More NewsNew Way to Optimize Euro and U.S. Dollar Liquidity

New Way to Optimize Euro and U.S. Dollar Liquidity

ABN AMRO Bank has introduced SmartSettleSM, an addition to its euroSmartSM suite of clearing services which allows customers* to optimize their euro and U.S. dollar liquidity through same-day currency conversions. SmartSettle provides flexibility for euro and U.S. dollar payments and receipts by combining three separate trades – spot F/X, 2-day placement and 2-day borrowing – to cover a short position or to concentrate balances in a single currency. Companies utilizing the SmartSettle capability can: – Cover short euro positions with long U.S. dollar positions – Cover short dollar positions with long euro positions – Convert excess balances from one currency into the other to optimize available liquidity – Avoid overdraft charges SmartSettle is valid for exchanges in excess of EUR/USD 5,000,000, and trades must be initiated between 8 a.m. and 9:45 a.m. EST. To facilitate a timely exchange, customers must maintain both a euro and a U.S. dollar account with ABN AMRO Bank, New York.

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