Editing Foreign exchange spot (section)

== Settlement date ==

The standard settlement timeframe for foreign exchange spot transactions is [[T+2]]; i.e., two business days from the trade date. Notable exceptions are [[United States dollar|USD]]/[[Canadian dollar|CAD]], [[United States dollar|USD]]/[[Turkish lira|TRY]], [[United States dollar|USD]]/[[Philippine peso|PHP]], [[United States dollar|USD]]/[[Russian ruble|RUB]], and offshore [[United States dollar|USD]]/[[Kazakhstani tenge|KZT]] and offshore [[United States dollar|USD]]/[[Pakistani rupee|PKR]] [[currency pair]]s, which settle at T+1. [[United States dollar|USD]]/[[Colombian peso|COP]] settles T+0.
<ref>{{Cite web |url=https://www.hsbcnet.com/gbm/attachments/rise-of-the-rmb/currency-guide-2012.pdf?WT.ac=CIBM_gbm_pro_rmbrise_pbx01_On |title=Archived copy |access-date=2018-07-10 |archive-date=2017-03-13 |archive-url=https://web.archive.org/web/20170313145206/https://www.hsbcnet.com/gbm/attachments/rise-of-the-rmb/currency-guide-2012.pdf?WT.ac=CIBM_gbm_pro_rmbrise_pbx01_On |url-status=dead }}</ref> Majority of SME FX payments are made through Spot FX, partially because businesses aren't aware of alternatives.<ref name="MoneyTransferComparison" />