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NDFs available for Asian and Latin currencies

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 

Trade execution

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

Requirements for trading NDFs

The minimum trade size for NDFs is USD 500,000 with a maximum open net position per currency capped at USD 5 - 50m.

NDFs are available to Premium Clients who are also required to sign an addendum to Saxo’s General Business Terms - contact your Account Manager if you are interested in trading NDFs.

Margin requirements

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

 

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