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Fx - Bulk Currency Conversion

Client may convert the funds at bulk with the following schedules:

1. Real-time(Spot) conversion:​

  • The conversion happens in real-time and the existing market rate (in addition to the Fx margin) is used for the currency conversion
  • The capability can be accessed via API and Web:

a. API Solution - Convert funds by mentioning the sell and buy currency wallet numbers - API to be used - Create Book Fx by account

b. API Solution - Convert funds by mentioning just the sell and buy currencies: API to be used - Create Book Fx by currency

c. Web Solution - The client may use Currency Exchange section on the client portal to execute the exchange

2. Scheduled/Locked rate conversion:​

  • The conversion happens after a scheduled interval of time using the market rate (in addition to the Fx margin) locked at the time of request submission
  • The schedule for currency conversion may be chosen between 24 Hours and 48 hours
  • The client needs to maintain the required level of funding in the sell currency account prior to execution (and not submission) of the currency conversion instruction.
  • The capability can be accessed via API and Web:

a. API Solution - Convert funds by mentioning the sell and buy currency wallet numbers: API to be used - Create Book Fx by account. As part of the request parameters, the “book_fx_type” is to be mentioned as SCHEDULED 1 (for 24 hours execution) OR SCHEDULED 2 (for 48 hours execution)

b. API Solution - Convert funds by mentioning just the sell and buy currencies: API to be used - Create Book Fx by currency. As part of the request parameters, the “book_fx_type” is to be mentioned as SCHEDULED 1 (for 24 hours execution) OR SCHEDULED 2 (for 48 hours execution)

c. Web Solution - The client may use Currency Exchange section on the client portal to execute the exchange

Potential Flow​

  1. Client checks for the prevailing market Fx rate using Get Fx rates API
  2. Basis the Fx rate, the client decides to execute the currency conversion
  3. The client checks for the required liquidity in the sell currency account using Get Balance APIs
  4. The client sends a currency conversion request via the Create Book Fx APIs