How to Place an Exotic FX Order

The Exotic FX (EFX) Order feature in the Orbital Client Portal lets you sell exotic currencies and buy stablecoins. This helps international treasury operations by helping businesses manage their exposure to volatile exotic currencies. It offers a clear process for converting them into more stable digital assets.

Step 1: Initiate a New EFX Order

From the left-hand navigation menu in the Client Portal, select "Exotic FX". This will take you to the overview page, where you can see indicative rates and your order history.
On the Exotic FX page, click the EFX Order button in the top-right corner to start a new order.

Step 2: Select Your Sell Currency

On the Sell currency screen, choose the exotic currency you wish to sell (e.g., SGD, NGN, JPY, PHP, etc).
Click Continue to proceed.

Step 3: Enter Amount and Order Attributes

On the next screen, you'll provide the details of your order.

You Sell: The currency you selected in the previous step will be pre-filled. Enter the "Amount" you wish to sell.
Select the currency you want to buy: From the dropdown, choose the stablecoin you wish to receive (e.g., USDT, USDC).
Optionally, you can write a Remark for the transaction.
Account Type: Choose whether the order is for a "Personal Account" or "Corporate Account".*
Order Type: Select either "Day Order" or "Overnight Order".
- Day Order: This order is valid only for the current trading day. If it's not executed by the end of the day, it will expire.
- Overnight Order: This order remains active until the next trading day's close, allowing for execution over a longer period.
Execution date: Select the day you want this EFX Order to be executed.
Click "Continue" to proceed.

Step 4: Select a Beneficiary

On the Beneficiary screen, choose where the stablecoins will be sent.

Select a beneficiary account from either Orbital Accounts or External Beneficiaries.
Click Confirm Order to finalize your selection.

Step 5: Review the EFX Order Summary

After confirming, you will be taken to the EFX Order Summary page to review all the details before proceeding.

This summary provides a complete overview of your EFX order, including its Execution Date, current Status, and the Currency Pair involved (e.g., SGD.USDT).

The Order Information section details who created the order, the deposit currency, client details, and beneficiary details.

The Payment Details section outlines the financial specifics:

You Sell: The amount and currency you are selling.
You Buy: The amount and currency you are buying.
Deposit Account Type: The type of account used for the deposit.
Order Type: Whether it's a Day Order or Overnight Order.
Conversion Rate: The exchange rate applied to your order.

Orbital also provides webhook notifications to keep you informed about the status of your order.

If you want to proceed or cancel your order you can either Accept Order or Decline Order directly on this summary page.

Step 6: View Your Order History

You can view the status of your EFX orders on the main Exotic FX page. The table provides key details like Execution Date, Trade Reference, Beneficiary Name, and Deposit Status. You can also use the Filters option to easily search your past orders.

By following these steps, you can efficiently place and manage your Exotic FX orders within the Orbital Client Portal.