Can We Take Your Order?

471920189Order, hedge, aggregate …sounds like a bunch of jargon, right? Maybe. But, a little jargon is necessary and getting to know these terms can help you talk to your members about foreign exchange trading.

An Order allows your member to take advantage of short-term market fluctuations by buying or selling funds at a specific target exchange rate. When an Order is placed, the member outlines the amount of funds to buy or sell and the specific exchange rate at which to buy or sell. Once the market hits the target exchange rate, the order is ‘filled’ and settled as a Spot transaction.

Generally, Orders are placed with one of two instructions:

  1. Good until filled or cancelled
  • the Order remains outstanding for as long as it takes for the market to hit the targeted exchange rate with the added flexibility to cancel the Order at any time
  1. Good until a specific date and time
  • the Order will fill if the market hits the target exchange rate or automatically expires on the date and time specified

Business owners who are buying and selling products in the U.S. require foreign exchange services. Orders are a great tool that allow business owners to source specific exchange rates without spending valuable time watching the market.

Would your credit union like to add foreign exchange services to your menu of offerings? With our industry-leading foreign exchange services and experts, we can make that easy and profitable for your credit union. Find out how by contacting the Concentra FX team or 1-306-566-1747.

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