The Spot Market

e-mail once the cash transaction meets the requirements of the Exchange Control, the application process for spot can be made in writing (giving specific information about transactions in a .. ..

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The Spot Market
A spot transaction is the exchange of one currency for another currency, fixed immediately in respect of an underlying foreign exchange commitment, at a specified rate, where settlement takes place two business days later. The two day settlement process is due to the fact that the bank requires two business days notice to process payments due to time zones and currency cut-off times. In instances where urgent payments / receipts are to be processed, one-day value or even same-day value rates of exchange may be provided depending on currency cut-off times. It is also commonly known as Spot Cover.

Download The Spot Market pdf from ws9.standardbank.co.za, 2 pages, 500KB.