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FXPartner
FAQ FX Outsourcing | Trading | Security FX Outsourcing Q:
Why consider outsourcing Foreign Exchange? Q:
Why choose FXPartner? Q:
Who is FXPartner? Q:
How do I get started?
Trading Q: What currencies does FXPartner trade?Through NewMarkets, FXPartner processes over 100 different types of currencies. Q: What type of FX payments settlements does FXPartner International offer? FXPartner offers wire and draft cross-currency trading services. Q: Can FXPartner receive funds in foreign denomination? Yes, FXPartner provides repatriation services for clients receiving local currencies overseas. For example, you can invoice a customer in English pounds and have FXPartner convert pounds to US dollars. This can be a distinct competitive advantage when selling goods or services overseas. Q: How is money transferred to FXPartner to fund an FX trade? FXPartner clients can fund their trades by initiating a wire transfer from their account to a designated NewMarkets trading account. Most NewMarkets clients, however, opt to allow NewMarkets to debit a specified source account to fund each trade after it has been submitted. This means that the clients do nothing more than submit the trade request via FXPartner; NewMarkets does the rest. Q: Does NewMarkets hold currencies on behalf of clients? No, NewMarkets acts solely as a transfer agent. All clients are held in Escrow accounts and are fully insured for the benefit of our clients. Q: What is NewMarkets International trading schedule? NewMarkets conducts two trading sessions each US business day: 7:30 AM and 11:30 AM Pacific Time. Q: What happens if I miss the trade deadline? Your trade will be automatically processed during the next trading period. Q: Can I submit a trade to be processed at a future date? Yes, FXPartner will allow you to warehouse a trade for up to 30 days. Just designate the future date, submit the trade request, and FXPartner will process the trade automatically on the specified trade date. Q: How do I know if my transaction request has been received and processed? FXPartner notifies you immediately when your trade has been submitted and will confirm trade execution within 25 minutes after it has been traded (7:30am & 11:30am Pacific trade times). Q: When do FX trades settle? Trades executed by NewMarkets settle within International Banking Standards—Trade +2 for all currencies except for the Mexican peso and Canadian dollar, which settle on Trade +1. 
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FX Outsourcing | Trading | Security Security Q: Can an unauthorized person intercept the data in your transaction? NewMarkets addresses concerns about the security of FXPartner transactions by implementing Secure Socket Layer (SSL) encryption at the browser level. Encryption is the scrambling of information during transmission between two points, helping to prevent the information from being intercepted by a third party. SSL is based on the "public/private key" encryption model. NewMarkets has implemented SSL at the 128-bit level, the current standard employed by financial institutions. [Note: you must have an SSL-capable browser. Both Netscape Navigator 3.0 and higher and Microsoft Internet Explorer 3.0 and higher are SSL-capable.] Q: Can an outsider gain access to the FXPartner system? Like many other firms, NewMarkets is very concerned about preventing unauthorized users from entering our FXPartner server. As a precaution against this possibility, we have implemented a firewall and proxy server. NewMarkets' firewall is a combination of a physical device—a router—and software that prevents unauthorized access to the protected area. The firewall identifies types of information "packets" and blocks out the potentially harmful ones. Q: How does FXPartner authenticate a user? The issue of determining identity is very important on the Internet. To allay this concern, NewMarkets has implemented a Verisign digital certificate on our server, which certifies that you are connected to NewMarkets. You can view NewMarkets' digital certificate by clicking on the lock (or key) symbol when you are in the secure portion of our site. A reciprocal concern is client identity. NewMarkets needs to authenticate you as an authorized user when you log into our system. To validate your identity, we protect the site with a NewMarkets-assigned client ID and Security Key Code, which are sent to you via courier. Only the designated Key Code Holder can sign for these codes at the point of delivery. In addition, you define and control individual user IDs and alphanumeric passwords.
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