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To: energyplay who wrote (47852)	3/31/2004 11:18:31 AM
From: rolatzi	Respond to of 74559

For the foreign currency CD's I've only dealt with them by mail. I guess you can wire the money but there doesn't seem to be any simple internet option. Perhaps if you already have a bank account at Everbank you can transfer money from one account to another. I have two different CD's the first is called Petrol CD which includes the Norwegian krone, the British pound, and the Mexican peso. I also have a Commodity CD which includes the Australian dollar, the New Zealand dollar, the Canadian dollar, and the South African rand. I have 6 month CD's for each. They just sent me notice (snail mail) asking for directions on rollover at maturity. It will automatically be placed in the same CD with same maturity. The advantage of keeping the same currency CD is that you don't pay currency exchange fees except when you convert back to dollars. I think they claim a fee of 3/4 of 1%. I am using this account as part of my fixed savings. Thus convenience is not that important. I suppose if Everbank had more investment products I might use it as part of an integrated trading program. Rolatzi

To: energyplay who wrote (47852)	3/31/2004 2:37:43 PM
From: endgame	Respond to of 74559

Hi EP, Please allow me to jump in as I have also used Everbank's "commodities CD". I have conducted business with Chris Gaffney at their currency trading desk and he is very helpful. In general I think Everbank is top notch, however... IMO for the Everbank CD to work you mentally need to park that money for 6-12 months (that's a long time in these crazy times) and give up on any fine tuning of the actual currency trade. The actual "slippage" in my case entirely eliminated the 4% interest return. It is not easy to track your NAV in the synthetic "I02" currency. I do not understand why they don't make NAV transparent (you have to call the currency desk whenever you need a quote). What nailed me last fall was a sharp fall in CAD and ZAR (~8%) in between the time I requested distribution (you have to do this around a week in advance) and the actual currency trade. I just don't like leaving that much room for bad stuff to happen (cuz it usually does). things you may want to to consider: 1. ZAR component is volatile, 2 separate CDs in AUD and CAD would probably be much less so. (NZD = AUD as far as I can tell) 2. Everbank's round trip conversion commission is .75 + .75 = 1.5%. (But don't forget there is also trading spread slippage). 3. once your money is at Everbank, you can choose when to deploy the CD, but the currency trades will happen next business morning (or perhaps two) 4. you may want to leave headroom for FDIC insurance after appreciation 5. approx a week before CD rollover day you must choose to rollover or convert back to USD. Your hand is forced, you can't keep the currency "liquid" while you "monitor" the exchange rate. I now prefer Interactive Brokers for currency trading. (acutally, I believe options or futures might be better way to go and tie up less cash, but I am not experienced in that area). Dancer