Using Online FX. A guide for Corporate Online users

Transcription

1 Using Online FX A guide for Corporate Online users

2 About this guide Contents About this guide... 4 Where can I find a copy of this guide?... 4 What else should I read?... 4 Note... 4 Where can I get help?... 5 Welcome to Online FX... 7 Access anywhere... 7 Online security... 7 Novice or Advanced user... 7 Different levels of access... 8 Numerical short cuts... 8 Accessing Online FX... 8 Navigating the site... 9 About the Online FX menu... 9 When you first access Online FX Setting your preferences Changing your preferences Deals Creating a deal Interim Reference Managing your deals Confirming a deal Extending a deal Predelivering a deal Settling a deal Viewing your archived deals Orders Creating a Order Managing your Orders Amending an order Cancelling an order When order conditions are met Indicative rates Settlements Creating a settlement Managing your settlements Amending a settlement Authorising a settlement Deleting a settlement Settlement instructions Creating a settlement instruction Managing your settlement instructions Authorising a settlement instruction Amending a settlement instruction Authorising recipients Important security issues to remember Using Online FX Page 2 of 45

3 About this guide Frequently Asked Questions Using Online FX Page 3 of 45

4 About this guide This guide introduces Online FX and explains how to carry out online foreign exchange transactions. It is one of a suite of guides that cover the wide range of applications and features that are available through Corporate Online. Where can I find a copy of this guide? The most up-to-date version of this user guide is available for downloading under the Other services menu. If you must print this document, always download the PDF from Corporate Online then print from that: don t print a saved PDF or photocopy a paper copy as it may not be current. What else should I read? As well as reading this guide, we strongly recommend you read: Introducing Corporate Online, which covers topics such as logging on and security; Note This user guide forms part of your Agreement with us and provides information for your use of this product within Westpac Corporate Online. Copyright 2011 Westpac Banking Corporation ABN Using Online FX Page 4 of 45

5 Where can I get help? There are a number of ways you can get help with using Online FX. Onscreen helpful hints When you are in Novice user mode, as you navigate the site and enter information, helpful bubbles sometimes appear to further clarify what information is required. Online help Select the help. icon in the top right corner of any screen to access the context-specific online Telephone support You can also call your Dealer, Relationship Manager or Settlement Officer. AU Monday to Friday between 5am and 7pm (AEST/AEDT Sydney time) NZ Monday to Friday between 7am and 9pm (New Zealand time) From outside Australia or New Zealand, call Using Online FX Page 5 of 45

6 You can any queries to Using Online FX Page 6 of 45

7 Welcome to Online FX Online FX is the simplest, most flexible and reliable way to trade currency online. Initiate deals online View and manage (confirm, extend, predeliver) your existing deals Submit orders online (for approved customers) View and manage (amend, cancel) your Orders View up-to-date indicative rates Initiate settlements for your existing deals (for approved customers) View and manage (delete, authorise) your existing settlements Initiate settlement instructions (templates) to be applied to settlements (for approved customers) View and manage (delete, authorise) your existing settlement instructions View up-to-date indicative rates The Online FX site has been designed for easy, intuitive navigation. You can filter your lists of deals, orders, settlements and settlement instructions to tailor what you see to meet your needs. You can save or reset these filter preferences. Access anywhere Once you have received your Online FX log in details you can access Online FX in the same way that you access Corporate Online. Most web browsers are suitable (both PC and Mac). All you need is the Microsoft Silverlight 4.05 plugin for your web browser. Online security As part of Corporate Online, Online FX operates within a highly protected environment. You can only access Online FX after accessing Corporate Online and entering additional Online FX log in details. Novice or Advanced user You can choose between the Novice User view or the Advanced User view, by making your selection in the top right corner of most screens. The information required under each view is the same but there are clearer explanations of what is required in each box under the Novice layout. You can switch between the two views whenever you want. It will not affect the information you have already entered. Using Online FX Page 7 of 45

