FX

With our FX service, you can easily buy and sell different currencies between your own accounts. You can choose to trade with options available for today, tomorrow, or on a SPOT basis.

To access this feature:

1. Go to the left navigation bar on your dashboard.
2. Click on FX.

This will allow you to view, manage and initiate currency transactions.

Accessing more details about your trades

To view the details of a trade, simply click on the trade.

A detail drawer will appear on the right side of the screen, displaying all relevant information (Fig. 2 FX Detail drawer)

Request for quote

In some scenarios it is necessary to know the exchange rate before executing a transaction. Our Request-For-Quote (RFQ) feature enables you to see a firm (tradable) foreign exchange quote that is valid for 30 seconds at a time for any of our supported value dates (today, tomorrow, and SPOT).

In principle, this is exactly the rate that you would have received for an executed trade, if you accepted the rate given

Each transaction will be settled in your currency accounts immediately following your confirmation, provided your original request was for today's value date and you are not utilizing a trading line.

Transactions with a value date in the future, such as TN (tomorrow) or SPOT, will not be settled until the value date arrives and you have sufficient funding in your account.

How to execute a trade:

Our FX trading follows a Request-For-Quote (RFQ) process, which involves three simple steps:

1. Request a Quote: Start by entering the details of the trade you wish to make. This will generate a request for a quote.
2. Receive a Quote: The system will return a quote, displaying the currency pair and the rate.
3. Execute or Reject: Review the quote and decide whether to proceed with the trade, swap the currency pair direction, or reject the offer.

Step 1: Request a quote

1. Click the Trade FX button located in the top-right corner of the screen to begin.
2. Select the accounts that you want to sell from and buy to. That will automatically select the currencies of the trade and display your trade utilization as a percentage on the Trade FX screen. This feature will work if you have agreed one with your Relationship Manager and it is set up in your configuration.
3. Select the Tenor. You can select TOD (T+0), TOM (T+1) or SPOT (T+2).
   1. Depending on your setup, you might only be able to trade TOD. If you wish to trade TOM or SPOT, reach out to your Relationship Manager.
4. Enter the amount that you either want to sell or to buy. You either fill in Sell amount or Buy amount.
5. Choose the currency pair direction that you want the quote displayed in. You have the flexibility to request the rate to be displayed in market convention or inverse pricing.
6. Optional: Add a note to the trade, e.g., to easily identify the trade or adding a purpose of the trade.
7. Hit the button "Get a quote".

Step 2: Receive a quote

8. We will return the currency pair rate and the corresponding amount.
9. The rate is valid for 30 seconds.

• If you do not execute the trade, a new rate will automatically update

Step 3: Execute trade or reject

10. Click on the "Place order" button to execute the trade

    1. A confirmation message will appear. (Fig 4 Success message) Note that it can take a few seconds before the trade shows in your list of trades. There can be a small syncing delay.
    2. You will see an error message if there is a problem with your account (Fig 5 Example Error message)
       "Account: {account selected} provided does not have any configured FX settlement instructions. Please contact client services for support.",
    3. If there is an issue with the request or a generic connection or server error occurs, the following message will typically appear:
       "Customer ID not mapped. Please contact client services."
    4. if the trade goes over your approved trading line:
       "Trade cannot be completed as it would exceed your maximum allowed open positions. Contact your Relationship Manager to request an increase."
    
    

    

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Don't see the FX menu item when you log in?

There can be two reasons of why you don't see the FX features:

1. You don’t have the right permissions, reach out to your Admin.
2. Your company is not yet set up for our FX product, reach out to your Relationship Manager.

Export FX Trades data

To export the data displayed on this page, follow these simple steps:

1. Navigate to the FX section using the left navigation bar.
2. At the top-right of the page, you’ll see an Export button.
3. Click the Export button to download the FX data as a .csv file, which can be used for reporting or record-keeping.
4. Open your downloads folder or open the file directly as seen on Fig 7

This will allow you to easily export and manage your FX Trades data.