In the event of a Forward FX Contract, the Client shall immediately (in the normal course of events within 24 hours after the Order is placed unless otherwise agreed) pay into the Transaction Account in cleared funds a Margin of 10% of the full amount of the sold currency, or such other percentage as we may specify at our sole discretion and will pay any outstanding balance of the sale currency into the Transaction Account not later than one Business Day before the Delivery Date of the particular Forward Trade. Any margin held by Clear Treasury will be lodged against the forward position of the client held in the name of Clear Treasury. The client acknowledges that this money will not be covered by the client money rules. At our discretion we will call the client if the mark to market reaches 5%.
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