Frequently Asked Questions

Which value dates are used in my trades?

We supports 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 client services to hear more about our credit/trading line and/or collateral setup. This workflow is supported for value today, tomorrow, and SPOT.

When can I trade?

FX trading is supported during our normal opening hours.

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 size for all currencies, after which our rates become indicative. The maximum size varies per currency - please contact client services for an up-to-date list. We are also opening to increasing these limits in case your flow exceeds our current 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.

Why do I receive a USD/GBP quote instead of GBP/USD, which was in my original request?

This is currently a system limitation on our side as we do not currently support inverse currency pair quotation. Although most of our currency pairs follow market conventions, for some currency pairs we must quote the pair in a specific direction to ensure accurate pricing.

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 tenor-based settlement in supported. Please contact our client services if you have a workflow where specifying the exact calendar date is required.