FX Settlement Flows

FX Trades are agreements between two parties to exchange different currencies as agreed rates, for example buying GBP using USD. Trades of this type need to be settled to the customers accounts. In some instances the accounts are held with us (we are the custodians of these accounts). If we are the custodian of the account no physical monies need to be transfered as we will simply debit/credit the customers accounts. If, however, one or more of the accounts are not stored with us then we will need to move monies across the customer's nostro accounts through the physical transfer of monies.

Detailed specifications: