Using Spot Trade
To get a quote, you enter the payment and settlement currencies and the amount. Spot Trade displays the current rate of exchange and the resulting valuation. If you decide to go ahead with the transaction, you can book the trade at that rate. Once the trade is booked, you enter the payment details and finish the trade.
See the videoTo use Spot Trade
- In the section, from the dropdown, choose the currency you want to buy.
- From the dropdown, choose the currency you will use to settle the deal.
- In the field, enter the amount you want to buy.
- If the and the currencies are not the same, use the
locked icon to determine which currency you want to lock. The value that you enter in the field is considered to be in whichever currency is locked. By default, the currency is the one that is locked. To change the lock setting, simply click the 
unlocked icon and the unlocked icon changes into a locked icon.
If you lock the field, the value in the field is the amount of the payment currency that you want to send to the beneficiary. If you lock the field, the value in the field is the amount you will use to settle the deal, and the beneficiary will receive the result of converting the settlement amount into the payment currency. - Alternatively, you can click to review previous deals.
To select a previous quote, click an item in the column. The amount and currency details from that quote are used to populate the fields. By default, the system locks whichever currency was locked in the original quote, but you can change the locked currency if you want.
Important: When you select a previous deal, the currency and amount fields are populated with the details from the previous quote. The rate that is used will be the current rate, not the previous rate. - Click .
The conversion rate and the resulting amounts are displayed. The timer indicates the amount of time you have to book the deal at the displayed rate.
Note: If the value of the trade violates your personal trade limits or your organization's trade limits (per transaction or cumulative daily total), you will not be able to book the deal. You will see an error message at the top of the page letting you know that the amount is over the transaction limit. For information on trade limits, see Setting trade limits for a user. - Click to confirm the rate and submit the deal.
A dialog appears to let you know that your deal has been booked.
- Click to proceed to the screen where you can finish the deal you just booked.
Alternatively, click if you have more than one deal that you want to complete at the same time. - Proceed to the section Finishing a Spot Trade .
EXAMPLE
In this example, the currency (USD) is locked. You can see that the locked icon appears beside the field. This means that USD $50,000.00 will be converted to CAD. At the displayed rate, the beneficiary will receive CAD $62,150.00 and it will cost USD $50,000.00 to settle the deal.
EXAMPLE
To obtain a quote where the beneficiary receives exactly CAD $50,000.00, click the icon beside the field to lock the payment currency, which is . Notice that the locked icon is now beside the field. The beneficiary will receive CAD $50,000.00 and it will cost USD $40,225.26 to settle the deal.