Spot Transaction - This type of contract is a simple, best rate available now type of transaction. GCS will guarantee your exchange rate with a ‘spot deal’. Most of our clients will use this when they need to get the very best rate and need to send the payment on promptly.

Forward Contract - These transactions are used to ‘fix’ exchange rates in advance of the requirement date. A rate is agreed upon and a small deposit held (for our security – between 5 & 10%). The remainder of the money can sit in your account and earn interest! There are two main types of forward contracts and they can both be used to ‘fix’ rates upto 2 years in advance.

Fixed Forward Contract - This is where we agree to buy/sell a fixed amount of currency on a fixed date in the future.

Time Flexible Forward Contract - This is similar to a fixed forward but has greater flexibility around the dates you need the contract to mature. i.e. You can specify when you think you may need the currency within a 90 day window – this allows you to ‘fix’ your exchange rate whilst retaining the flexibility to draw down some of all of your funds over a period of time.

Market Order - Order can be placed with your dealer so that ‘if’ something happens in the market a certain transaction is contractually placed. This may be good if you think rates are going to rise and you didn’t want to miss out if the level was breached at 3am! Conversely, you can place orders to prevent major losses and help protect yourself if rates suddenly become less favourable. They are very useful tools!