BPS forward exchange contract

[The Ruminant]

Who do people use for their forward exchange contracts (ie choosing to take BPS in euros then fixing an exchange rate with a financial institution so that the amount is guaranteed)?

We've traditionally used NatWest, however I've just phoned up and have been advised that, as of August, they no longer do FEX.....Fecks!

Any suggestions?

 

[sleepy]

RationalFX or HiFX normally, play them off against each other.

It's a ridiculously competitive business and I bet NatWest were shafting you anyway.

 

[JonL]

Lloyds would do it last year, didn't need to be a Lloyds customer. Also Moneycorp and Worldfirst.com. Worldfirst are (or were) the firm doing it for CLA. With Moneycorp you have to take the payment in euros. For the others they can achieve the same thing whether you take payment in sterling or euros.

 

[Brisel]

Moneycorp will do £ transactions for hedging the exchange rate for the SFP/BPS. You just need to ask them. I used to do it for a bet on the XR in September - much easier than having a Euro account, forward rate contract then either have the SFP turn up early or very late and have to pay extra to alter the contract completion date.

Moneycorp are represented in TFF @Karl.fawcett @ Moneycorp

 

[Karl.fawcett @ Moneycorp]

@Brisel @JonL Jon, we can happily hedge the £ SFP Payment. I do apologise for the late response, i have been out of the office for the past week or so.. happy to take a call just to explain the service we offer on 0203 823 0368 or email me direct on [email protected]

Brisel, thanks again.

 

[Karl.fawcett @ Moneycorp]

Hi Guys, just wanted to say that i have managed to get a stand a LAMMA next week - stand 724.

Obviously will be around to discuss strategy, process and reasons why hedging your SFP can be beneficial to the business.

My colleague Jordan will be present on the Wednesday, i will be on the stand on Thursday.

Please stop by if you have a few moments.

Best,

Karl
0203 823 0368