8 Different levels of access Administrator... this is the top level of access for an organisation. All activity on your organisation s Online FX account can be viewed by the administrator. Administrator/s control who can create and confirm deals and orders, create and authorise settlements and create and authorise settlement instructions. Office... within an organisation, the levels of office access are determined by the administrator. User... your view and functions will be determined by the administrator. Numerical short cuts When entering currency amounts anywhere on the site, you can use the following short cuts: h = hundred... 8h = 800 t = thousand... 70t = 70,000 k = thousand k = 500,000 m = million... 23m = 23,000,000 b = billion... 4b = 4,000,000,000 y = yard (billion)... 61y = 61,000,000,000 Accessing Online FX Once you have successfully signed into Corporate Online, select Online FX in the left-hand navigation menu. You ll then be prompted to provide your 2 nd -factor authentication details: Token password Token number Using Online FX Page 8 of 45

9 Navigating the site The Online FX site has been designed for simplicity with a logical flow of information. Use the left-hand menu column to navigate between different screens. About the Online FX menu Create Depending on your user profile, under the Create heading you may be able to set up: Deals Orders Settlements Settlement instructions Using Online FX Page 9 of 45

10 Simply enter the details required in the boxes. Manage Once deals, orders, settlements or settlement instructions have been created they are added to your lists under the Manage heading. By default, the system will automatically display the first 25 records matching your filter criteria. If you need to see more records, you may select one of the other available options (50, 100 or All). Many of the column headings are enabled for filtering and sorting to allow you to better manage your lists and find items you want more easily. Apply one or more of the available filters using the boxes directly beneath the column headings and then select Refresh. Using Online FX Page 10 of 45

11 When viewing your list you can sort any column in ascending order by selecting the column heading once, and in descending order by selecting the same column heading a second time. You can clear, reset or save your filter preferences by selecting the action you want in the bottom left of the screen. For more details Select an item on the list for more details and for additional steps to take. For example, if you select a deal on your list of deals, you can then confirm it. If the deal has already been confirmed you can extend or predeliver it. Using Online FX Page 11 of 45

12 To hide the expanded information, select the item again. View Under the View menu you ll find: Indicative rates... you can set up and change your list of indicative exchange rates for spot and outright details up to 12 months ahead; Archived deals... your completed deals (up to 120 days); Archived settlements... completed settlements (up to 120 days); Using Online FX Page 12 of 45

13 When you first access Online FX The first time you access Online FX, you ll be asked how skilled you are at foreign exchange (FX) - Novice user or Advanced user. Your answer will determine which view you ll have initially. You can switch between Novice and Advanced at any time by selecting the view in the top right corner. It will not affect the information you have entered. At this point you will be at the Manage Preferences screen. Setting your preferences Novice user: 1. Select the screen you would like to start your Online FX sessions in (the one you will use most often) 2. Select the currency you expect to be selling most often 3. Select the currency you expect be buying most often 4. Select the value date you ll use most often Using Online FX Page 13 of 45

14 Advanced user: 1. Select the screen you would like to start your Online FX sessions in 2. Select the currency pair you ll be trading most often 3. Select whether you ll typically be buying or selling 4. Select the value date you ll use most often Select Save. These preferences will become your default settings to speed up your use of Online FX. Changing your preferences You can change your preferences at any time by selecting Preferences under the Manage heading in the left-hand menu and selecting different preferences. Using Online FX Page 14 of 45

15 Using Online FX Page 15 of 45

16 Deals Creating a deal For some customers, multiple deal types are available: Outright deal... a straightforward purchase of one currency against another Swap deal (Even amounts)... buying/selling a currency and then selling/buying the same amount back at a future date Swap deal (Uneven amounts)... buying/selling a currency and then selling/buying a different amount back at a future date Select Deal under the Create heading in the left-hand menu. If you are authorised to transact on behalf of more than one trading entity, choose the customer for whom you are requesting a rate from the drop-down menu. Creating an outright deal Under Deal details: 1. Select Outright deal from the drop-down menu. Then: 2. Select the currency you want to buy 3. Select the currency you want to sell 4. Enter either the amount you want to buy or the amount you want to sell 5. Select the value date: Today... a deal for same day settlement Tomorrow... a deal for settlement on the next appropriate business day Spot... an immediate deal for settlement in two business days Week... up to 3 weeks from the spot date Month... up to 12 months from the spot date depending on your profile Date... select a specific date for the deal from the calendar available dates will be limited by your profile Using Online FX Page 16 of 45

