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Facility to make transactions with a settlement of more than 2 working days
Flexible currencies choices for business needs
Protect customers from risk exposure to foreign currency fluctuations
I. Product Description
FX Forward is the buying/selling transaction of foreign currencies with exchange rate that is determined during time of transaction, with payment and delviery on a certain date that is 2 (two) days after transaction date.
This transaction allows Customers protection against future exposure risk of FX with respect to exchange rate fluctuations.
FX Swap is the simultaneous buying and selling transactions of a certain currency in the same principal amount on the same time with respect to the buying and selling of other currencies for 2 (two) different dates, using an agreed swap price.
FX Swap, cash flow wise, is the same when customers borrow funds in 1 (one) currency and at the same time lend funds in other currencies where the difference in interest rates is reflected in the difference of exchange rates.
FX Option is the agreement of giving of options to buyer to purchase or sell a certain currency using certain exchange rate on a predetermined period. Buyer has the right (not obligation) to execute the option. The buyer must pay the premium for the giving of option to the publisher/seller of option
There are several Option types, which are:
II. Risk Product and Other Information
A. FX Forward Product Simulation
Customers can do purchase transaction of USD with respect to IDR.Scenario A – Customers experience gain:
If on October 20, 2018, market exchange rate is 15,000, then customers will earn profit since they transacted below market price.
Customers’ IDR account will be blocked on the transaction date and will be debited by IDR 14,710,000,000 from what was supposed to be IDR 15,000,000,000 (if utilizing market price), on October 20, 2018
Scenario B – Customers experience loss:
If on October 20, 2018, market exchange rate is 14,000, then customers will experience a loss since they transacted above the market price.
Customers’ IDR account will be blocked on the transaction date and will be debited by IDR 14,710,000,000 from what was supposed to be IDR 14,000,000,000 (if utilizing market price), on October 20, 2018
PT XYZ needs to make a payment in IDR to a supplier in Indonesia, while currently PT XYZ has an excess USD, which in 1 month will be used to pay foreign suppliers. For PT XYZ to be able to pay its bills to the Indonesian and foreign suppliers, PT XYZ needs to do swap transaction with 1-month tenor on the following month. 1-month tenor on the following month.
| Spot Rate USD/IDR | |
| (transaction date) | 13,880 |
| Swap point (1 month) | 100 |
| Expiry Date | 1 month |
| Nominal USD | 1,000,00 |
On the transaction date, customers will sell USD for IDR amounting to USD 1,000,000 with spot rate at 13,880 (1st leg)
Meanwhile on the maturity date, customers will purchase USD for IDR amounting to USD 1,000,000 with spot rate at 13,980 (13,880 + 100) (2nd leg)
PT XYZ needs to buy USD on the next 3 months amounting to USD 10 mio. Thus, PT XYZ contacted OCBC NISP to do hedging. However, due to the fluctuation of USD, PT XYZ decides to buy Option. Below is the quotation earned:
| Spot Rate USD/IDR |
14,000 |
||
| Strike price | 14,080 | ||
| Expiry Date | 92 days | ||
| Premium USD | 2.5% flat | ||
| Option Type | European | ||
On the Spot date (D+2 from transaction date), customers will make a premium payment of USD 250,000 (2.5% x USD 10 mio) to OCBC NISP Bank.
Therefore, on Expiry Date:
IV. Facility / Channel
Transaction can only be conducted through phone recording with Treasury Advisory with FX Specialist on each area. Customers can contact Relationship Manager (RM) for further information regarding this product.
V. Complaint ProcedureCustomers can submit complaints related to products through:
This Summary is made in English and Bahasa Indonesia, and in the event of inconsistency between the version, Bahasa Indonesia shall prevail.
PT Bank OCBC NISP Tbk terdaftar dan diawasi oleh OJK dan merupakan peserta penjamin LPS
