Foreign Exchange

Banca IMI is one of the main Italian intermediaries operating in the international foreign-exchange market, providing clients with continuous quotations in all market conditions, with respect to the world's leading currencies (G20) and the currencies of emerging markets.
Making use of Intesa Sanpaolo's international network, and the many other banks controlled by the Group, Banca IMI ensures to businesses and financial institutions a local market coverage to support all of their needs in relation to cross-border activity.
In addition to Milan, where it has its head office, Banca IMI is present in London and, through the subsidiary, Banca IMI Securities Corporation, in New York*, with a team dedicated to covering local clients and counterparties who have specific cross-border needs.  The Banca IMI professionals also work closely and regularly with the Intesa Sanpaolo Capital Markets Desk in Hong Kong.  With its geographic reach, the team provides efficient coverage of time zones, extending to Continental and East Europe, the Middle East, the Americas, and Asia.  
After completing a comprehensive analysis of a client's needs, the FX Desk precisely identifies the main foreign-exchange risks to which the client is exposed and proposes customized solutions on the basis of the client's specific requirements.
Banca IMI also offers a vast array of tailor-made foreign-exchange solutions for the purpose of satisfying needs for the hedging of trade flows and the optimization of a foreign-exchange portfolio, whether from the standpoint of investment (assets) or funding (liabilities).
The product portfolio proposed by Banca IMI includes all derivatives (plain-vanilla and first- and second-generation exotic derivatives) as well as traditional cash products (spot, forward and swap transactions).
A special emphasis has been placed on systematic hedging for risk diversification, but also on the methodologies for managing a portfolio of hedging instruments, with the aim of minimizing cash-flow dispersion.
The Bank identifies solutions for employing liquidity that will also allow for optimizing yields in terms of risk-adjusted performance (alpha coefficient), considering the foreign-exchange market as a strictly separate and independent asset class.
Exposure to international currencies allows for pinpointing investment and financing opportunities from a diversification standpoint.  Against this backdrop, Banca IMI's Structuring Desk develops investment, financing and hedging solutions, which also adapt systematic strategies to the clients' asset-liability management requirements.

Intesa Sanpaolo's Research Department provides a vast array of research covering the markets of the G20 and emerging countries.


Platforms

The partnership between the FX Desk and Market Hub made it possible to develop a new channel for servicing the trading of FX cash products.  As currently configured, this service operates alongside the traditional telephonic channel, and has the following characteristics:

  • More than 60 currency pairs quoted
  • Access through multi-dealer platforms or Intesa Sanpaolo's InBiz portal (single dealer platform)
  • Transparency in execution of FX spot, forward and swap transactions, with price streaming, real-time updates and autopricing with manual functions for larger or longer data trades


With the integration of the single-dealer FX platform within the InBiz portal, Intesa Sanpaolo's corporate internet banking solution, the Group has enlarged the portfolio of products available to clients from a one-stop shop standpoint.
The Intesa Sanpaolo Group has elected to take part in the following other multi-dealer platforms which are recognized at an international level as the best in their class: FXALL, Bloomberg and 360T.

 

Banca Imi has signed up the Statement of Commitment to the FX Global Code, a set of principles generally recognised as good practice in the wholesale foreign exchange market (“FX Market”).
The Bank has so taken appropriate steps, based on the size and complexity of its activities, and the nature of its engagement in the FX Market, to align its activities with the principles of the Code.
With this purpose, you'll find here the Banca IMI FX Disclosure Notice that, in consistency with the principles of the Code, aims to provide better disclosure to the role acted by the bank in handling FX orders.



* U.S. persons, as defined by the Securities Act of 1933, are advised to contact Banca IMI Securities Corporation directly.