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"They beat the rates I was getting from my banks, hands down." Jennifer
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Technology Resources | Converse | Converse In her quest to conquer FX spreads, Jennifer found a way to get consistently better rates when she introduced Sonnet FX into the Converse treasury department. Unlike banks and traditional FX players that typically offer less attractive rates, Sonnet FX from NewMarkets International delivers "wholesale" FX rates to clients, and charges just one low, fixed fee per transaction, while automating the FX payment process. "I was skeptical at first," says Jennifer, "but in my first transaction with Sonnet FX, the system beat the rates I was getting from my banks, hands down." Not only was the cost lower, but the hassle was eliminated, too. "I am confident that we get better rates today, without wasting my mornings comparing rates on the phone with the banks. Now making a transfer takes only five minutes from my PC," Jennifer says. She installed the software herself, and created a database of foreign payments that Converse makes on a regular basis. Converse and Chuck Taylor were leaders in introducing the concept of marketing basketball sneakers to consumers world-wide. Similarly, NewMarkets is leading the way in non-bank foreign exchange payments. Though Jennifer has found that "It's hard for finance people to understand the concept of Sonnet FX at first, because it bucks traditional foreign exchange practices," she maintains that NewMarkets is changing the way corporate treasurers handle foreign payments. "When you stop to consider the benefits of this system, it should be an easy decision for anyone who has ever shopped around for bank rates. NewMarkets is way ahead of the game."  Back to top
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