Devisenkassageschäfte beinhalten den Austausch von verschiedenen Währungsbeträgen zum aktuellen, nominalen Kassawechselkurs, wobei die physische Lieferung der currency jeweils nicht später als am zweiten Geschäftstag nach Vertragsschluss erfolgt.
The physical settlement, ie the settlement of foreign exchange spot transactions, then takes place via so-called working balances, i.e. current foreign exchange holdings of the foreign exchange trading banks at foreign reference banks or subsidiaries. Both parties to the business are credited with the amount of foreign currency acquired and, in return, debited with the corresponding amount of the currency sold.
Spot Foreign Exchange Risks
In the context of foreign exchange spot transactions, the business parties involved enter into various risks, including in particular the exchange rate risk, the settlement risk and the transfer or business risk.
Exchange rate risk - The exchange rate risk describes the uncertainty of the future value of unsecured foreign currency receivables or liabilities in the domestic currency caused by the uncertain exchange rate development.
Settlement risk - Settlement risk, on the other hand, describes the risk that one of the business parties cannot meet its obligations and that the other party suffers disadvantages as a result.
Transfer or business risk - Finally, the transfer or business risk relates to the possibility that the business transaction cannot take place at all or properly due to government restrictions or that one party suffers disadvantages due to the incorrect recording or processing of a foreign exchange transaction.