The OLYMPIC Banking System supports Spot, Forward and Swap transactions, forex spot transactions fully multi-currency and offers a very flexible accounting platform. The impact of foreign currency accounts and positions is fully customisable and fully in real-time. The system can also re-evaluate outstanding foreign currency positions automatically by interpolating the outright rate for the remaining period for each open currency contract based on the interest rate yield curve. The bank has the choice of simulating or booking the unrealised profit or loss for each contract on provision accounts.
After the transaction was executed, the client receives this deposit back. Any losses which may occur due to exchange rate fluctuations are covered with the deposit. SWAPSWAP is a banking transaction that consists of two opposite conversion transactions over the same amount of money. Also in this transaction, the client beforehand knows both exchange rates. The SWAP transaction has an important advantage: The client knows the exchange rates, and therefore, can avoid the market rates fluctuations. This service is popular among financial and trading companies. For example, the company with dollars on the account buys and sells goods using Euro.