TicketNotionalValue
High
Number of Tickets Low
One-off high valueTransactionsValue Drivers: Best execution is the priority,remains in the relationship channel, selecting one bank counterparty with sufficient liquidity to manage the transaction with minimal market impact. Algorithmic Trading can play a role.
Core day to day treasurytransaction management Value Drivers: Best price, speed of execution, netting and allocation to relationship banks. Straight through processing to reduce costs. Autobahn Treasury
“under the radar” TransactionsValue Drivers: Low cost, integrated processing, transparent and consistent pricing. Allocation across multiple bank counterparties adds costs, reduces netting benefits and has low value to the banking partners as well. Best serviced via a single bank relationship – FX4Cash
High
Low
Active Trading TreasuryValue Drivers: Fast execution is the priority. Online services/ functionality in Autobahn FX
Deutsche Bank e-commerceA segmentation approach to FX
Tailored solutions to
tailored requirements
Deutsche Bank: The World's Best FX Bank
DB has 26.4% market share in electronic FX trading 18.06%
11.30%11.08%
7.69%6.50%
6.35%
DB UBS Barclays Citi RBS JP Morgan
Ma
rke
t S
ha
re
Euromoney Survey 2010Euromoney Survey 2010
The challenges keep on coming
• Liquidity management
• Centralisation
• Volatility in markers and in forecasts
• Counterparty risk / credit risk
• Optimisation of cash – pooling and effectively managing cash
Globalisation - operating a 24 hour treasury centre, operational risk
Benchmarking a treasury’s performance
Reducing per ticket cost of execution
Maximising netting across the group of companies/exposures
Accounting concerns - IAS39, GAAP, FASB
Technology – opening more doors
European Payments Directive initiatives
Legal issues as more currencies join the EURO
What is FX4Cash?
A cross-currency payment solution – Enable you to make and receive payments in 125 currencies
without having to maintain foreign currency accounts
A streamlined process – Allow you to handle small value, repetitive cross-border payments
efficiently and cost-effectively
A strong value proposition – Combine Deutsche Bank’s leading Foreign Exchange (FX) offerings
and payment capabilities
Receivables– Convert incoming FX payments into the base currency of your choice– Credit to your account at DB or with another bank
Active Client Funding– Use FX4Cash, without having accounts in DB– Client sends funding directly from their acc in another bank to DB LDN
Show Me How to…1. Format and Identify my SWIFT Message
How to Specify Payment Amt and Currency
Identify the foreign currency and amt – Commonly used if you received a Daily Rate
Sheet and calculated the conversion amount– Currency and amount to be supplied in Field 32A– Example: :32A:080402GBP1300– Client is debited for GBP equivalent amount from
the base currency account– Standard SWIFT Method
Identify the base currency and amt– When you only know the base amt and currency:
– :32A: 080402GBP0,– :33B: EUR1000,
– Indicates the foreign currency amount to be paid to beneficiary is GBP equivalent of EUR1000.
How to Identify FX4Cash Payments
Send payments directly to FX4Cash SWIFT address: DEUTGB2LF4C
- OR -
Send payment to the same BIC address you use for EUR, USD or GBP payments (e.g. BKTRUS33 for USD) and include the following codeword:
Field 72: /DBF4C/
Show Me How to…2. Book LIVE FX Rates for Outgoing Payments
ALL Albanian LekDZD Algerian DinarAOA Angola KwanzaARS Argentine PesoAMD Armenian DramAUD Australian DollarBSD Bahamian DollarBHD Bahrain DinarBDT Bangladesh TakaBBD Barbadian DollarBYR Belarusian RubleBZD Belize DollarBOB Bolivian BolivianoBAM Bosnia Herzegovina MarkaBWP Botswana PulaBRL Brazilian RealGBP British PoundBGN Bulgarian LevBIF Burundian FrancKHR Cambodian RielCAD Canadian DollarCVE Cape Verdean EscudoXOF Central African States CFA Franc BCEAOXAF Central African States CFA Franc BEACCLP Chilean PesoCNY Chinese YuanCOP Columbian PesoCDF Congolese Franc CRC Costa Rican ColonHRK Croatian KunaCZK Czech Republic KorunaDKK Danish KroneDJF Djiboutian FrancDOP Dominican PesoXCD Eastern Caribbean DollarEGP Egyptian PoundERN Eritrean NakfaEEK Estonian KroonETB Ethiopia BirrEUR EuroFJD Fijian DollarGMD Gambian Dalasi
GEL Georgian LariGHS Ghanaian CediGTQ Guatemalan QuetzalGNF Guinean FrancGYD Guyanese DollarHTG Haitian GourdeHNL Honduran LempiraHKD Hong Kong DollarHUF Hungarian ForintISK Icelandic KronaINR Indian RupeeIDR Indonesian RupiahIQD Iraqi DinarILS Israeli ShekelJMD Jamaican DollarJPY Japanese YenKZT Kazakhstan TengeKES Kenyan ShillingKRW Korean WonKWD Kuwaiti DinarLVL Latvian LatsLBP Lebanese PoundLSL Lesotho LotiLRD Liberian DollarLTL Lithuanian LitasMKD Macedonian DinarMGA Malagasy AriaryMWK Malawi KwachaMYR Malaysia RinggitMRO Mauritanian OuguiyaMUR Mauritius RupeeMXN Mexican PesoMNT Mongolia TugrikMAD Moroccan DirhamMZN Mozambique MeticalNAD Namibian DollarNPR Nepalese RupeeANG Netherlands Antillean GuilderNZD New Zealand DollarNIO Nicaragua CordobaNGN Nigerian Naira
