During 2007, the U.S. dollar sank to historic lows against the euro, contributing to an increased focus on global currencies worldwide and throughout the United States. Investment professionals who relied on our foreign exchange (FX) capabilities helped their clients capture the profits that these fluctuations contain.

Our Foreign Exchange Desk provides the specialized expertise that you need to compete in this increasingly important asset class and is ready, willing, and able to help you execute both spot and forward transactions. Whether your clients need to convert one currency into another in a spot trade, or want to hedge their portfolios against currency risk with a forward trade, our desk can help. And, remember, currency activity appears on your clients' consolidated brokerage account statements, and they receive confirmations for every FX trade.

One-Stop Platform
You already know that NetExchange Pro^® is a powerful platform, but did you also know that it can help facilitate your FX trades?

• Streamlined trade entry - allows cross-currency foreign exchange spot trades in nearly 50 global currencies in one easy step, and is no longer limited to U.S. dollar buys or sells
• Real-time pricing and executions - NetExchange Pro also gives you the ability to review your trades prior to execution, which can reduce the opportunity for error and improve your efficiency

Added Strengths throughout 2008
Pershing is expanding its FX functionalities this year that will help you to capitalize on the increased public awareness of global currencies and strengthen the FX capabilities that you can offer your clients.

• Global margin (Delivered in First Quarter 2008) - The introduction of global margin by Pershing enables your clients to hold short currency positions in their brokerage accounts. Now, clients who believe that one currency may be weaker than another can sell short the weaker currency and buy the stronger currency. Equally important, the introduction of global margin will allow your clients to pledge their non-U.S. dollar assets as collateral—increasing their overall buying power.
• Non-U.S. dollar money markets - Pershing will soon begin offering non-U.S. dollar-denominated money market funds to help you attract prospects and capture assets from existing clients that may be held at competing financial organizations.
• Tax reporting in non-U.S. dollar retirement accounts - Pershing will also deliver a streamlined process to generate the correct required tax reporting for non-U.S. dollar retirement accounts, which will allow your clients to diversify their retirement accounts with non-U.S. dollar-denominated investments.

The bottom line for your bottom line: a new world of investment opportunities for you and your clients.

Learn More
Today’s global economy offers unprecedented opportunities in FX. To learn more about Pershing’s capabilities in this area, or to gain in-depth understanding of FX strategies that might be right for your clients, contact your home office or the Foreign Exchange Desk at (201) 413-3450.

Think, Trade, and Profit Globally
Our foreign exchange capabilities make it easy to pursue opportunities in many of the world’s most widely held currencies¹:

• Argentine Peso (ARS)
• Australian Dollar (AUD)
• Bangladesh Taka (BDT)
• British Pound (GBP)
• Bulgarian Lev (BGN)
• Brazilian Real (BRL)
• Canadian Dollar (CAD)
• Costa Rican Colon (CRC)
• Croatian Kuna (HRK)
• Czech Koruna (CZK)
• Danish Krone (DKK)
• Egyptian Pound (EGP)
• Estonian Kroon (EEK)
• Euro (EUR)
• Hong Kong Dollar (HKD)
• Hungarian Forint (HUF)
• Icelandic Króna (ISK)
• Indonesian Rupiah (IDR)
• Israeli Shekel (ILS)
• Japanese Yen (JPY)
• Korean (South) Won (KRW)
• Latvian Lats (LVL)
• Lithuanian Litas (LTL)
• Malaysian Ringgit (MYR)
• Mauritian Rupee (MUR)
• New Mexican Peso (MXN)
• Moroccan Dirham (MAD)
• Namibian Dollar (NAD)
• New Turkish Lira (TRY)
• New Zealand Dollar (NZD)
• Norwegian Krone (NOK)
• Peruvian Nuevo Sol (PEN)
• Philippine Peso (PHP)
• New Polish Zloty (PLN)
• Singapore Dollar (SGD)
• Slovak Koruna (SKK)
• Slovenian Tolar (SIT)
• South African Rand (ZAR)
• Sri Lankan Rupee (LKR)
• Swedish Krona (SEK)
• Swiss Franc (CHF)
• Thai Baht (THB)
• Venezuelan Bolivar (VEB)
• Zambian Kwacha (ZMK)

¹This list is for informational purposes only. Currencies are subject to credit review. You may not be able to trade all of the currencies listed. Pershing will also consider requests for additional currencies.