Initial deposits
François Cosnier avatar
Written by François Cosnier
Updated over a week ago

When booking a forward contract with iBanFirst you will be asked to pay an upfront deposit expressed as a percentage of the notional amount you have dealt in order to secure iBanFirst against any future financial loss we may incur as a result of entering into a transaction with you.

Your Initial Deposit Parameters can be found on your iBanFirst Platform > Collateral Account > Rules & Parameters

Ex 1: Degressive Initial Deposit as maturity grows nearer

Booking a contract with maturity under 180 days will require an Initial Deposit of 5% of the notional. This 5% Initial Deposit will be blocked on your Collateral Account until the remaining maturity of this contract is under 30 days at which point iBanFirst will only require 3% of the notional. You will be able to retrieve the extra 2% collateral.

Ex2: Flat Initial Deposit

You will be required to post an Initial Deposit of 2% whatever the maturity of the contract and you will be able to retrieve the collateral posted upon settlement of the contract.

How do I post collateral on the iBanFirst platform?

Once you have top-upped your iBanFirst account with the sufficient amount > Connect to the platform > Collateral Account > Click on “Credit/Debit account” > Post your Collateral Requirements

How can I retrieve the Collateral posted?

You can transfer the amount of released collateral to your main account at your convenience from your “Collateral Account” Page > Click on “Credit/Debit account” > Retrieve your Collateral Requirements

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