NOK Norwegian Krone
OMR Omani Rial
PKR Pakistan Rupee
PGK Papua New Guinea Kina
PYG Paraguay Guarani
PEN Peruvian Nuevo Sol
PHP Philippine Peso
PLN Polish Zloty
QAR Qatari Rial
RON Romanian Leu
RUB Russia Rouble
RWF Rwandan Franc
STD Sao Tome & Principe Dobra
SAR Saudi Arabian Riyal
RSD Serbian Dinar
SLL Sierra Leone Leone
SGD Singapore Dollar
SBD Solomon Islands Dollar
ZAR South African Rand
LKR Sri Lanka Rupee
SRD Surinamese Dollar
SZL Swaziland Lilangeni
SEK Swedish Krona
CHF Swiss Franc
XPF Tahitian Franc
TWD Taiwanese Dollar
TZS Tanzanian Shilling
THB Thai Bhat
TOP Tonga Pa’anga
TTD Trinidad & Tobago Dollar
TND Tunisian Dinar
TRY Turkish New Lira
UGX Ugandan Shilling
AED United Arab Emirates Dirham
USD United States Dollar
UYU Uruguayan New Peso
VUV Vanuatu Vatu
VEF Venezuelan Bolivar Fuerte
VND Vietnamese Dong
WST West Samoa Tala
ZMK Zambia Kwacha
FX4Cash supports the following 125 disbursement currencies
How Does FX4Cash Payment Work?
Customer
Base Currency A
3DB debits client’s base currency account
Execute FX Trade(s)
2
4
DB releases instructions for payment processing
DB pays bene via Wire, ACH or Draft in local currency
5
Beneficiary
Credit Currency B
Client sends FX4Cash Payment Instruction (via db-di, SWIFT or H2H)
1
How Does Active Client Funding Work?
Customer
Base Currency A
3
Customer sends a cover payment for its
today´s trades.
The cover payment can be sent from any
client´s account, outside DB
Execute FX Trade(s)
2
4
DB releases instructions for payment processing
DB pays bene via Wire, ACH or Draft in local currency
5
Beneficiary
Credit Currency B
Client sends FX4Cash Payment Instruction (via db-di, SWIFT or H2H)
1
What You Need vs. What We Offer
Pay beneficiaries almost anywhere in the world
Consolidate foreign currency accounts
Receive fixed rates for your FX payments
Know your expected FX costs before you initiate payments
Book one large FX trade to support multiple payments
Cover 125 disbursement currencies
Keep a single base currency account to fund payments in other currencies
Send daily rate sheet at your specified time in the way you want to receive it
Access online streaming rates and seamlessly link FX trades to payments
Offer pre-deal online and flexible options for you to remit payments
Customer Needs dbFX4Cash Solutions
Customer Benefits
Partnering with a global provider that offers all-in-one FX and payment services
Improving efficiency via a streamlined process of FX dealing, settlement and payment
Saving costs by consolidating accounts, eliminating idle balances, and aggregating FX trades
Mitigating risks of operating local currency accounts and exposure to currency volatility
A single window to track all your FX payments with full audit trail
One point of contact for payment and FX inquiries
Benefits of autobahn®FX
• Quick and easy access to deep market liquidity
• Any size of deal possible (up to your available credit/margin limit)
• Commission-free dealing
• Consistent, reliable currency and precious metal prices
• Transparent view of the market from your office, home or while travelling
• Dedicated 24-hour client support team: contactable by chat, email and telephone
• 24-hour availability 6 days a week: you can trade even when your local market is closed
www.autobahnfx.db.com
Features of autobahn®FX
Over 200 currency pairs
Dynamic Pricing on Spot: prices adjust according to size of trade
Straight Through Processing (STP)
Email Trade Confirmations can be sent to multiple destinations for all Spot, Outright, Swap and Option transactions
Post trade operations available on demand: aggregation, rolls and allocation
Application Programmable Interfaces (API): deliver streaming prices 24 hours a day
Laddered Pricing
FX indices are offered for a selection of currencies and baskets
Customisable Trade and Expiry Blotters
Streaming Pricing on Options as well as Spot, Outrights and Swaps
Exceptional range of Non-Deliverable Forwards (NDFs) available
Full Options pricing capabilities
autobahn®FX
Spot Liquidity Window…
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… with Fast Orders
Option Calculator – Vanillas and Strategies
Page 15
autobahn®FXAlgo
New trading tool allowing you to control the slicing, timing and fills of large orders with
much greater precision and transparency than has previously been possible
Allows you to decide in advance exact order size and spreads
Monitor your order and stop, pause or amend strategies at the click of a button
autobahn®Treasury is the all in one solution for the automation and optimisation of FX and MM transactions between group treasuries and their subsidiaries.
Corporates can easily manage and centralise internal treasury workflows with and for their subsidiaries.
With autobahn®Treasury, corporates are able to capture trades internally with subsidiaries and directly with Deutsche Bank. Internal trade requests from subsidiaries can be quoted automatically based on Deutsche Bank rates with optional mark-up or manually.
Treasury has the ability to take internal trades into the groups currency position or to hedge them automatically one to one with Deutsche Bank. Currency positions can be hedged manually or automatically.
Introduction - autobahn®Treasury
FX & MM trade capture
Trade Blotters & ToDo List
FX Netting/Position by CCY and Total (incl. P&L and NPV)
FX & MM confirmation tool
Administration & Tools
autobahn®Treasury Modules
FX4Cash Client Website
Currency Guide
Demos
Latest News
Contact details
Brochures
www.db.com/fx4cash
Username: FX4Cash
Password: deutsche
FX4Cash Smart Convert
Smart Convert is…– A new feature of FX4Cash– An automated conversion of USD, EUR and GBP payments into the local
currency– An easy service to implement, requiring little change by your bank– A new approach for your bank to earn revenues
How does it work?– Your bank sends eligible USD and/or EUR payments to an usual SWIFT
address (DEUTDEFF for EUR, BKTRUS33 for USD)– DB will determine if payment can be converted to local currency based
on your parameters:– Amt thresholds, Country, Bene, B/O
– DB will book a trade and on settlement , make the payment in local currency (Same day, Next day and Spot)
– Your bank has the opportunity to add a mark-up to our core rate– Payment is effected in local currency to beneficiary
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The Details: Flow and Override Controls
Page 22
Flow Controls Available currencies
– Set-up for each client– If BBK field (57) is a valid country (5th and 6th characters),
Smart Convert will convert to respective currency
Amount thresholds– Ability to set minimum and maximum thresholds– Minimum should not be less than USD/EUR500– Maximum should generally not be greater than USD/EUR
500k
Other Inclusion options:– Any field in payment message– For example, the client may want to set-up Swiss Franc for
only two beneficiary banks
Override Controls Payment Details
– Beneficiary– By Order Party– Beneficiary Bank– Reference
Wildcards available Other Overrides
– Intercompany transfers (Field 23=INTC)
The Details: Managing Reconverts
Reconverts– Reconverts occur when we receive a complaint
from the bene or our client about the conversion and we are requested to pay in the original currency
– Once funds are returned, FX4Cash Investigations will reconvert the paid funds to the original currency using the rates for that day
– The payment is then re-effected in full amount to the beneficiary in the original currency
– Your bank has the option of automatically setting the beneficiary on an override pattern or you can review individually
– When the conversion to the original currency occurs, there may be a gain or loss from the conversion.
– We will ensure special arrangements with your bank to manage this gain or loss.
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Questions and Answers – Smart Convert
Q: Is there a legal agreement needed? A: Yes, a slim 3 page agreement is required
Q: Why do we limit the currencies to 39? A: We limit the currencies to those provided by DB
London where we do not face restrictions in the payment or in their returns
Q: How do we manage returns or complaints? A: Once we receive a return, we will re-effect the
full original currency amount. The potential gain or loss can be borne by the customer or the sales manager
Q: How do I get implemented? A: The same implementation process used for
FX4Cash is used for Smart Convert. Once the set-up form is completed, a client kick off meeting will be scheduled.
Q: Can our bank use standard FX4Cash as well as Smart Convert?
A: Yes. However, we currently cannot differentiate the markup or client margin between the two services unless the client opens a separate account
Q: What are the special formatting requirements? A: There are none.
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