11 NDFs available for Asian and Latin currencies

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Saxo Bank now offers 11 NDFs (non-Deliverable Forwards) on Asian and Latin currencies, used to trade currencies with restrictive capital controls that are not accessible to spot markets from offshore traders.

NDFs are available for the following currencies:


 

USDCNY

Chinese Renminbi (Onshore Yuan)

USDIDR                

Indonesian Rupiah

USDINR                

Indian Rupee

USDKRW

South Korean Won

USDMYR

Malaysian Ringgit

USDPHP

Philippines Peso

USDTWD

Taiwan Dollar

USDBRL                

Brazilian Real

USDCLP                

Chilean Peso

USDCOP

Colombian Peso

USDPEN

Peruvian Nuevo Sol

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Trade execution

NDFs are traded over the phone on an RFQ basis through Saxo's Trading Desks.

Minimum trade size

Minimum trade size is USD 500,000 and the maximum Open Net Position per currency is capped at notional USD 5 - 50m.

Margin requirements

An initial 8% margin requirement for all currency pairs is required.​