Foreign Exchange
FPB’s Foreign Exchange Desk provides the specialized expertise that you need to participate in this increasingly important market and is ready and able to help you execute both spot and forward transactions. Whether the client needs to convert one currency into another in a spot trade, or wants to hedge portfolios against currency risk with a forward trade, FPB’s traders can help. Swaps and options are other alternatives available. The Bank gives its clients a fast and flexible service, using imaginative ideas and a variety of instruments to access the markets. When the client has an account opened at Pershing, currency activity appears on its consolidated brokerage account statements, and they receive confirmations for every FX trade.
The Global Margin capability enables FPB’s clients to hold short currency positions in their brokerage accounts at Pershing. Equally important, the global margin allows the clients to pledge their non-U.S. dollar assets as collateral, increasing their overall buying power.
FPB’s expertise in foreign exchange allows its clients, even if they do not have an account at Pershing, to buy or sell other currencies and also to keep them in demand deposit accounts or time deposits.
The International Wire Transfer service allows clients to receive or transfer funds fast and efficiently.
Drafts, matured bonds, certificates, foreign drafts, checks and passbooks are accepted for collection.
