Capital Currency Exchange, N.V. v. National Westminster Bank PLC

McLAUGHLIN, Circuit Judge:

BACKGROUND

Capital Currency Exchange, N.V. • (“CCE”), is a financial company organized under the laws of the Netherlands Antilles. CCE has a number of affiliates, including Chequepoint Worldcash, Inc. (“Worldcash”), a New York corporation, and Chequepoint (UK) Ltd. (“Chequepoint UK”), a British Virgin Islands company that transacts business in Great Britain.

CCE and its affiliates are engaged principally in two kinds of international financial transactions: (1) retail currency exchange, e.g., changing pounds to dollars for tourists; and (2) money transfers, e.g.,…