17 If you select Today, a list of countries will be presented. Select the countries to which the payment will go. Countries that are greyed out are already past their currency cut-off for the day and you will not be able to trade for value today. Select the Request rate button. Using Online FX Page 17 of 45

18 Creating a Swap deal Under Deal details: 1. Select Swap deal (Even amounts) or Swap deal (Uneven amounts) from the dropdown menu. Then: 2. Select the currency pair you want to trade In the Near leg section: 3. Enter either the amount you want to buy or the amount you want to sell (you can switch the Buy and Sell actions at any time by selecting either the BUY or SELL spinner beside each amount field. 4. Select the value date In the Far leg section: 5. If you have selected Swaps (Even amounts), the amount in the Far leg will be prepopulated for you. If you have selected Swaps (Uneven amounts), you may enter a different amount expressed as either the amount you want to buy or the amount you want to sell for the Far leg. 6. Select the value date this must be at least one day after the Near leg Select the Request rate button. Using Online FX Page 18 of 45

19 Accepting your quote You ll then have limited time to accept the rate for the deal. Important: When you accept the rate, the deal cannot be amended or cancelled online. It is now a binding FX transaction. To amend or cancel the deal, you would have to speak to your Dealer. You will be responsible for any loss or profit (depending on market movement) resulting from a deal executed in error. Once you accept the rate, you will be returned to the Manage Deals screen where the deal will be displayed. You can now Confirm the new deal (if the Confirm deals capability has been assigned to you by your Administrator/s). Interim Reference In the Manage Deals screen, the deal you have just created may initially be displayed with an Interim reference. This means your deal is complete, however the system is carrying out further processing in the background and your final bank reference has not yet been generated (which could take some time). Using Online FX Page 19 of 45

20 Please come back to your list of deals later. The Interim reference will then have been updated to the final Bank reference. The deal can then be confirmed, predelivered or extended as detailed in later sections. Managing your deals The Manage Deals screen shows all your current deals. When you select a deal, it will display detailed information, including the Deal Comment box. You can enter any information you want here, it s for your own reference. Select Save deal comment to save. Confirming a deal If the Confirm deals capability has been assigned to you by your Administrator/s, the Confirm action will be presented in the lower-left corner of the expanded deal information. To confirm the deal, select Confirm. A confirmation window will appear. You can enter a Customer reference and Confirmation comment (any details that you find useful). Once again, these values are for your own reference. Select OK to complete the confirmation. Using Online FX Page 20 of 45

21 Once the deal has been confirmed, you may have a number of additional options (depending on which capabilities have been assigned to you by your Administrator/s): Extend... if you need to increase the value date for a deal beyond its original date Predeliver... if you need to decrease the value date of a deal prior to its original date Settle... initiate a settlement (payment) for the deal Print... provides a printable version of the Deal Confirmation Extending a deal If the Extend deals capability has been assigned to you by your Administrator/s, the Extend action will be presented in the lower-left corner of the expanded deal information. Select Extend from within the expanded deal information. Under Deal details: 1. Select the new value date to which you want to extend the deal your limits will be set by your user profile 2. Select the currency to be extended 3. Enter the amount you can extend all or part of the original deal Using Online FX Page 21 of 45

