Product

Traded FX Pairs

Listed FX pairs are predefined in the system as all available permutations between currencies in which BlockSettle can offer settlement, currently EUR, GBP, PLN and CAD.

Pricing

Pricing represents the exchange rate between the base currency and the quote currency.

Price Discovery

Request for Quote (RFQ)

Negotiation Process

The negotiation process is initiated by the entry of a non-binding RFQ from a requester.

In response to an RFQ, any trading participant of the platform may submit, modify or cancel binding responsive quotes during a 30 second response period.

At the conclusion of the response period, the requester has a 30 second quote acceptance period during which time the responsive quote is firm.

Order Validation

Orders are validated against cash deposited with the service.

Settlement

Real-time book-entry settlement.

Dealing Eligibility

Open for Trading and Dealing Participants.

End of Day Pricing

00:00 UTC

Quote Schedule

RFQ Submission00:00.00
Responsive Quote Period00:00.01 – 00:30.00
Quote Acceptance Period00:30.01 – 01:00.00
SettlementImmediate book-entry settlement

Specifications

Currencies tradedEUR, GBP, PLN, CAD
Matching ModelRequest-for-Quote
Base CurrencyEUR, GBP, PLN
Quote CurrencyGBP, SEK, CAD
Lot Size0.01 unit of base currency
Minimum Lot size0.01
Order PriorityPrice - Time
Collateral RequirementsPre-funded cash balances
Trading Schedule24 / 7 / 365
Cash SettlementImmediate book-entry settlement
Settlement FinalityOnce book-entry settlement has occurred

Quote Schedule

RFQ Submission00:00.00
Responsive Quote Period00:00.01 – 00:30.00
Quote Acceptance Period00:30.01 – 01:00.00
SettlementImmediate book-entry settlement
Private Market