Non-Deliverable FX Swaps (NDS) - EBS - Electronic Markets - Markets - ICAP.com

Non-Deliverable FX Swaps (NDS)

Non-Deliverable FX Swaps on EBS – the fixing against 1 month

Non-Deliverable FX Swaps (NDS) on EBS is a new electronically traded instrument which adds ease and accuracy to a trader’s FX positions management.

With the introduction of NDS on EBS, traders for the first time will be able to electronically trade two fixing swaps:

• Today's fixing (TOD): dealt swap points are applied to that day’s fixing/valuation rate
  
• Tomorrow's fixing (TOM): dealt swap points are applied to the reference rate

NDS (fixing against 1 month) is offered in Asian and LatAm non-deliverable currency pairs.

Benefits include:

• Global reach – unparalleled access to global counterparties and market liquidity
  
• Anonymous order entry – maximum trading opportunities with minimum exposure
  
• Ease and efficiency – increased efficiency of customer flow and position management
  
• Increased confidence – electronic trading increases accuracy and aligns with new regulatory environment
  
• Orderly and efficient market place – consistent dealing rules for all participants
  
• Reduced operational risk – increased accuracy and full audit trail through electronic trading and straight through processing (STP)
  
• Improved risk management – integrated access to RESET’s risk mitigation service for managing fixing risk and cash flows associated with offsetting odd date positions

To ensure immediate response to customer queries and needs, the EBS platform is supported by dedicated customer support representatives 24 hours a day.