22 If you choose to extend part of the original deal the remaining balance will automatically be calculated and appear under Remaining balance. Select Request rate. You ll then have limited time to accept the rate for the extended deal. Once you accept the rate, you will be returned to the Manage Deals screen where the deal will be displayed. You can now Confirm the newly-extended deal (if the Confirm deals capability has been assigned to you by your Administrator/s). Predelivering a deal If the Predeliver deals capability has been assigned to you by your Administrator/s, the Extend action will be presented in the lower-left corner of the expanded deal information. Select Predeliver from within the expanded deal information. Under Deal details: 1. Select the new value date to which you want to predeliver the deal 2. Select the currency to be extended 3. Enter the amount you can predeliver all or part of the original deal If you choose to predeliver part of the original deal the remaining balance will automatically be calculated and appear under Remaining balance. Select Request rate. You ll then have limited time to accept the rate for the extended deal. Once you accept the rate, you will be returned to the Manage Deals screen where the deal will be displayed. Using Online FX Page 22 of 45

23 You can now Confirm the newly-pre-delivered deal (if the Confirm deals capability has been assigned to you by your Administrator/s). Settling a deal By selecting Settle from within the expanded deal information, you ll be taken to the Create Settlement screen. Full details on settling deals can be found in the Settlement section below. Viewing your archived deals All users of the Global Dealer system have the ability to view up to 120 days of historical deals. Select Archived deals under the View heading in the left-hand menu. As with all of your other lists, enter or select one or more filters using the boxes directly beneath the column headings and then select Refresh. Of particular note on this screen, is the ability to apply a date range when filtering by either Deal date (the date the deal was initiated) or Value date (the date the deal was settled). Select a Start date Select an End date Select Close Using Online FX Page 23 of 45

24 The word Range will be displayed in the filter box and if you hover over it with your cursor, a tool-tip will present your selected dates. Using Online FX Page 24 of 45

25 Orders Creating a Order For some customers, multiple order types are available: Call a request to be contacted when the market reaches your desired exchange rate Take profit an order to buy one currency with another when the exchange rate reaches an advantageous point Stop loss an order to buy one currency with another to prevent further loses due to adverse currency movement One cancels other (OCO) placement of both a Take profit and Stop loss order. If one is executed, the other is cancelled Select Order under the Create heading in the left-hand menu. If you are authorised to transact on behalf of more than one trading entity, choose the customer for whom you are placing the order from the drop-down menu. Creating a Call order Under Order details: 1. Select Call order from the drop-down menu. Then: 2. Select the currency pair you would like to buy and sell 3. Enter your desired rate 4. Enter the phone number to be contacted 5. Select when the order will expire You can set a date, time and location time zone for when the order will expire or choose good until cancelled (GTC). This means the order will remain in place until you specifically cancel it. 6. Enter any information you want for your own reference in the Additional comments box Using Online FX Page 25 of 45

26 Review your details and then select Submit order. Creating a Take profit / Stop loss order Under Order details: 1. Select Take profit or Stop loss from the drop-down menu. Then: 2. Select the currencies you would like to buy or sell 3. Enter the amount you want to buy or sell 4. Enter your desired rate 5. Select when the order will expire You can set a date, time and location time zone for when the order will expire or choose good until cancelled (GTC). This means the order will remain in place until you manually cancel it. 6. Enter any information you want for your own reference in the Additional comments box Review your details and then select Submit order. Using Online FX Page 26 of 45

27 Creating a One Cancels Other (OCO) order Under Order details: 1. Select One Cancels Other (OCO) from the drop-down menu 2. Select the currency pair you would like to buy and sell Under the Take profit leg: 3. Enter the amount you want to buy or sell 4. Enter the rate at which you want to buy or sell the currency Under the Stop loss leg, the amount you entered for the Take profit leg will automatically be pre-populated: 5. Enter the rate at which you want to buy or sell the currency 6. Select when the order will expire. You can set a date, time and location time zone for when the order will expire or choose good until cancelled (GTC). This means the order will remain in place until you manually cancel it. 7. Enter any information you want for your own reference in the Additional comments box Review your details and then select Submit order. Using Online FX Page 27 of 45

