Global Trade Marketplace - Handling International trades as an Exchange
Posted by Bruce Kamm on June 27 2010 10:48 PM
Q: How does an exchange handle international trades?
A: Each exchange is only concerned with their own member's trades. If a U.S. member buys or sells with a Canadian member, or any international member for that matter, the trade is deducted from or credited to the US member’s account and the other party to the trade receives or pays the appropriate amount in their local currency. The system automatically does currency conversion so that they seller receives the proper amount in their local currency and the buyer is charged in their local currency.