Emerging Markets Rates and Currencies Handbook

FX Spot FX Forwards NDFs FX Options Interest Rate Swap Interest Rate Options XCCY swaps Market Overview Availability of the instrument Volume (MM USD Daily) Max Tenor (Or Typical Tenor For Spot) Typical Deal Size (MM USD)  300 - 700 T+2 1 - 5  500 - 1,500 2 years 1 - 5 ✗ N/A N/A N/A  100 - 300 2 years 1 - 5  50-100 15 years 5 -10 ✗ N/A N/A N/A  50 - 100 10 years 10 - 30 CitiFX Pulse Capabilities   ✗  ✗ ✗ ✗ Source: Citi indicative information Market opening hours and liquidity during the day Fixing National Bank Fixing populated i.e. on HUFE Reuters page. Not tradeable but used for accounting purposes similarly to ECB fixing. Regulation Non-Resident Restrictions: No restriction. Offshore Restrictions: No restriction. License Requirements Local or EU passported license is required for providing financial and/or investment services. Requirements to open a foreign currency account No restriction. Deal Management Rollover: Permitted gross/net settlement. Based on Citi’s policy no historical rate rollover. Unwinding: Permitted at prevailing market rate. Early Maturity: Roll back/Roll FWD are permitted at market rate. Please note that certain restrictions apply for Retail clients under MiFID rules. Early Take Up (ETU): Permitted, final FX rate is adjusted based on actual market conditions. Documentation Requirements If trade is performed by Citibank Europe plc, payment agreement, phone or online trading agreement is required for spot trading. ISDA or equivalent agreement is required for derivatives. EMIR and MiFID regulatory requirements are to be met, i.e. requirement to obtain LEI, margining requirement on margining for FCs and NFC+s or Means of Payment declaration for Retail clients. Trade Flows No local law documentation requirements. Capital Flow and FDI No local law documentation requirements. Citibank Europe plc Hungarian Branch Office 1133 Budapest, Váci út 80. Promenad Gardens FX Sales Contact: +36 1 374 5590