Hong Kong engages in significant amounts of this form of trade. A computerised settlement and depository system for safe custody, delivery of, and payment for Eurobonds. The settlement convention is three business days after trade. The rates quoted for Euro-currencies. A long-term loan issued in a currency other than that of the country or market in which it is issued.
Interest is paid without the deduction of tax.
A currency domiciled outside its country of origin normally held by non residents. Swiss French or Belgian francs traded on the Eurocurrency market. Normally swiss as the more common currency. Deutschmarks traded on the Eurocurrency market. Italy and the UK are currently not part of the system.