Frequently Asked Questions

Which value dates are used in my trades?

We support value today, tomorrow, or SPOT. You can specify this using the tenor field in your request.

My funds are arriving at a later time, but I know my risk exposure already now. Can I lock in the exchange rate now without having the funds in place?

Yes. Please contact your account manager regarding FX trading line and/or collateral setup. This workflow is supported for value today, tomorrow, and SPOT.

When can I trade?

FX bookings are available 24 hours a day, 5 days a week, via the Client Portal and API with market opening at 8:00 AM Monday Sydney time to 5:00 PM Friday New York time. You are also able to book FX trades during the End of Day Reporting period, however the confirmation for the trade will only be enabled after EOD has completed.

Which currencies can I trade?

We support the following currencies for all workflows. You can combine these in any way you like. For example, you can trade DKK/SEK as well as ZAR/PLN.

Do you have any FX cutoffs?

BC Connect FX is not affected by payment cutoffs. Multicurrency payments will not be processed if you are past the payments cutoff.

Are there any limitations for amounts?

Yes. We have maximum single transaction limit for all currencies. The maximum size varies per currency. We are also open to increasing these limits in case your flow exceeds our current limits. Trading limits

How can I retrieve an indicative quote or a not available quote in Sandbox?

In Sandbox, any amount higher than 1.5 million will result in an indicative quote for testing purposes. Any amount higher than 5 million will result in a not available quote. Note: In production, you will receive a 'not available' response only when we cannot price your request at all, whereas indicative quotes are shown when you breach the currency-pair based amount limit. Please reach out to our client services for the exact limits, or for increasing the limits if your workflow requires higher limits.

Can I retrieve my rejected transactions via the FX Transactions endpoint?

Rejected trades are not booked on our side, so retrieving such transactions is not supported.

Can I hook up my dev/test environment into your systems?

You are more than welcome to use our Sandbox environment to verify your workflows. The sandbox is a mocked environment, but works the same way as the real production environment. If you have any suggestions on how we can improve the sandbox experience, please reach out to our client services.

Can I use the reports APIs to reconcile my transactions in combination with the FX APIs?

Yes. The account reconciliation API contains FX transactions. You can match using the bankingCircleRef field of a confirmed trade with the PaymentDetails3 field of the reconciliation report. Note: this feature is not available in the sandbox environment.

When should I provide the customerId in the request-for-quote (RFQ) or market order workflow?

If you will be setup with more than one company within BC Connect (for example, if you have subsidiaries or multiple legal entities), you must provide the customer id of the specific company in each request so we can resolve the correct bank accounts for trade settlement. Otherwise, it is not needed. Our client services team will advise you accordingly.

I have multiple accounts for the same currency. Can I specify which account will be used in the FX trade settlement?

Yes. Simply provide the optional fields buyAccount and sellAccount in your FX order. You can input any of the following: IBAN, account number, or technical account identifier (GUID).

Do you support specifying the exact value date for FX trades?

Currently, only Today, Tom and Spot settlement is supported. Please contact your account manager if you have a workflow where specifying the exact calendar date is required.

What is the maximum Held Rate supported?

Up to 24 hours.