Agency agreement: Meaning, Features and Advantages in English

Contents

Agency agreement: Meaning, Features and Advantages

What is agency agreement?

The agency foreign exchange trading business refers to the product where ICBC serves as the agent of overseas central bank institutional investors entering Chinese interbank foreign exchange market and overseas commercial institutional investors entering the OTC foreign exchange market as entrusted by overseas institutions to conduct RMB-foreign currency trading, back office trading confirmation and trading capital settlement.

The agency foreign exchange trading businesses provided by ICBC mainly include:

1. For overseas commercial financial institution customers who. invest in Chinese interbank bond market through ICBC in transaction and settlement, the Bank may, according to the customer’s need, open a special account for foreign exchange in the branches of the Bank and handle OTC foreign exchange trading business at the branches of the Bank for customers.

2. Accept the customer’s inquiry, enter into foreign exchange trading on behalf of customers based on the customer’s authorization and provide the closing voucher or letter of confirmation.

3. Handle the fund settlement in RMB and foreign currencies according to the customer’s authorization.

4. Provide market information to customers in an objective and timely manner.

Features and Advantages

1. Rich market experience: Since the establishment of the interbank market in June 1997, ICBC has started its Interbank market business as one of the first batch of participating institutions After more than two decades of market development, ICBC has accumulated a wealth of market experience.

2. Complete business qualifications: ICBC, as a commercial bank with all licenses and business qualifications, has achieved integration of domestic and foreign markets and has the ability to provide comprehensive, international, and integrated efficient services for domestic and overseas customers.

3. Outstanding market position: As the market maker of the interbank RMB foreign exchange market directly trading all currencies, ICBC has been the winner of Best Comprehensive Market Maker (the highest award for interbank foreign exchange market maker) granted by CFETS for many consecutive years. It is one of the most influential market makers and capable of completing trading risk hedging at a relatively lower cost, thus providing customers with competitive price.

4. Strong market influence: ICBC has been the winner of the following awards many consecutive years: Best Agent of Foreign Institutions (CFETS), Award for Outstanding Contribution in Opening-up (CFETS), Most Influential Institution (CFETS), Best Derivative Products Trading Award (CFETS) and Best Maker in the Interbank Foreign Exchange Market (CFETS).

5. Excellent agency trading and settlement achievements: ICBC has been selected by CFETS as the winner of Best Agent of Foreign Institutions and Award for Outstanding Contribution in Opening-up for many consecutive years. It has assisted many well-known overseas central bank institutions in completing the first foreign exchange transaction in the interbank market.

6. Outstanding value-added services: The excellent research teams of ICBC will provide customers with comprehensive market information, differentiated investment advices and dynamic portfolio management strategies in a timely manner.

Disclaimer

Disclaimer: Target Notes does not own this book, PDF Materials Images, neither created nor scanned. We just provide the Images and PDF links already available on the internet. If any way it violates the law or has any issues then kindly mail us: targetnotes1@gmail.com