Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ& Australia leading US in online FX transactions

New Zealand & Australia leading US in on-line FX transactions says Custom House

AUCKLAND, Nov. 8 /CNW-AsiaNet/ --


"Local companies are going online faster than in the US to carry out increasingly large numbers of cross-border business transactions," says Fraser Jeffries, Vice President Asia Pacific for Custom House Global Foreign Exchange.

"We're seeing a dramatic increase to as much as 80% in our online transactions," says Jeffries. "That's versus a traditional 25% in the industry for online foreign exchange. The increase is so pronounced that Custom House is moving into larger premises and more than doubling our staff."

Custom House has operations throughout North America, Australia, New Zealand, Singapore, the UK and Europe. "We know from our statistics in the US that New Zealand and Australia are leaders in adopting our Vista online trading platform," says Jeffries.

"Vista provides enormous efficiencies for companies that do a large number of cross-border transactions," said Jeffries. "What used to take a couple of days now takes a couple of minutes."

Custom House has a regional head office in Auckland that serves the North and South Islands of New Zealand and the company's operations throughout Australia and in Singapore. The Asia Pacific region represents approximately $2.5 billion or one quarter of the company's business.

Custom House Global Foreign Exchange handles more than US $10 billion in transactions annually for 45,000 clients in Australia, Canada, Italy, New Zealand, Singapore, the United Kingdom and the United States. The company recently opened its 83rd international branch in Singapore. Custom House provides currency exchange solutions to pay foreign invoices and exchange foreign receivables. The company offers foreign exchange currency drafts, international wires, forward contracts, a foreign exchange rate watch service, world market updates and transactions through its online platform for importers, exporters and financial institutions.

Custom House's Web site is www.customhouse.com. Now you're Playing with the Big Boys.

'CUSTOM HOUSE IS A PROUD SPONSOR OF CANADA'S NATIONAL RUGBY TEAMS AND A PREMIER PARTNER OF THE PGA TOUR.'

SOURCE: Custom House Global Foreign Exchange

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>

Sci-Tech: Perseverance Rover Lands On Mars – Expert Reaction

NASA has landed a car-sized rover on the red planet to search for signs of past life. The vehicle has more instruments than the four rovers preceding it, and it’s also carrying gear that could help pave the way for human exploration of Mars. The ... More>>

ALSO:


ASB: Quarterly Economic Forecast Predicts OCR Hike As Early As August 2022

Predictions of interest rate rises have been brought forward 12 months in ASB’s latest Quarterly Economic Forecast. Chief Economist Nick Tuffley now expects the RBNZ to begin raising the OCR from its current level of 0.25% as early as August ... More>>

ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>

OECD: Unemployment Rate Stable At 6.9% In December 2020, 1.7 Percentage Points Higher Than In February 2020

The OECD area unemployment rate was stable at 6.9% in December 2020, remaining 1.7 percentage points above the level observed in February 2020, before the COVID-19 pandemic hit the labour market. [1] In December, the unemployment rate was also stable ... More>>

Stats NZ: Unemployment Drops To 4.9 Percent As Employment Picks Up

The seasonally adjusted unemployment rate dropped to 4.9 percent in the December 2020 quarter, from 5.3 percent in the September 2020 quarter, Stats NZ said today. Last quarter’s unemployment rate of 5.3 percent followed the largest increase observed ... More>>