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Flexi FX Forward
Fix an FX rate now, trade in the future
In a flexible FX forward, the client has an obligation to sell one currency and buy another currency at a pre-agreed rate, and the fulfilment of the obligation can be done in parts (utilizations). In the case of a flexible FX forward, the client has an obligation to sell one currency and buy another currency by a certain future date at a pre-agreed rate with the possibility of partial performance for the term of the agreement.
Features of Flexi FX forward
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Obligation for full performance to maturity
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Possibility for partial executions of the transaction
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Protection against adverse market movements
Example: The client enters into a flexible FX forward, with the obligation to sell EUR 1,000,000 and buy USD 1,190,000 by 30.11.2017 (maturity). The client makes 3 disbursements during the period: on 10.09 for EUR 200,000, on 01.10 for EUR 500,000 and on maturity (30.11) for the remaining EUR 300,000. The disbursements are made at the pre-agreed exchange rate for EUR / USD - 1.1900.
Target market of the product
The Flexi FX forward is a financial instrument, which the Bank manufactures and distributes as a product. The table below sets out the criteria for determining for which client profile the product is compatible with or not.
|
Positive |
Negative |
Type of clients |
all types of clients: retail, professional and eligible counterparties |
|
Clients’ knowledge and experience |
- the movement and the possible expectations regarding the hedged reference values; - lost profits or realized losses related to a negative change in reference values; - hedging cash flows by entering a Flexi FX forward in relation to future receipts or payments on liabilities; - the process of permanent collateral maintenance |
does not meet the indicated knowledge and experience requirements |
Clients’ financial situation with a focus on the ability to bear losses |
ability to bear a negative result due to FX rate change within the term of the instrument and its maturity and/or on the date of partial or full take-up |
|
Clients’ risk tolerance and compatibility of the risk |
low-risk profile, due to the ultimate objective to fix the FX rate to the expected receipts/payments |
inclined to bear the risks of negative deviations of the reference values |
Clients’ objectives and needs |
hedging adverse FX rate fluctuations or speculating |
|
Contact dealers:
Treasury Sales Department
Deyan Mankovski – Head of the Treasury Sales Department – 02 80 10 862
Kalina Mays – Head of FX Unit, Treasury Sales Department – 02 97 66 233
Milena Lukanova – Senior Dealer, Treasury Sales Department – 02 97 66 232
Oktay Hasanov – Senior Dealer, Treasury Sales Department – 02 97 66 236
Hristo Arnaudov – Dealer, Treasury Sales Department – 02 93 91 364
Velichko Dimov – Dealer, Treasury Sales Department – 02 93 91 126
Kalina Yankova - Dealer, Treasury Sales Department – 02 93 91 133
Hristo Sugarev – Head of Asset Management Unit, Treasury Sales Department – 02 93 91 133
Ivelin Ivanov – Senior Dealer, Treasury Sales Department – 02 93 91 365
Martin Georgiev – Dealer, Treasury Sales Department – 02 97 66 234
Documents
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Key Information Document Flexi FX Forward
PDF file
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Product Description Flexi Forward
PDF file
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Information on Costs FX SWAP
PDF file
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