FX transactions in Millennium Forex Trader available 24/h
Services offered by Bank Millennium Group to companies include the opportunity to trade foreign currencies online 24 hours a day, 5 days a week. The services are available in Millennium Forex Trader, an electronic platform for trading foreign currencies, within the framework of corporate banking. The Platform now has a more transparent and intuitive interface and continues to be developed.
– The new version and capabilities of the Platform are a reply to the expectations and needs of customers. Crucially important was extension of the time for concluding FX transactions, especially in case of companies, which have settlements in foreign currencies and for which time and price are key factors in the relationship involving foreign exchange as well as hedging market risk resulting from their exposure – said Marcin Serafin, Head of Customer Transactions Unit in Treasury Department, Bank Millennium.
Millennium Forex Trader is an application embedded in the Millenet for Companies online system, available from Monday 0:00 a.m. till Friday 11:00 p.m. Its new interface was based on HTML5 technology, which supports all platform functions directly via the web browser, without the need to install third-party software. Additionally thanks to the single-sign-on (SSO) function, logging on to Millenet automatically logs the user to the Millennium Forex Trader platform.
The app allows monitoring current levels of FX rates for 16 currency pairs simultaneously. It allows concluding FX transactions on all currency pairs available in Bank Millennium’s FX rates table, including the Chinese yuan (the platform has quotations for CNY/PLN, CNY/EUR as well as CNY/USD) and also opening multiple transactions at the same time. Companies have the following online transactions available:
- spot FX transactions (currency conversion/FX spot – settlement up to 2 working days)
- FX forward transactions and currency swaps up to 1 year (FX forward, FX swap)
They can also choose the way of concluding spot FX transactions:
- within available balances of accounts with on-line posting or
- within a limit granted by the bank on the basis of track record
Thanks to Millennium Forex Trader they also have easy and quick access to history of transactions with export of data to a spreadsheet.
The Millennium Forex Trader platform is also available on mobile devices. Companies, which have active mobile banking service, can use mobile devices to monitor current prices for selected currency pairs and to trade currencies; they also have access to the history of transactions.
Last Updated on July 7, 2021 by Łukasz