Currency conversion
Simple, transparent and cost-effective
We know converting your cash from one currency to another can be complex and time consuming. Now there is a better way. We stripped out the unnecessary layers of process and made it easy for you to convert currency as an optional extra to your standard cash investment activity on our platform.
Same easy platform but with a little FXtra
Seamless currency conversion
Integrated directly into your standard investment activities for effortless use.
Transparent and auditable rates
Rates tied to the global standard wholesale benchmark WMR Intra-day Spot rates, published hourly by FTSE Russell.
Near-instant settlement
Your funds are available for use within 30 minutes of the published WMR benchmark.
Step away from the charts
Your rate will always be at the applicable WMR Intra-day mid-market benchmark plus a competitive spread, so no more second-guessing the market.
Never miss a day of yield on your cash
Convert on maturity of an FTF, and immediately subscribe for another FTF in the converted currency.
Efficiency and simplicity
Reduce administrative burden, operational risks, and complexity, allowing your team to focus on core responsibilities.
TreasurySpring offered me complete transparency on where the wholesale market is and what my spread would be. I was under no time pressure and the conversion itself couldn’t have been easier. They did it all!
Sumé von Berg, Director of Finance and Operations, Attio
Want to dive a bit deeper?
Everything you need to know…
How does currency conversion work at TreasurySpring?
The currency conversion process at TreasurySpring is fully automated and seamless, with all transactions executed and settled* on conversion day with minimal client intervention, as parameters are pre-agreed. This ensures efficiency, transparency, and peace of mind.
A client can convert funds coming out of any redeeming FTF simply by choosing ‘convert’ as the ‘next action’ on that Fixed-Term Fund, before the ‘next actions’ cut-off (typically 12:15pm one business day before the redemption date). A client can also choose to convert on the way into a Fixed-Term Fund, by sending funds in a different currency to the base currency of FTF they would like to subscribe for, and then simply clicking ‘convert’ on the cash holding, once it is showing on the TreasurySpring portal.
TreasurySpring always transacts currency conversion against a regulated benchmark, currently the global standard WMR Intra-day Spot rate as published by FTSE Russell every hour, on the hour throughout the trading day.
Because clients decide in advance how much they would like to convert, and into which currency, currency conversion orders can be submitted hours or even days in advance, knowing that they will be converted on the redemption date with reference to the applicable benchmark rate. No more chart-watching or buyer’s remorse about when and at what price you executed.
The benchmark rates, published by FTSE Russell—a leader in financial market data—are derived from real and verifiable market transactions, and apply multiple validation techniques, ensuring they are robust and representative of actual market activity.
*Due to currency conventions and/or holidays, some currencies may settle the following day.
Why did TreasurySpring decide to add currency conversion?
The decision to build the currency conversion product came from client feedback and observing client needs in a treasury environment, which tend to be entirely different to the needs of currency traders.
The approach we take to currency conversion aligns with TreasurySpring’s core mission of levelling the playing field in financial markets. Just as with our other products, we aim to demystify foreign exchange markets by giving all clients access to the same high-quality infrastructure traditionally reserved for the largest institutions.
Since there is no single exchange for currency trading, prices typically depend on individual providers’ discretion. Our transparent, benchmark-based approach eliminates the opacity that often benefits intermediaries at the client’s expense, with the added convenience of time savings and the comfort provided by full auditability.
How can this benefit TreasurySpring clients?
Previously, clients had to withdraw funds to convert currencies through other providers, creating extra work, incurring bank fees, and requiring advance planning to ensure timely conversions. Now, cash can stay invested until conversion day, preserving yield and eliminating additional transfers. Converted funds are available for re-subscription to a new FTF on the conversion date, or can be withdrawn to the client’s designated bank account.
With TreasurySpring’s shortest FTF maturity of just a few days, clients can invest cash that would otherwise sit idle in non-interest-bearing accounts before conversion. This can maximize efficiency and returns.
The platform offers flexible redemption options when using currency conversion. Clients can convert part or all of a maturing FTF into multiple currencies with any balance re-invested in the usual way.
Which currencies are currently supported on the platform?
TreasurySpring offers the main three currencies of USD, EUR and GBP, as well as CHF and CAD. More currencies will be added over time, based on client-feedback, with Mexican Peso, South African Rand, Singapore Dollar and Australian Dollar being likely next candidates.
What does it cost?
Currency conversion is an extension to the treasury services within the TreasurySpring portal and therefore has no additional fees or onboarding documentation.* TreasurySpring charges a pre-agreed transparent spread from the WMR Intra-day mid-market rate. The spread varies based on transaction size, with larger amounts typically receiving a tighter spread. This will always be visible on the ‘next actions’ page when selecting currency conversion.
*Subject to the TreasurySpring currency conversion terms & conditions.
Can I cancel the currency conversion request?
As with all next actions, prior to the FTF cut-off, the client will be able to make changes to any ‘next action’ including currency conversion requests.
After cut-off, the client may request to cancel the conversion up until 10am London time on the day of conversion, via the TreasurySpring chat function on the portal, and we will endeavour to assist.
