Treasury and Financial Risk Management Systems

     Treasury and Risk Management Systems (PERMIT®, PERMIT® Batch Manager, PERMIT®
    Reports Manager, PERMIT® Auto-Feeds Manager, PERMIT® PayMaster, PERMIT® Risk
    Manager, PERMIT® Portfolio Manager and PERMIT® Training Manager) & Knowledge
    Management System (PEKE®) are the world's first comprehensive software to adopt the
    PET-DOG® System.

The PERMIT^® System

Spot / Forward Contracts

1. Spot Contracts gives the holder the right and the obligation to
    purchase the underlying at a pre-agreed price, known as the
    spot rate or strike price, at contract delivery, which is also
    known as the spot date.

2. Forward Contracts gives the holder the right and the obligation
    to purchase the underlying at a pre-agreed price, known as the
    forward rate or strike price, at contract maturity, which is
    usually a date that is beyond the spot date.

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