign exchange contract. FX to USD indicates that the system converts the foreign currency to US dollars USD to FX indicates that the system converts US dollars to the foreign currency
Amount	Type the US dollar amount that the system uses to convert funds of the foreign exchange contract.
Disclaimer	Type the message that you want the system to display for a foreign exchange contract.

7. Click Next. The system displays the Foreign Exchange Rate Inquiry page.

8. Click Accept. The system displays the Foreign Exchange Contract Confirmation page.

If you do not want to accept the transaction, click Decline.

9. Click Make a Transfer Now. The system displays the Select Wire Transfer Criteria page.

By clicking Make a Transfer Later, you can establish the International FX Wire Transfer by using New Wire Transfer, Foreign Exchange Contract, or Wire Transfer Template functionality in Wire Manager. The system must process the International FX Wire Transfer by the Beneficiary Delivery Date.

10. Select Change Wire Transfer, New Wire Transfer, New Wire Transfer Using Existing Transfer, or Wire Transfer Template, and then click Submit. The system displays the New International FX Wire Transfer page.

11. Type the Transfer Description of the International FX Wire Transfer.

12. In the Foreign Currency Information section, complete the following field.

FX Contract

The system displays the foreign exchange contract that you establish. Click to add a new foreign exchange contract.

13. In the Beneficiary Institution section, complete the following fields.

Swift/BIC	Type the Society for Worldwide Interbank Financial Telecommunication (SWIFT) code of the beneficiary's institution.
Country	The system displays the country that it associates with the beneficiary institution.
Transit Code	Type the transit code of the international institution.
Name	Type the name of the beneficiary's institution.
Address	Type the address of the beneficiary's institution.

14. In the Beneficiary section, complete the following fields.

Account	Type the beneficiary's account number.
Name	Type the beneficiary's name.
Address	Type the beneficiary's address.
Beneficiary Reference	Type the alphanumeric identification code that the system assigns to the beneficiary.
Country	Select the beneficiary's country.
Message to Beneficiary	Type a message that the system sends to the beneficiary from the Originating Depository Financial Institution (ODFI).

15. In the Receiving Institution section, complete the following fields.

Routing/Transit number	Type the routing transit number of the Receiving Depository Financial Institution (RDFI).
Institution Name	Type the name of the Receiving Depository Financial Institution (RDFI).

16. In the Financial Institution to Financial Institution Message section, complete the following field.

Financial to Financial Institution Message

Type a message that the system sends from the Originating Depository Financial Institution (ODFI) to the Receiving Depository Financial Institution (RDFI).

17. Click Save or Process. The system displays the Wire Transfer Summary page.

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.

18. Click Done. The system displays the Select Wire Transfer Criteria page.

19. Repeat steps 2 through 18 to establish additional foreign exchange contracts.

20. Click Log Out.

See Also:

Foreign Exchange Contract