We harness our expertise to mitigate your business risks and balance sheet risks over short-term and medium-term horizons. Just the boost your business needs to grow.
We are a leading risk management solution provider for trade and balance sheet exposure. As a dominant hedging solutions provider, we help businesses actively manage FX fluctuations on their exposures and transform volatilities into opportunities in line with their risk appetite. Being a top-tier liquidity provider, we also offer foreign exchange services across multiple currencies and leverage our global tie-ups to achieve faster turnaround time on remittances. Through our dedicated team of foreign exchange specialists, we can provide a comprehensive range of services for your business.
FXLive is our web-based foreign exchange rate booking platform. It enables easy booking of FX exposures based on your specific requirements and tenors. You can get an instant deal confirmations and Deal details which can be submitted to along with your documents to the branch for convenient processing.
The FX-Retail platform provides for an anonymous and order driven dealing in the USD/INR currency pair for the Customers of banks. The Customers can access the platform through the Internet to place buy/sell orders in the USD/INR currency pair as per their requirement. The FX-CLEAR Inter-bank Spot rates are also available on the platform for view purpose.
What is a LIBOR rate?
LIBOR, the acronym for London Interbank Offer Rate, is an un-secured short-term borrowing rate determined by selected AA rated banks (also known as Contributor Banks). It is published for 5 currencies; British pound (GBP), Euro (EUR), US dollar (USD), Swiss franc (CHF) and Japanese yen (JPY) and for 7 different maturities, namely, overnight, 1 week, 1 month, 2 months, 3 months, 6 months and 12 months. It is published each London business day and is administered by ICE Benchmark Administration (IBA). A brief summary of the methodology followed by IBA for publication of LIBOR is provided below.
Level 1 (Transaction Based) - Where a Contributor Bank has sufficient eligible transactions, LIBOR is calculated as a volume weighted average price (“VWAP”) of such eligible transactions, with a higher weighting for transactions booked closer to 11:00 AM London time. Eligibility criteria for transactions are specified by IBA.
Level 2 (Transaction Derived) - Where a Contributor Bank has insufficient eligible transactions to make a Level 1 submission, it will seek to make a submission based on transaction-derived data, including time-weighted historical eligible transactions adjusted for market movements and linear interpolation. Eligibility criteria for transaction derived data are specified by IBA.
Level 3 (Expert Judgement) - Where a Contributor Bank has insufficient eligible transactions or transaction-derived data to make a Level 1 or a Level 2 submission, it will submit the rate at which it could fund itself at 11:00 AM London time with reference to the unsecured, wholesale funding market. Each Contributor Bank agrees its defined Level 3 submission methodology with IBA, basing its rate on transactional data, related market instruments, broker quotes and other market observations. Level 1 and Level 2 submissions are mathematically based on transaction data and the methodology is common to all contributing banks. There is no discretion for contributors.
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