Contados y Compra/venta de divisa a plazo
With this operation the client acquires the obligation to buy or sell a currency from or to the bank
at a specific price and on a specific date established at the time of contracting
- The buy/sell of forward exchange is a product MiFID qualifier as a complex. It is compulsory for all related documentation to be completed before contracting can occur. It is subject to EMIR regulations.
Advantages of Counted and Buy/sell of forward exchange
With an operation of contadocompra/sale of forward exchange the customer acquires the obligation to buy or sell a currency from or to the bank at a specific price and on a specific date established at the time of contracting.
A cash transaction is made to apply it to operations that are settled dated value two business days of market. Exceptionally, and only in some currencies, you will be able to contract zero value operations on one market working day.
You can contract it directly in Bankia Online Business.
One buy/sell of forward exchange , on the other hand, se carries out to apply it to operations whose maturity date is higher than two business days of market, being a very flexible product when allowing advances (use before the contracted maturity) and extensions (area of the contracted maturity). In both cases the original price is recalculated taking into account the term of the corresponding operation.
For the contracting of one buy/sell of forward exchange is necessary that you have set up a line of risk (Line Comex or Line of Derivatives), that you can contract via the Online Bankia Company.
Seven days before the maturity of the buy/sell of forward exchange will receive a Notification Comex to remember you the maturity and thus have the possibility of applying or associating to any charge operation or international payment.
On the day of the maturity of the operation the quoted price of the currency may be more favourable than that contracted.
In the event of non-compliance of the buy/sell of forward exchange (not application an operation from charge/payment) a settlement will be made for differences, charging or paying into its account the difference between the contracted price and the price of the currency in the day of the non-compliance, in addition to a fee of non-compliance.
The buy/sell of forward exchange is a product MiFID qualifier as a complex, being essential for its contracting the completion of all the related documentation (Classification, Generic Pre-contractual Information, Specific Pre-contractual Information and Appropriateness Test if the client is classified as a retailer).
As it is an MiFID product classified as complex, it is not suitable for all customers. Similarly the buy/sell of forward exchange is subject to the standard EMIR.