Standard Bank's Foreign Exchange (FX) team comprises innovative and experienced staff with a broad skill set catering to a diversified international and domestic client base. We provide our clients with a full suite of products, across both standardised and customised solutions, to meet all their needs.
Cross-border transactions are subject to foreign exchange regulations and exposure to the risks of fluctuating currencies. Standard Bank's representation and experience in emerging markets, and our presence in all major financial centres, enables us to deliver a 24-hour foreign exchange service which is sensitive to regulatory and risk factors in emerging markets globally.
Standard Bank Centralised Treasury - A single point of contact for FX
Growing a broader African footprint can be complex for any business, especially when you start to discover the diversity and complexity of markets across the continent. Standard Bank’s centralised treasury gives you access to liquidity from the world’s number 1 provider of African currencies.
Standard Bank is a leading market maker in the South African Rand (ZAR). We also trade all major currencies as well as numerous African and other emerging markets currencies.
We ensure that our clients always have access to our expertise and market knowledge, and to our dedicated customer-focused teams through electronic, telephonic and personal interaction.
We provide our clients with access to our 24-hour internal trading capability.
Our commitment to pricing and liquidity is evident through our large client base as well as our market share as a leading flow house in Africa .
Dedicated Global Markets Sales Managers provide a single point of entry into Standard Bank's Global Market's services, competencies and expertise.
We have on-the-ground experts in 30 dealing rooms across the globe, providing specialist knowledge of their local markets.
We provide a suite of electronic forex trading solutions that enable online dealing.
International banking Foreign Exchange
The integration of FX Trading into International Banking is another way we are making your foreign exchange experience simple and efficient. International Banking Foreign Exchange (IBFX) helps to make the foreign payment process more manageable with an easy to use, simple platform. The platform allows you to conveniently initiate and track payments anywhere, anytime. You are able to secure spot rates instantly and guard against exchange rate volatility.
Create your payments on the international banking system and execute your foreign exchange transactions seamlessly and securely on one system.
IBFX combines the benefits of International Banking and FX Trading:
Easy set up
Seamless processing of international cash requirements
Secure platform that enables segregation of duties and individual limits
Our FX e-Channel offering includes functionality encompassing all aspects of the foreign exchange cycle where an electronic interface is used.
While the benefits associated with using FX e-Channels are, to a degree, dependent on the nature of your business, there are broad benefits to be gained by all participants in the foreign exchange market:
Real-time dealing and execution
Streaming of rates
Trading from any internet-based computer
Archive search and record of historical and related deals
Limit orders, including stops, linked and profit-take
Price transparency and consistency
FX e-Channels allows your entire transaction process to be presented in a clear and concise manner that fully empowers you to make informed decisions on the relevant transactions. By transacting electronically, a clear audit trail is established and immediately available making it easy for clients to review past transactions, pricing and associated details.
We provide two wholesale product offerings, eMarketTrader and FX Trading, packaged to suit the needs of your business
Renminbi (RMB) official currency of the people's Republic of China
Standard Bank's Renminbi capability
As the largest banking group in Africa, Standard Bank provides a centralised solution for payment clearing and trade settlements in Renminbi. Our relationship with Asia, and with China in particular, is underscored by our close ties with the Industrial and Commercial Bank of China, which holds a 20% stake in the Standard Bank Group.
What is Renminbi
The Renminbi (RMB) is the official currency of the People's Republic of China. It is commonly known as the Yuan (CNY - the base unit of the RMB) and means "people's currency" in Mandarin.
For information on what the internationalisation of the RMB mean for you, click here
Benefits of trading in RMB
For South African companies:
Better negotiation opportunities with suppliers from China
Improved business relationships with counter parties through price transparency and avoiding the use of an "intermediary" currency (such as USD) in the pricing process
Prepayments (advance payments) can be made to incentivise discounts from your supplier
South African operators of Chinese parent companies can repatriate RMB funds to an offshore Standard Bank service provider in Hong Kong, for use in other offshore investments or payments
For Chinese counterparts:
Faster tax rebates - as a "Renminbi Settlement Status" holder, Chinese exporters qualify for automatic tax refunds or exemptions on qualifying exports products at the moment of invoicing, providing a faster rebate than when any other currency is used
Risk reduced by diversifying FX exposure and avoiding foreign currency translation risk
Improved working capital cycle and shortened cash conversion cycle, lowering the cost of funding
Better matching of assets and liabilities
Reduced administrative burden in managing foreign currency revenue and cash flows
Supporting China's national interest to promote the use of RMB
China is now Africa's single biggest trading partner and trade volumes continue to grow. Now that RMB is accepted as a currency of global trade, Standard Bank Group is well positioned to facilitate settlement of the currency.
Standard Bank's RMB product suite
In South Africa, we offer the following capabilities to support RMB payments and settlements:
Transactional products and services:
Customer foreign currency accounts (CFC) denominated in RMB for clients to settle RMB proceeds from import and export trades with enterprises in China
RMB cash settlement and clearing for trade related transactions
CNY notes ordered on request.For information on our cash management solutions click here
Money market and credit facilities:
RMB credit facilities (short term)
RMB money market deposits (trade related receipts into cfc account)
FX and hedging instruments:
CNY deliverable forwards (via the offshore CNH market in Hong Kong)
Across Africa, we provide CNY accounts and services for clients in most of the 19 countries in which we have a presence.
Standard Bank's skilled foreign exchange team is on hand to help our clients negotiate all aspects of RMB settlements
Forex relationship centre
he Forex Relationship Centre (FRC) is an advisory team managed by a group of qualified foreign exchange specialists. They are mandated to provide you with comprehensive service and support for any and all foreign exchange matters.
As an FRC client, you can expect more than just an exchange rate. We offer a wide range of products and services that are aimed to enhance your forex dealing experience.
Products: Spot rates, forward exchange contracts, FX swaps, derivatives and currency futures
Channels:Electronic dealing and telephonic dealing
Services: Market updates, educational tools and events
We aim to provide clients with an exceptional personal service with a strong focus on education. The team endeavours to keep clients informed of the latest developments and best practices in the foreign exchange market, by providing economic research and the latest market rates.
Contact the FRC desk on 08000-FOREX (36739) or email [email protected] for answers to your FX queries and solutions matched to your FX needs.