Currency Swaps

A Currency Swap is a foreign exchange derivative that can allow a company to enter into a foreign market with the benefit of domestic rates in the respective country. Businesses that trade internationally protect themselves from currency fluctuations by entering into complex hedging agreements with their Bank.

Currency Swaps can be very flexible with long-term maturities; however, lack of transparency around pricing can often lead to higher costs. Currency hedging products take many forms, such as Caps, Options and Puts, and can be extremely complex, often making them unsuitable.

The complexity of a Currency Swap can often make it difficult to identify whether it was mis-sold, our experienced team will be able to pinpoint the viability of any potential claim.

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The FX market

The Foreign Exchange (FX) market is one of the largest markets in the world, with trading in FX markets averaging to £5.3 trillion a day, growing year upon year. The biggest geographic trading centre is the United Kingdom, principally London, with 40% of daily activity taking place there.

Seneca are able to analyse the financial suitability of Currency Swaps and advise businesses on the grounds of a claim. We have recovered millions on behalf of businesses affected by hedging products, uniquely placing us as a UK market leader.

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Whether you’re looking to discuss a potentially mis-sold currency swap, or to find out more about our specialist services, get in touch. Fill in the form below and a member of our team will call you right back.

How can Seneca help?

When selecting your advisor, choose a business partner that extends capabilities beyond the claims process. At Seneca Banking, our team are equipped with comprehensive knowledge of the banking sector, structured lending products and the associated contracts.

If you have been mis-sold a Currency Swap, get in touch for a free no obligation consultation with a member of the Seneca Banking Team.

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For more information about Seneca Banking and the services that we offer, please do not hesitate to get in touch. Fill in the form below and we’ll call you right back.

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