28 Managing your Orders The Manage Orders screen lists all your current orders. Your orders will be in one of eight possible status : Accepted (A) your order has been accepted and will become active when the conditions are met Cancelled (C) your order has been cancelled Pending New (PN) your order has been submitted but not yet accepted Pending Amend (PA) an amendment to your order has been submitted but not yet accepted Pending Cancel (PC) cancellation of your order has been submitted but not yet accepted Expired (E) your order has passed the date/time limit you set Rejected (R) an amendment to your order has been rejected Filled (F) the market has reached the conditions specified in your order and it has been filled. It will also appear in your list of deals for confirmation under Manage Deals. Select any order to see more detail. Using Online FX Page 28 of 45

29 Amending an order Select Orders under the Manage heading in the left-hand menu. Choose the customer for whom you are amending the order from the drop-down menu (if you are authorised to transact on behalf of more than one trading entity). Select the order you want to amend and select Amend. You can then amend: the buy/sell amount the rate the expiry your comment Review your details and then select Submit amendment. You will then be returned to the Manage Orders screen. Using Online FX Page 29 of 45

30 Cancelling an order Select Orders under the Manage heading in the left-hand menu. Choose the customer for whom you are creating the order from the drop-down menu (if you are authorised to transact on behalf of more than one trading entity). Select the order you wish to cancel. Select Cancel. When order conditions are met Call Order When the conditions for the order are met, you ll be notified. You can then request a deal over the phone or online. Take profit, Stop loss and OCO orders When the conditions for these are met, they will automatically become new deals and appear in the Manage Existing deals screen. The filled order (F status) in the Manage Orders screen: The filled order is now also a new deal in Manage Existing deals screen: Using Online FX Page 30 of 45

31 Indicative rates So you don t have to request rates repeatedly, you can set up the Indicative rates under the View heading in the left-hand menu with your most frequently traded currencies. To add an indicative rate, select the icon, and then: 1. Select the buy currency 2. Select the sell currency 3. Enter either the buy or sell amount 4. Select a value date from today up to 12 months forward Note: you can request indicative rates for up to 10 currency pairs To remove an indicative rate, select the icon. You can refresh the indicative rates by selecting Get latest rate/s. Important: These rates are indicative only. If you want to lock in a firm rate, you must go to the Create Deal screen to request an executable rate. If the indicative rate has reached a level where you would like to trade, select Deal. You will be navigated to the Create Deal screen. The buy & sell currencies, amount and value date from the indicative rates screen will be pre-populated for you. You can then adjust any details and request an executable rate. If the indicative rate has not reached a level where you would like to trade, select Order. You will be navigated to the Create Order screen. The buy & sell currencies and amount from the indicative rates screen will be pre-populated for you. You can then adjust any details and submit an order. Using Online FX Page 31 of 45

32 Settlements For some customers, advanced settlement features are available. Creating a settlement Select Settlement under the Create heading in the left-hand menu. If you are authorised to transact on behalf of more than one trading entity, choose the customer for whom you are creating the settlement from the drop-down menu. Select a value date. You can settle any number of confirmed deals at the same time. All deals with Confirmed status with the selected value date are available for settlement and will appear in the lefthand window. Highlight any deal/s you want to settle and use the arrows provided to transfer one or more deals into the Deals selected for settlement list. Arrow Guide: = transfer highlighted deals into the selected list = transfers all deals into the selected list = transfer highlighted deals out of the selected list = transfer all deals out of the selected list Once the deals you want to settle are in the settlement window, the Cashflows section will appear with the amounts you will receive or pay for the deals selected. If more than one deal has been selected, you have the option of settling each currency as a lump sum (Net), or each deal amount separately (Gross). You may also break the cashflow for each currency into a number of payments (to a maximum of 99). Enter the number of payments you wish to make for each currency. Select Next. Using Online FX Page 32 of 45

