Abstract: Managing foreign payments in an International ACH. An originating depository financial institution (“ODFI”) can create an ACH item designating a fixed amount of foreign currency to be credited to, or a fixed amount of domestic currency to be debited from, a receiving depository financial institution. In a variable to fixed payment, a conversion module of the ODFI or a gateway operator can determine a foreign exchange (“FX”) conversion rate. Using the FX conversion rate, the conversion module can calculate a domestic currency amount or a foreign currency amount corresponding to the desired foreign/domestic currency payment. The conversion module can enter the FX conversion rate and/or the determined domestic/foreign currency amount into the ACH item for processing via the International ACH. In a fixed to fixed payment, the ODFI can transmit information about the foreign currency payment via the International ACH and settle the payment via ACH or non-ACH means.

Abstract: This invention concerns forfaiting transactions. In particular it concerns methods of operating a computerized forfaiting exchange to develop forfaiting transactions. In another aspect it concerns a computerized forfaiting exchange. The exchange allows the parties to screen counter party types and asset types, to make the transactions more efficient. It also able to provide assistance in ensuring appropriate documentation is used and is properly completed.