Foreign Exchange
Our foreign exchange service provides you with easy access to a number of banks offering market exchange rates for any tradable pair. In order to take advantage of the finer pricing these banks offer, MPC assist in arranging a face-to-face meeting with the counterparty bank and overseeing the setting up of a formal foreign exchange facility with them. Facilities are available for both spot and forward deals.
The facilities are, in the majority of cases, offered on the basis of our clients’ balance sheet strength and so neither margins, liens nor security is usually required. Clients remit the currency sold, prior to the bank remitting the counter currency bought, and vice-versa (cleared funds basis).
Whether you choose to deal through us, or directly with our banks, this additional source for foreign exchange dealing will almost certainly result in keener pricing for each deal - thus improving your company’s profitability and competitiveness. There are no set-up costs or fees from our counterparty banks or ourselves. You achieve maximum benefit through our competitive foreign exchange rates. Our remuneration comes from the banks and is based on the total value of the trade.
Most of the banks that we deal with are able to take “orders”. This means that whilst you are waiting for the spot rate to reach a certain level (maybe a budget rate), these “orders” can be passed around the world for 24 hours, so that your deal could be executed at 2.00am next morning in the Far East Market (eg. Seoul or Tokyo).