33 The Settlement details screen will be presented to allow you to apply pre-approved settlement instructions to each of the payments nominated in the Cashflow section (above). If you only have one settlement instruction defined, that instruction will already be selected for you. If you have more than one settlement instruction, select an instruction for each payment. If reference information was added when the settlement instruction was set up, this will be pre-populated in the reference box for you. You can edit this information now, or enter a new reference if the reference box is empty. To check which addresses will receive notification of the settlement, select s. You can select Save draft or Submit. If you select Save draft, the settlement will have an Incomplete status and you can return to it later via Manage > settlements. If you select Submit you ll see a warning. This advises you that once the settlement is saved, the deals and payment details cannot be edited. To change these you must delete the settlement and create a new one. Select OK to save the settlement or Cancel to return to the previous screen. Once the settlement has been submitted, it will appear in your Manage settlements screen. It will have Unauthorised status until it has been authorised. Managing your settlements Go to Settlements in the Manage menu. All your deals for settlement will appear in the Settlements list. They will have one of the following status levels: Not settled deals that have been confirmed but with no settlement started; Incomplete deals for which the settlement has only been partially completed and saved as drafts; Using Online FX Page 33 of 45

34 Part authorised settlements that require dual authorisation and have only one authorisation; Authorised fully authorised settlements; Manually settled a settlement that has been completed by phone. Select a deal to view the details and the settlement instructions. Amending a settlement You can only amend Incomplete, Not settled, Unauthorised and Part authorised settlements. Fully authorised settlements cannot be amended. Go to the Settlements screen under the Manage menu. Select the settlement you wish to amend. Select Amend. This will return you to the Create Settlement window. The deal s settlement details will be entered and you can make the changes you need. A Part authorised settlement that is amended will return to Unauthorised status and will need to be authorised again. Using Online FX Page 34 of 45

35 Authorising a settlement Only deals with Unauthorised or Part authorised status can be authorised. Single authorisation Settlements that require only one person to authorise them. Select the settlement you wish to authorise under the Manage Settlements screen. Select Authorise. Once authorisation has been completed, payment will be made on the settlement value date. Dual authorisation Settlements that require more than one person to authorise them. Select the settlement you wish to authorise under the Manage Settlements screen. Select Authorise. Once the first level of authorisation has been done, the deal will have Part authorised status. When the second authorisation has been completed, payments will be made on the settlement value date. Once a settlement has been fully authorised you will also be able to view it in the Authorised settlements list under the View menu. Using Online FX Page 35 of 45

36 Important: Currency cut-off times All deals must be fully authorised before the Currency cut-off times. These vary between countries. You can access the Currency cut-off times under the View menu. Full authorisation is required We cannot act on settlements that have not been fully authorised (either single or dual, depending on the authorisation procedure set by your administrator) Authorising an incorrect settlement If you authorise an incorrect settlement, contact your Online FX settlements officer. They will endeavour to amend the settlement. Deleting a settlement You can only delete Incomplete, Not settled and Part authorised settlements. Go to the Manage Settlements screen. Select the settlement you wish to delete. Select Delete. The settlement will be cancelled and you will have to create a new settlement by either: going to Settlement under the Create menu; selecting Settle on a confirmed deal in the Manage deals list. Using Online FX Page 36 of 45

37 Settlement instructions Customers with advanced settlement features require the additional capability to create/manage settlement instructions. Creating a settlement instruction Settlement instructions are where you nominate which bank accounts are to be debited or credited for a settlement. It s important that this information is absolutely correct. Go to Settlement Instructions under the Create menu. If you have multiple customers select which customer you re creating the settlement instruction for from the drop-down menu. In the List of Settlement instructions window, select the type of instruction you are creating. Frequent credit instruction. You can only set up one of these. This should be the settlement instruction you use most frequently. Credit instruction. These are instructions you use less frequently. You can set up as many non standard instructions (NSIs) as you want. Debit instruction. This is a standard template for when you want to debit a particular account to make a payment. Enter: your reference for this instruction so you can identify each instruction (your payee will not be able to see this); the currency for payment; the bank account number; Using Online FX Page 37 of 45

