Foreign currency isn't foreign to us.
Whether you're an international investor or a frequent world traveler, we can support your foreign currency needs with world-class service and support and innovative banking solutions.
Whether you're an international investor or a frequent world traveler, we can support your foreign currency needs with world-class service and support and innovative banking solutions.
The standards and principles outlined below serve to supplement applicable laws, rules, and regulations and any relevant terms and conditions that govern your trading relationship with City National Bank Foreign Exchange, and shall apply globally to all your trading activities.
In global FX markets, CNB FX engages in price quoting, order taking, trade execution, and other related activities. CNB FX does not act as broker, agent, fiduciary, fnancial advisor or in any similar capacity on behalf of its clients, unless otherwise expressly agreed in writing. CNB FX acts as principal on a full risk transfer basis when executing a transaction. Risk Transfer means that CNB takes on market risk in connection with an order. The point at which that risk transfer occurs is when the transaction is executed between CNB and the client who gave the order.
When CNB FX accepts a client’s order at a price (such as a limit order), CNB FX is agreeing to attempt to complete the trade as principal for the price requested by the client. Where the trade is a limit order, CNB FX will use its professional judgment to determine whether a limit has been reached, including where a third-party pricing source is a determinant in establishing this reference price. CNB FX’s acceptance of a client’s order does not mean that CNB FX will be able to complete the transaction at the order price level requested or that a tradeable market exists to execute at that level. CNB FX’s ability or willingness to fll such an order may be impacted by a number of factors. CNB FX retains discretion regarding the manner in which it may satisfy such orders, which shall be exercised and appropriately timestamped in accordance with applicable local laws, rules, and regulations.
If you have any questions regarding this notice, we encourage you to contact your Relationship Manager. CNB FX believes that the cornerstone of a long-term relationship is an open, two-way dialogue, and we look forward to continuing this with you.
1. Foreign currency transactions are subject to Exchange Rate Risk. Exchange rate risk is the risk of fluctuations or change in the value of the foreign currency, which are inherent in foreign exchange markets. Foreign currency valuation may be impacted by numerous economic, political and social factors as well as supply and demand and government intervention, control and adjustment. Clients should be aware of the risks involved and are solely responsible for any and all decisions relative to foreign currency transactions.
2. Currency is sold or purchased at City National's announced rates. Currency returned following delivery will be repurchased at City National's then current purchase rate. A service charge may apply on a transaction under a stated U.S. Dollar amount. Orders for currency cancelled following confirmation but before delivery are subject to reversal at City National's then current purchase rate. Special orders for currency not carried in stock must be prepaid. Other transaction minimums and service fees may apply. Ask us for details.
3. Foreign exchange services and products are subject to applicable credit approval, legal and regulatory requirements, and client eligibility and suitability requirements. Service fees may apply. Ask us for details.