Overview of our capabilities in Russia:
- FX transactions with value dates TOD, TOM and spot.
- FX swap and FX forward transactions.
- Live prices for most actively traded currencies, including that of Central and Eastern Europe (PLN, CZK, HUF) and China (CNY and CNH).
- Competitive quotes on major convertible currencies
- Market orders, limit orders, stop loss/take profit orders.
- Payments in currency other than currency of account (hidden conversion), e.g. EUR payment from USD current account.
- First-class FX&IR Research from Moscow and London-based team and market updates from FX&IR desk.
- Outgoing payments value TOD trading hours USD/RUB 09:00 - 16:00, EUR/RUB 09:00 - 15:00 (Moscow time). For outgoing payments value TOM trading hours USD/RUB and EUR/RUB 09:00 - 17:15 (Moscow time). Trading hours may be extended upon request.
Trade pre-requisites
- Settlement limits
- Agreement in place
Money market (MM) deposits
ING Commercial Banking in Russia capabilities:
- Fixed rate deposit.
- Dual currency deposits
- Currencies: USD, EUR and RUB; other currencies at request
- Tenors: from overnight
Trade pre-requisites:
Dual currency deposits
- These deposits earn improved interest rate which is paid on condition that at maturity deposit amount can be paid in pre-agreed alternative currency at pre-agreed FX rate at the Bank's discretion.
- Designed for clients that have operational needs in two currencies and assume that no FX conversion of alternative currency into original one will take place.
- The improvement interest rate is determined by selected FX rate.
- For deposit in USD with conversion into RUB – if one business day before maturity date spot rate is equal or higher than pre-agreed FX rate, then deposit amount is paid in alternative currency. If spot rate is lower than pre-agreed FX rate, then deposit amount is paid in original currency. In both cases the client receives improved interest rate.
FX hedging
ING Commercial Banking in Russia capabilities:
- FX Forwards (Deliverable and Non-Deliverable), FX Swaps, FX Options, Cross-Currency Swaps (CCS), Structured Products up to 10 years, subject to market liquidity
Trade pre-requisites
- Pre-settlement and settlement limits
- Agreement in place
Interest rate (IR) hedging
ING Bank capabilities:
- Interest rate swaps (IRS), forward rate agreements (FRA), cross currency swaps (CCS)
- Currencies: USD, EUR and RUB and more than 20 others
- Tenors up to 10 years (subject to market liquidity)
Trade pre-requisites
- Pre-settlement and settlement limits
- Agreement in place
IRS
- Agreement between two parties on exchange of interest rate payments for a pre-agreed period of time.
- The contract allows to exchange floating rate into fixed and vice versa.
- No exchange of principal is involved, as both legs are in the same currency.
- Irrespective of the reference rate on the settlement date, the Buyer of IRS pays pre-agreed swap rate and
- The Seller pays the hedged interest rate.
Cross currency swap
- Agreement between two parties about exchange of principal and interest rate payments for pre-agreed period of time in two different currencies.
- Principal may be exchanged: at the beginning and in the end of trade; only at the beginning; only in the end; no exchange of principal at all (exchange of interest payments only)
- This trade allows exchange of cashflows (fixed or floating) in one currency into cashflows (fixed or floating) in another one.
- Irrespective of the reference rate on the settlement date, the Buyer of the cross currency swap pays pre-agreed swap rate, and the Payer pays the hedged interest rate.