When do I exercise my Exchange Rate Guarantee contract?
You can only exercise your Exchange Rate Guarantee (ERG) contract on the expiry dates. This date is established at the start of your contract. If on the expiry date the current market rate is better, you can let your ERG contract lapse and deal at the current rate. If the current market rate is worse you can take advantage of the rate secured, by exercising your contract.
However, if you would like to complete your currency transfer before the expiry date, you can simply trade at the current market rate, allowing your ERG contract to lapse.