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 Submission | 00:00.00 |
| Responsive Quote Period | 00:00.01 – 00:30.00 |
| Quote Acceptance Period | 00:30.01 – 01:00.00 |
| Settlement | Immediate book-entry settlement |
Specifications
| Currencies traded | EUR, GBP, PLN, CAD |
| Matching Model | Request-for-Quote |
| Base Currency | EUR, GBP, PLN |
| Quote Currency | GBP, SEK, CAD |
| Lot Size | 0.01 unit of base currency |
| Minimum Lot size | 0.01 |
| Order Priority | Price - Time |
| Collateral Requirements | Pre-funded cash balances |
| Trading Schedule | 24 / 7 / 365 |
| Cash Settlement | Immediate book-entry settlement |
| Settlement Finality | Once book-entry settlement has occurred |
Quote Schedule
| RFQ Submission | 00:00.00 |
| Responsive Quote Period | 00:00.01 – 00:30.00 |
| Quote Acceptance Period | 00:30.01 – 01:00.00 |
| Settlement | Immediate book-entry settlement |