a transaction for purchase/sale of one currency for another currency, settlements for which are carried out on the next business day after the transaction is concluded, while the currency, amount, rate and payment date are fixed at the time of the transaction
a transaction for purchase/sale of one currency for another currency, settlements for which are carried out on the second business day after the transaction is concluded, while the currency, amount, rate and payment date are fixed at the time of the transaction
Advantages
Exchange currency on time on the best terms
Advantages of trading without commission – maximum benefit, minimum costs
No need to have full amount of transaction on your account when concluding, it is enough to deposit amount of security (25% of the transaction amount)
Ability to conclude transactions with a future value date:
TOM – 1 business day
SPOT – 2 business days
Available currency pairs
USD/KZT, EUR/KZT, RUB/KZT, GBP/KZT.
The bank provides a safety cushion in the form of a stop out rate, ensuring stability and control even with high market volatility
Frequently Asked Questions
TOM/SPOT order can be submitted on weekdays from 10.30 a.m. to 06.00 p.m. Astana time.
For example: If you make a SPOT transaction on Wednesday, the transaction will be settled on Friday. If the SPOT transaction is made on Thursday, it will be settled on Monday.
Available currency pairs: USD/KZT, EUR/KZT, RUB/KZT, GBP/KZT.
The minimum amount is USD 10,000, the maximum amount is USD 500,000
No fee charged
When you select a currency pair and value date, the system automatically calculates and displays to you the security amount and the Stop Out closing rate. At the time of the transaction, the security amount is debited to a special account and frozen until the transaction is settled.
Stop Out means a forced closing of a TOM/SPOT transaction, if the market events develop according to the scenario unfavorable for the Customer.
If the market price reaches the Stop Out level, the Bank unilaterally closes the TOM/SPOT transaction to reduce the customer's potential losses.
Settlement takes place on the transaction value date: if it is a TOM, on the next business day; if it is a SPOT, on the second business day after the transaction date.
There are 2 ways to close a transaction:
1. You can close a transaction by a counter transaction by yourself using the exchange rate offered by the system on any day after the transaction or on the settlement date before 04.00 p.m. Astana time. For instance, if you have made a transaction to buy USD 200,000, then you will respectively make a transaction to sell USD 200,000 at the exchange rate offered by the system in order to close the transaction.
2. If you do not close the transaction yourself, it will be closed automatically on the settlement date at the FX Exchange's online exchange rate effective as of 04.00 p.m. Astana time.
The transaction will be closed at the online exchange rate of the FX Exchange.
You can check your orders in the Order History.
The transaction will be settled on the value date between 04.00 p.m. and 05.00 p.m. Astana time.