Supported Tenors

Banking Circle currently supports the following tenors for settlement: ON for value date today, TN for value date tomorrow, and SPOT for settlement at T+2 (or T+1 for some currency pairs).

Value date ON will typically settle immediately following a filled trade confirmation, unless you are utilizing a trading line or our collateral setup to defer settlement until you have sufficient funding on your account. In this case, the trade will settle immediately after sufficient funding arrives on your account.

Value date tomorrow and SPOT will settle as the value date arrives, provided you have sufficient funding on your account. Otherwise, the settlement will take place during the day when your account is credited with enough balance to cover the sold amount.

During bank holidays in either currency, the value dates will move forward accordingly. For example, trading EURDKK with value date SPOT on the Wednesday preceding Easter will settle on the following Wednesday, due to DKK bank holidays on Thursday, Friday, and Monday.