This course has been designed as advanced training for bank staff, especially those in the areas of international payments operations to provide them with a comprehensive understanding as to the how the international payments (and by implication the foreign exchange) processes work as well as the risks inherent in such procedures and how these can best be mitigated.

International Payments are a major component of the Foreign Exchange market, which operates 24 hours a day. This is the largest and most liquid marketplace in the global economy. According to the Bank for International Settlements, daily turnover averages $1.9 trillion in the foreign exchange market, including $1.3 trillion in the over-the-counter foreign exchange derivatives market.

The liquidity of the market gives businesses access to international markets for goods and services by providing the foreign currency needed to make transactions worldwide. International Payments and the FX market serves commercial and investment banks, foreign exchange dealers and brokerage companies, corporations, money managers (including pension, mutual fund, and commodity pool managers), commodity trading advisors, insurance companies, governments, and central banks.

There are a number of factors which are critical to the smooth functioning of International Payments within this context including:

certainties for all parties active in international payments and foreign exchange.

The increased complexity of the market plus the higher trade volumes have necessitated constant changes in trading procedures, trade capture systems, operational procedures, and risk management tools.

This course seeks to provide a solid foundation to all parties involved in international payments and foreign exchange activities whether at executive, marketing or operational levels into how the actual trading processes work, what the risks are and how these can be mitigated by using clearly defined Standards of Best Practice.

By the end of the training, participants will: