Forex fixing date
As a client of Phillip Futures, you will enjoy full access to exclusive seminars and daily market reports by our investment experts. Learn about the features of the various fixing and trading products offered by Phillip Futures. NDFs are synthetic foreign exchange forward contracts on non-convertible currencies. Corporate and other investors hedge or take speculative positions to a non-convertible currency movements without actually dealing in the underlying. There will be no physical transfer of the principle amount in the transaction and the deal is agreed on the basis that net settlement will be made in US Dollars to reflect any differential between the agreed forward rate and the actual exchange rate on the agreed forward date which is the fixing date. NDFs are used to hedge or speculate against currencies where government regulations restrict foreign access to local currency or when there is the need to compensate for risk without a physical exchange of funds. The fixing date is the forex where the difference between the prevailing market spot rate and the agreed exchange rate is calculated. The value date is the date where the difference is paid or received in US Dollars. The fixing date is usually 2 business days before the value date. Note that for USDPHP, the fixing date is 1 business day before the value date. For long positions, deduct your NDF agreed exchange rate from the NDF fixing rate at expiry, then multiply the figure by your notional amount, and divide it by the NDF fixing rate. The result will be your profit or loss in US Dollars. For short positions, deduct the fixing rate from your NDF agreed exchange rate, date multiply the figure by your notional amount, and divide it by the NDF fixing rate. You bought 1 million USDINR NDF at On 08 Oct, the USDINR NDF rate is fixed at You made a profit forex You will receive this amount on the value date 10 Oct. Trading NDF is risky because spreads are usually wider during non-official trading hours. It is not as liquid as spot FX as market depth is thinner, making it more volatile. Margins will also be locked until the value date. No, the statement shows balances in the restricted reference currency as an indication of profits or losses in the reference currency based on the settlement rate. These are for indication and does not imply that you actually have balances in the restricted currency. Positive balances in the reference currency will be converted to US Dollars only upon fixing and that can be withdrawn after the value date. No, you cannot use the profits made in your NDF positions before the fixing date as margins for other leverage trades. After the fixing date when the contract is settled and the profits are converted to US Dollars, the profits can then be used as margin for trading forex products. Existing Clients Open an account. Phillip Futures Client Privileges As a client of Phillip Futures, you will enjoy full access to exclusive seminars and daily market reports by our investment experts. Please date with your Phillip Futures Account Number below. POEMS Suite POEMS Professional FX Phillip MetaTrader 5 Request A Demo. Market Trends Newsroom Trading Calendar Economic Calendar. Why Phillip Futures Service Commitment. Get Started Open Account. Trading Membership Incentive Programs Facilities. Date Professional CQG Trader TTNet FX Trader FX Phillip MetaTrader 5. Market Trends Newsroom Trading Calendar. POEMS Professional CQG Trader TTNet Phillip MetaTrader 5. What are Non-Deliverable Forwards NDFs? What are Non-Deliverable Forwards NDFs used for? What are the differences between Spot Forex and Non-Deliverable Forwards NDFs? Spot Forex NDF 1. Actual exchange of principal funds 1. No actual exchange of principal funds 2. Fixing market offshore 2. Not deliverable market offshore 3. Value date as specified in contract 4. Profits and Losses are in term currency 4. Profits and Losses are in US Dollars 5. Lower initial margins required 5. Higher initial margins required. What are the various modes of execution for Non-Deliverable Forwards NDFs and what are the differences? What are Non-Deliverable Forward fixing and value dates? How do I calculate my Non-Delieverable Forward NDF profits and losses at expiry? Why is trading Non-Deliverable Forwards NDFs risky? Can I take delivery on my Non-Deliverable Forward NDF position? No, there are no deliveries for NDF positions. My statement is showing me balances in the reference Non-Deliverable Forward NDF currency, can I withdraw these? Can I use my fixing made in my Non-Deliverable Forward NDF positions as margin for trading other products? Privacy Policy Risk Disclosure Important Notes Disclaimer Careers Contact Us Sitemap. PHILLIP FUTURES PTE LTD. Max 6 months except for USDIDR Max 3 months.
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