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Conditional orders in Millennium Forex Trader – new functionality of the online currency exchange service


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As part of the services offered by the Bank Millennium Group, the electronic currency trading platform Millennium Forex Trader provides companies with the opportunity to place conditional orders for currency exchange transactions. The new functionality is another improvement of the online currency exchange service.

- The launch of a new conditional order module in the platform is another functionality introduced in response to the expectations and needs of companies making settlements in foreign currencies. Until now, conditional orders were available to corporate banking clients on the phone. From January, customers using the online currency exchange service can also submit such orders electronically. The availability of conditional orders, having previously introduced the "24 hours a day 5 days a week" mode, is the next step in the implementation and development plan of the Millennium Forex Trader platform – says Marcin Serafin, Head of the Customer Transactions Sub-unit at the Treasury Department of Bank Millennium.

The platform, operating 24 hours a day, 5 days a week, allows you to place conditional orders for FX Spot transactions such as Take Profit, Stop Loss oraz Call on the value dates Today, Tomorrow or SPOT (in two business days). The minimum amount of an order is 1000 EUR or the equivalent in another currency. Companies may place and cancel orders on business days from 8:30 a.m. till 5:00 p.m. for all currency pairs available in the system - the condition is to have a settlement account in the currency. Conditional orders can be placed with indefinite term validity or with a term specified by the user.

Millennium Forex Trader is an application embedded in the Millenet for Companies online system, available from Monday 0:00 a.m. till Friday 11:00 p.m. The new interface based on HTML5 technology supports all platform functions directly via the web browser, without the need to install third-party software. Additionally thanks to the single-sign-on (SSO) function, logging on to Millenet automatically logs the user to the Millennium Forex Trader platform.

The app allows monitoring current levels of FX rates for 16 currency pairs simultaneously. It allows concluding FX transactions on all currency pairs available in Bank Millennium’s FX rates table, including the Chinese yuan (the platform has quotations for CNY/PLN, CNY/EUR as well as CNY/USD) and also opening multiple transactions at the same time. Companies have the following online transactions available:

  • spot FX transactions (currency conversion/FX spot - settlement up to 2 working days
  • FX forward transactions and currency swaps up to 1 years (FX forward, FX swap)

They can also choose the way of concluding spot FX transactions:

  • within available balances of accounts with on-line posting or
  • within a limit granted by the bank on the basis of track record.

Thanks to Millennium Forex Trader they also have easy and quick access to history of transactions with export of data to a spreadsheet.

The Millennium Forex Trader platform is also available on mobile devices. Companies, which have active mobile banking service, can use mobile devices to monitor current prices for selected currency pairs and to trade currencies; they also have access to the history of transactions.