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Spot FX Trading

I. Description
Spot foreign exchange trading refers to the spot foreign transaction between different sorts of currencies except RMB through ICBC FX system during the transaction hours of ICBC by customers.
Spot foreign exchange trading is the most fundamental exchange tool between foreign currencies, and the trading structure is simple and easily understandable. Through this product, customers can both achieve the conversion between foreign currencies and gain return of exchange rate difference by means of foreign exchange transaction under the precondition that they assume their own risks. Furthermore, customers can transform one currency of lower interest rate into another of higher interest rate to gain return of the interest spread.

II. Target Customers
Personal customer who has full capacity to perform civil conduct and can bear related risks and passes the fitness assessment of the service.

III. Features and Advantages
i. Miscellaneous transaction means: the products of ICBC include real-time foreign exchange transaction and pending order transaction. Pending order includes profit-taking order, stop-loss order, two-way order, revolving order, one-to-many order, trigger order and supplementary order. The revolving order, one-to-many order, trigger order and supplementary order only apply to transactions in which sales are made after purchase by personal customers.
ii. Miscellaneous transaction currencies: ICBC's FX transaction supports USD, JPY, GBP, Euro, CAD, CHF, AUD and SGD and can satisfy different transaction demands of customer.
iii. Competitive prices: ICBC is one of the most influential market participants in the inter-bank foreign exchange market. It keeps friendly business relationship with several international first-class banks and can provide optimal prices to the customers.

IV. Qualification
Personal customers shall meet all the following requirements to process spot foreign exchange trading in ICBC:
1. Customers have full capacity for civil conduct both at home and abroad.
2. Customers have opened his or her multi-currency settlement account with ICBC.

V. Application Process
Personal customers shall fully understand the product features and relevant risks of the foreign exchange transaction, read carefully and promise to follow the ICBC Foreign Exchange Transaction Description (hereinafter referred to as Description) and all the contents of the rule, have willingness and ability to undertake the results caused by the risks mentioned above, and sign the ICBC Agreement on Foreign Exchange Transaction. Personal customers shall designate his or her personal multi-currency debit card or settlement account current passbook opened with ICBC as the treasury account for FX transaction.

VI. Service Channels and Hours
a. Personal customers can process business through business outlets or e-banking channels. The service hours of business outlets are generally from Monday to Friday, and the specific time is subject to the actual business hours of different business outlets. The service hours of e-banking outlets are from 7:00 a.m. on Monday to 4:00 a.m. on Saturday.

VII. Application Process
1. Transaction application: the corporate customers shall submit applications while performing specific deals. After the conclusion of transaction, ICBC will inform the customer of the results that have been confirmed and process the transaction settlement formalities with customers in time.
2. Transaction cancellation and changes: customers can change or cancel the orders and submit the applications before the conclusion of the commissioned transaction. Customers cannot change or cancel the orders once the orders have been concluded.

VIII. Risk Prompt
Due to the uncertainty in the changes of exchange rate in future, in the case that the exchange rate in future is superior to the exchange rate in the spot foreign exchange trading after the customer has handled the spot foreign exchange trading business, since the customer has locked the cost or income of exchange rate, he cannot enjoy the extra income brought by the changes of exchange rate in future.

Global Market