Treasury Services

One-stop access to a wide spectrum of treasury solutions

Manage your treasury and investment needs with OCBC. We provide timely research and market news to keep you abreast of economic and political events which may impact your treasury management decisions.

Foreign Exchange

Manage your foreign exchange requirements according to your business and risk profiles with the round-the-clock services we offer:

  • Market and currency trend analysis
  • Fast, efficient and competitive pricing for all your vanilla spot and forward foreign exchange transactions for all G7 and Asian currencies
  • Competitive pricing for non-deliverable forwards and options help you hedge your requirements in exchange-controlled currencies
  • Solutions with embedded currency derivatives to improve your foreign exchange hedging rates

Spot FX

A purchase or sale of 1 currency against another for delivery of 2 business days after the original date of contract.


Fixed delivery forward FX

A purchase or sale of one currency against another for delivery of more than 2 business days after the original date of contract and also includes transactions of value the same day (value tod) or the next business day (value tom). The pricing of a contract are combinations of the spot price and swap points.

As a hedging tool against foreign exchange fluctuations, a forward FX works well for your expected foreign currency trade receipt or payment on a known date in the future.


Option delivery forward FX

Similar to the fixed delivery forward FX, the option delivery forward FX works as a hedging tool where the delivery of contract can be any time between the dates of contract to maturity.


Multiple options*

A staggered option where at the point of contract, the staggered forward rate will be agreed upon. You will have the flexibility to take up the contract as well as the rates.


Par forward*

A staggered option where at the point of contract, a predetermined staggered forward rate will be agreed upon on the day of fixing. The forward points for the par forward are pro-rated for the duration of the contract, therefore allowing the flexibility of taking up the contract at the same rate throughout.

As such, the par forward permits the planning and management of known cash flows for the period of the contract.


Foreign currency option

Currency options give the holder the right but not the obligation to sell / buy a currency against another currency in the future at a predetermined FX rate (exercise price).

Currency options enable you to take a view on currency movements while protecting your downside risk.

If foreign exchange rates move against you, you may exercise the option at the predetermined exercise price. On the other hand, if foreign exchange rates move in your favour, you may just let the option expire and contract at prevailing market rates.

  • An investor may buy a currency call / put option to hedge against unfavourable movement in exchange rates while maintaining the ability to benefit from favourable exchange rate movement.
  • A buyer of a call option can lock in maximum buying price of a future foreign exchange rate. A buyer of a put option can lock in minimum selling price of a future foreign exchange rate.

*Terms and conditions apply.

Interest Rates

To help you hedge interest rate exposures, we have a broad range of instruments ranging from vanilla interest rate swaps and cross currency swaps to other solutions including interest rate caps, floors, collars and swaptions.

We currently offer these products:

  • Interest rate swap (IRS)

    An IRS is an agreement between two parties to exchange streams of cash flows over multiple specified interest periods, based on a notional principal amount.

    • In a firmer interest rate scenario, a borrower with floating rate borrowings can use IRS to swap them into fixed rate borrowings and vice versa to reduce cost or hedge against interest rate risk.
    • In a declining interest rate scenario, an investor may synthetically convert a floating rate asset into a fixed rate asset and vice versa to improve return or hedge against interest rate risk.
    • IRS can be used to better match interest payment dates for cash flow management purposes.

  • Forward rate agreement (FRA)

    An FRA is an agreement between two counter-parties to exchange a fixed interest payment for a floating interest payment, based on a specific notional principal amount, for a single specific interest period starting sometime in the future.

    FRAs are useful interest rate hedging tools used to manage short-term assets and liabilities, which are exposed to short-term interest rate risk.

    • In a firmer interest rate scenario, a borrower with floating rate borrowings can use FRA to fix future borrowing rate to hedge against interest rate risk.
    • In a declining interest rate scenario, an investor with floating rate asset can use FRA to fix a future investment rate to hedge against reinvestment price risk.

Fixed Income

Fixed income products are instruments with periodic payouts until maturity. These include:

  • Government bonds
  • Corporate bonds
  • Preference shares / perpetual bonds
  • Credit-linked notes which pay fixed or floating interest on a regular basis
  • Cash-settled credit default swaps


To hedge the upside or downside of commodity prices, we offer cash-settled commodity trades to hedge your exposures. Our commodity product offerings include energy, base and precious metals, as well as soft commodities.


To increase the upside or hedge the downside risks of your equity portfolio, we offer either physical stock unit settlements or cash-settled solutions to help you manage your exposure in stocks or stock indices.

Money Market Deposits

OCBC offers you money market instruments to conduct your business in a highly competitive banking environment.


  • Repurchase agreements

    This is an agreement which the seller of securities undertakes to repurchase the securities from a buyer at an agreed price on a specified future date.

    OCBC Bank offers you both Islamic and conventional repos which accommodate your depositary requirements from periods of overnight and above.


  • Negotiable instruments of deposits (NIDs)

    A depository product, negotiable instruments of deposits are certificates issued by the bank specifying that a certain amount has been deposited with the bank at a specified rate for a specific tenure.

    As the name indicates, NIDs are negotiable and can be sold before the maturity date. The minimum and maximum periods are 1 month and 10 years, respectively.


  • Banker’s acceptances (BAs) outright sale

    A Bankers Acceptance is a bill of exchange drawn on a bank with a specific maturity date to finance a customer for a trade transaction. Subsequently, BAs can function as an investment instrument for your surplus funds where the amount and tenure of investment is subject to the availability of BA papers.

Structured Investments

Structured Investments

Structured investments allow you to earn potentially higher returns compared to fixed deposits.

The structured investments are typically linked to underlying financial instruments (e.g. foreign exchange, interest rates, commodity, equity or bond) and, depending on its performance, the principal investment can be returned to you in another asset class (e.g. equity).

With no upfront fees or annual management fees to worry about, this offers an attractive investment opportunity for customers with medium to high risk appetite looking for enhanced yield.


Dual Currency Investments

This structured investment is linked to a pre-agreed currency pair.

Depending on the currency movement, the principal and guaranteed enhanced yield can be returned in either the original investment currency or the alternate currency, at the pre-agreed strike price at maturity.

The latter occurs when the alternate currency weakens against the investment currency beyond the pre-agreed strike price.

Structured Warrants

Warrants are leveraged investments that allow investors to gain exposure to the underlying security without actually owning it.

More about structured warrants

Service, Research and Market News

We offer additional value-added treasury services. These include:

  • Overnight order services to assist you in obtaining your targeted foreign exchange rates after GMT1000 (Malaysia time: 1800 hours).
  • Treasury seminars to provide current insights on the international financial markets. Contact us at to register.
  • Regular and timely cutting-edge analytical research and market updates are available to keep you informed of the economic and world events as well as foreign exchange and interest rate trends.

    View research articles



For the latest rates, see our rates page

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