Hansabankas introduced an electronic channel for trade in FX
2005-06-08 Back
Hansabankas, an internet banking leader in this country, commenced offering the so-called Electronic Treasury facility for currency trading. It is a modern and convenient way to independently conduct both simple and complex FX deals.
This Electronic Treasury facility is the first internet banking product offered to companies, that allows to conduct a vast spectrum of FX deals and to carry out operations of FX deals from the beginning to the end, without the bank's help. It means that customers are no longer supposed to call the bank and notify of intended FX deals.
Transactions will be carried out on-line and take a few minutes. In addition, those customers who choose to make FX deals via this Electronic Treasury, will be offered lower exchange rates. The Electronic Treasury solution also allows dealing in derivatives and FX swops (under lower exchange rates too).
Apart from the abovementioned FX deals, customers may choose to use this Electronic Treasury for drawing up of deposit agreements. Other services available by this facility are receiving statements of deals, following information on currency exchange rates and their diagrams, interest rates and other relevant data.
The minimal amount under a deal conducted via Electronic Treasury shall be 5,000 litas (or an equivalent sum in FX). It is believed to be an attractive offer to SMEs.
Using of Electronic Treasury will be free of charge. This electronic trade tool is an alternative of making FX deals with the help of FX dealers over the phone.
Hansabankas belongs to Hansabank Group, the largest financial service group in the Baltics, whose strategic investor is Swedish bank, Swedbank. Lithuanian Hansabankas group consists of Hansa Lizingas, Hansa Gyvybes Draudimas (life assurance company), Hansa Investiciju Valdymas (an investment management company), Baltijos Autolizingas, Hansa Draudimo Brokeris (an insurance brokerage company) and Hansa Valda.
