Pershing NetX360: International and Foreign Exchange (FX) Trading

Pershing provides international trading capability enabling advisors to enter foreign equity and fixed income orders and currency exchange (FX) transactions on NetX360. The proceeds for orders can be received or paid for in either U.S. dollars or the local currency of any of the countries listed as available for international trading.

Accounts must be approved by Spire Operations and coded for Non-USD trading Authorization. Have the client complete and sign the International trading Supplement and scan the form into the approval queue. Once approved, Spire will code the account for Non-USD trading. Standard Spire equity and fixed income commission schedules apply to International trades.

FX facilitates the conversion of one currency into another and provides the client with an efficient means of sending and receiving funds globally and of financing international transactions in their brokerage accounts. NETX360 gives you access to pricing and executions, along with the ability to view your current activity in real-time, and to review transactions prior to execution, improving   efficiency and reducing errors.

Spire charges a $50.00 transaction fee per FX transaction.

Procedures

1. Advisors requesting the International and or FX trading should submit a request for such to [e-mail]. Once approved Spire will have your Netx360 user ID activated.
2. Prior to submitting the request you should read the FX reference materials for Trading and Order Management in the Resources tab in Netx360.
3. Read the Task References “How to Enter a Foreign Exchange (FX)Transaction, How to Enter an International Equity Transaction and How to Enter an International Fixed Income Transaction.”
4. Client accounts must be approved for International and FX trading and then activated on Netx360.
5. Submit a client signed International Trading Supplement Form to Spire Operations using the document approval process mentioned above. The form is located on Spire’s Intranet site under Operations > Forms.
6. Once Spire approves International/FX trading for the client we will code the account accordingly so you can begin trading.
7. Trade questions and issues regarding international and FX trades should be directed to Spire Trade Services [e-mail] Monday through Friday 8:30 AM ET to 4:30 PM ET.
8. FX After hours, contact the Pershing Foreign Exchange Department: 201-413-3450; E-mail address: [e-mail] .
9. Global Equities – 201-413-4900
10. International Fixed Income – 800-924-9696, option 1
11. Pershing's International Trade desk is open 24/6, from Sunday at 6:00 p.m. to Friday 5:00 p.m. ET.
12. Commission Overrides – on trades you want to override the standard Spire commission call the order into the trade desk specifying the commission you want to charge. Note that global trades are more expensive then domestic because, in addition to the clearing and execution charges, there are fees for settlement per country.