38 the account name; Insert any additional details to be attached to the instruction. Beneficiary Bank details The SWIFT code for a bank is its unique international identifying code. If you don t know the SWIFT code for a bank, enter the name of the bank and location (full country name and at least three characters of the city name). Select Lookup a selection of banks meeting your criteria will appear. Select the bank you want. The beneficiary bank SWIFT code will then automatically be entered. Important: you must ensure these details are correct. If you are unsure, check the SWIFT code with the beneficiary bank. Intermediary bank recipients Enter the Bank ID for this instruction. This is the branch identifier code supplied by overseas banks. You don t have to enter it, but it will help ensure payment. An intermediary or third party bank may be needed if your payee does not have a bank in the country you are trying to send a payment to. If an intermediary bank is needed, select Yes and enter the intermediary bank details. It is important that these details are correct. If you want anyone to receive an notification of settlement, move their address from the Address book window into the s attached to this instruction window using the left arrows. Use the box at the bottom to add addresses to the Address book. You can add multiple addresses at the same time, separated by a semicolon (;). You must save the settlement instruction to save any additions or amendments to the recipients list. Using Online FX Page 38 of 45

39 Managing your settlement instructions Go to Settlement instructions under the Manage menu. All your Settlement instructions are listed here. Your settlement instructions will have one of three status levels: (U) Unauthorised; (A) Authorised; (E) Enriched. Only enriched instructions can be applied to a settlement. Select on a settlement instruction to view its details. Unauthorised settlement instructions After you ve first created a settlement instruction, it will appear as unauthorised. To authorise, simply select Authorise. To amend, select Amend and you will be taken back to the Create Settlement instruction screen where you can alter the details as required. Authorised settlement instructions You can amend authorised settlement instructions by selecting Amend. If you make any changes, the instruction will return to unauthorised status. Enriched settlement instructions Enriching is the checking process carried out by Online FX to ensure all the settlement details are correct. This normally takes less than a minute. Only settlement instructions that have been enriched can be applied to a settlement. You can amend enriched settlement instructions by selecting Amend. If you make any changes, the instruction will return to unauthorised status. Using Online FX Page 39 of 45

40 Authorising a settlement instruction Go to Settlement instructions under the Manage menu. Select the settlement instruction you wish to authorise. Select Authorise. Your settlement instruction will then be checked by Westpac for accuracy. Once this is complete the status will change to E (Enriched) and the instruction will be available for use. This normally takes less than a minute. Amending a settlement instruction Go to Settlement instructions under the Manage menu. Select the settlement instruction you wish to amend. Select Amend. You will then be taken back to the Create Settlement instruction screen where you can alter the details as required. Note: if you amend an authorised or enriched settlement instruction, it will return to unauthorised status. It will need to be authorised and enriched again before it can be applied to a settlement. If you amend a settlement instruction, settlements that already have that instruction applied, will still have your old settlement instruction. To apply the revised settlement instruction, you will need to amend the settlement in the Manage settlements window. To delete a settlement instruction, select Delete. Using Online FX Page 40 of 45

41 Authorising recipients Upon settlement, s will only be sent to authorised recipients. This is an added layer of protection to ensure only the right people are informed of a settlement. Settlements which have authorised settlement instructions with unauthorised recipients will go ahead, but without notification. To authorise recipients: Select the settlement instruction in the list of settlement instructions in the Manage Settlement instructions screen. The recipients will be listed on the right. Select Authorise. You can add or remove s by selecting Edit. If you make any changes to the list, you will have to Authorise again. Using Online FX Page 41 of 45

42 Important security issues to remember Protect your fob token and security number Online FX is committed to ensuring the security of your organisation s online FX transactions. As the administrator it is important you do likewise. Keep your security number secret and protect your fob token against loss, theft or inappropriate use. If anyone obtains your security number and fob token, they can assume your identity on the site. Any actions they carry out will be attributed to you. When an employee leaves Please notify us immediately: from Australia; from New Zealand; from overseas. Then return their fob token to the Online FX Help desk at: Corporate Online Support Westpac Banking Corporation Reply Paid 5324 Sydney NSW 2001 Australia If an employee loses their fob token Notify us immediately. We will deactivate the token and issue a new one. If someone obtains an employee s security number Notify us immediately so we can issue a new security number. To delete an Online FX user Call us on: from Australia; from New Zealand; from overseas. We will deactivate the user s fob token immediately. Please return the fob token to the Online FX Help desk at: Corporate Online Support Westpac Banking Corporation Reply Paid 5324 Sydney NSW 2001 Australia Using Online FX Page 42 of 45

43 Frequently Asked Questions What FX deals can I do? You can arrange FX deals for Spot, Today, Tomorrow or Forward date values. You can conduct even and uneven Swap transactions. You can also Extend or Predeliver deals within your date limits. You can also place Call, Take profit, Stop loss and One Cancels Other orders. Can I view all my FX deals? Yes, the Manage deals screen lists all your deals, including those done over the phone. You can filter the view by: deal or value date; buy or sell currency; buy or sell amount; status; bank reference; customer reference. Can I settle deals online that were arranged by phone? Yes, all the deals you arrange on the phone will appear on your Manage deals screen and can be confirmed, settled and authorised online. Can I settle more than one deal at a time? Yes, you can settle any number of deals, net or gross. You can chose up to 99 payments. Does my credit limit apply? Yes, your existing credit limit applies. To change your credit limit, contact your Relationship Manager. Is there a transaction limit? Yes, this will be established between you and your FX dealer. Is there a limit to the amount I can settle online? Is there a cut-off time? No. You can settle any of the currencies you deal to any amount. Yes, the normal Currency Cut-off times apply. All deals must be fully authorised before the cut-off times. You can find the Currency Cut-off times under the View menu. How long does it take to get a quote? You will normally receive a quoted rate within a few seconds. However, under certain circumstances, it may take a bit longer: Using Online FX Page 43 of 45

44 when the selected currency is not frequently traded; when the market is especially volatile; when internet speeds are slow (such as high traffic volume). Will I always get a quote? We endeavour to provide a quote every time. However there may occasionally be times when market conditions or system issues prevent this. If a rate does not appear, an on-screen message will explain why. Do I have to request a quote to see what exchange rates are? No, you can set up a list of Indicative rates under the View menu for easy reference. However, these are only a guide to current rates. For a definite rate you will have to request a quote. What currencies can I deal in? You can deal in most currencies. If you wish to deal in a currency that does not appear on the list of currencies, contact your FX dealer. Do I have to use the same computer all the time? No, as long as you have your security number, passwords and token you can log on whenever and wherever you choose. What are system requirements for running Online FX? Online FX can run from most web browsers as long as the Microsoft Silverlight 4.05 plugin has been installed. The system requirements for Microsoft Silverlight 4.05 and associated technologies are as follows: Windows Operating System: Windows 7,Windows Vista; Windows XP Service Pack 2 Mac OS Linux Intel Pentium III 450MHz or faster processor (or equivalent) 128MB of RAM (minimum) Operating System: Apple Mac OS X or above Intel Core Duo 1.83GHz or faster processor 128MB of RAM (minimum) For the system requirements, please refer to If an error occurs where can I see further information on the problem? Online FX will display all error messages along with an explanation of the error. If you require any assistance, please call the Online FX Help Desk: from Australia; Using Online FX Page 44 of 45

45 from New Zealand; from overseas. Can I view all my orders? Yes, all your orders can be viewed in the Manage orders screen. You can filter the screen by: order date; order type; OCO; buy/sell currency; buy/sell amount; expiry; status; order ID. Can orders be amended/cancelled online? Yes. To amend an order, select the order under the Manage orders screen and select Amend. To cancel, select Cancel. Can I create settlement instructions online? Yes, if you are authorised to create settlement instructions by your Online FX Administrator. Go to Settlement instructions under the Create menu and complete the details. Can I amend settlement instructions? Yes, if you are authorised by your Online FX Administrator. Go to Settlement instructions under the Manage menu and select Amend. If an instruction has been authorised and/or enriched, amending it will require authorisation and enrichment again. Using Online FX Page 45 of 45