Presentation on theme: "Your Trusted Foreign Exchange Provider Who are WirePay? WirePay is the US subsidiary of London based foreign exchange trading house Infinity International,"— Presentation transcript:
Your Trusted Foreign Exchange Provider
Who are WirePay? WirePay is the US subsidiary of London based foreign exchange trading house Infinity International, Ltd. Operating since March 2012 We are registered with FinCEN (US Department of Treasury) We are also Bonded and Licensed in Commonwealth of MA Our management team has over 50 years collective experience We have over 3000 clients globally on our books We currently execute on average over 100 international wires daily
Who is Darren Hutchinson? I personally have 13 years experience in FX markets. In 2000 I started at FX Solutions as a trainee, left as Senior Trader In 2006 I formed Axia Fx Ltd and sold my stake in 2009. Moved to US in 2009. Became 2010 Foreign Relations Director Boston Merchant Financial Incorporated WirePay in 2012. Left Boston Merchant Financial this year. I am married to Pamela who is from Acushnet. We have a 2 year old Son Max and another baby due in March.
What is Foreign Exchange? Foreign Exchange (forex, FX, or currency market) The market in which participants are able to buy, sell, exchange and speculate on currencies. The forex markets is made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors. It is the largest traded financial market in the world with a daily turnover of $5 Trillion Dollars, with London being the dominant force of that turnover.
THERE ARE 168 DIFFERENT CURRENCIES IN THE WORLD The world is a smaller place!
What we did for Wine importer? Benchmarking against their current currency supplier. Historic price matching across their last 5 invoices. Suggest trading strategies to protect their profit against exposure Make sure that they are correctly “HEDGED” against the Euro Result saving them over $20,000K per year
What is a Currency Hedge In very simple terms, currency hedging is the act of entering into a financial contract in order to protect against unexpected, expected or anticipated changes in currency exchange rates.
What we did for Tour Operator? Make sure they are getting the best rates of exchange. Provided them a better foreign exchange price by 0.5% Reduced their wiring yearly fees from $9K to $3150.00 Gave them online technology to make batch payments Total saving per year $9150.00
What we did for client sending funds to Israel? Secure method rather than sending checks overseas Make sure they are getting the best rates of exchange Provided them with a cheaper solution to collect funds domestically Reduced their wiring yearly fees from $40.00 to $2.00 Gave them online technology to make payments Streamline regular monthly payment to a effortless solution Saving per year $1,536.00 on their regular payments
What you will get from WirePay? Competitive foreign exchange rates Reliable, transparent service Dedicated account manager A company that is secure, compliant and regulated
Companies that will benefit from WirePay services Import or export goods Deliver services in overseas locations Engage in cross border trade Own or manage overseas assets and facilities Compete in the international business arena
Why Individuals will use WirePay To transfer funds to an offshore location To make regular monthly payments for mortgage, pensions of have dividends Are emigrating to a new country Will be buying high value items antiques, art or fine wine Acquiring or selling property in another country