Spot transactions
A spot transaction is the exchange of an amount in one currency into another, typically effective two days after the date of the transaction.

Forward Foreign Exchange Transaction
A forward transaction is a binding agreement to buy or sell a fixed amount in a given currency on a fixed date or within a range of dates. By using Forward foreign exchange transactions, your company will know the exchange rate at which transactions relating to your international trade will be settled. There are no fees or charges applied when entering such agreements.

Options
An option gives the buyer the right, but not the obligation, to buy or sell a fixed amount in a given currency on a fixed date. It insures the buyer against unfavourable changes in exchange rates. The buyer pays only for the right to exercise the option on expiry.

Speak to your business relationship manager about your options for dealing with currency risk.