To initiate a new FX Contract

This topic describes the process of setting up currency requirements that can then be funded by an FX Contract.  To fund existing currency requirements, see one of the following topics:  To get FX rates on line or To enter FX rates manually.

  1. To access Purchase FX for Payments, click Purchase FX for Payments on the CitiDirect navigation bar. The Purchase FX for Payments Summary Form appears.

  2. On the Input/Modify Tab, click New.  The FX Currency Requirement Detail Form appears.

  3. The Company Name field is automatically populated based on your client preferences.  To override the default, click the Library Look-Up button and select a different company.

  4. The Company Address field is automatically populated based on the Company Name entry.

  5. The Debit Account field is automatically populated based on your preferences.  To override the default, click the Library Look-Up button and select an alternate debit account.

  6. The Account Familiar Name field is automatically populated based on the Debit Account entry.

  7. In the Buy / Payment Currency field, click the Library Look-Up button and select the currency on the buy side of the contract.

  8. In the Buy / Payment Amount field, enter the amount that you want to pay for the FX contract.  Note:  You can enter an amount in the Buy side of the contract or the Sell side, but not both.

  9. In the Sell / Account Currency field, click the Library Look-Up button and select the currency on the Sell side of the contract.

  10. In the Sell / Equivalent Amount field, enter the amount of the selected currency that you want to sell.  Note:  You can enter an amount in the Buy side of the contract or the Sell side, but not both.

  11. In the Contract Value Date field, enter the date when the contract is due.  The value date must be no earlier than the spot date and no later than one year after the spot date.  Note:  Based on your client configuration, you may not have access to Forward FX contracts.

  12. In the Tenor Code / Description field, click the Library Look-Up button and select the code that corresponds to the tenor of the FX contract.

  13. Click Submit.  The input data is validated and the transaction moves to the next state as defined by Flow Control requirements.

Notes: