OTC FAQs

Trading Hours & Availability

1. Can I get a quote outside of market hours?

The trading desk operates during standard market hours. Contact your Relationship Manager to confirm specific availability for your currency pairs and time zones.

1. Which currencies are available for OTC trading?

We support major fiat currencies (USD, EUR, GBP), emerging market currencies, and leading cryptocurrencies. Contact the trading desk to confirm availability for specific currency pairs.

1. Is the trading desk available on weekends? Trading desk availability varies by currency and market. Cryptocurrency markets operate 24/7, but fiat currency trading follows standard banking hours. Contact your Relationship Manager for specific weekend availability.

Trade Execution

1. What's the minimum trade size? Trade size minimums vary by currency pair. Discuss your requirements with the trading desk to confirm if your intended trade size is supported.
2. What's the maximum trade size? There is no strict maximum. OTC trading is particularly suited for large block transactions. Contact the trading desk to discuss larger trades, which may require special handling.
3. Can I cancel a trade after accepting a quote? Once you accept a quote, the trade is binding. If you need to make changes, contact the trading desk immediately to discuss options. However, cancellation after acceptance is generally not possible.
4. What if the market moves after I accept a quote? Your accepted quote is guaranteed. Market movements after acceptance don't affect your agreed rate. The rate you accept is the rate you receive.
5. Can I execute multiple trades simultaneously? Yes, the trading desk can handle multiple quote requests. Specify each trade clearly to avoid confusion, including distinct currency pairs, amounts, and settlement instructions.
6. How quickly do I need to respond to a live quote? Live quotes are time-sensitive and typically valid for a short period (seconds to minutes). The trading desk will specify the validity period when providing your quote. Respond promptly to secure the quoted rate.

Pricing & Rates

1. What's the difference between live quotes and daily rates? Live quotes are real-time, executable prices that are binding once accepted. Daily rates are indicative reference rates for planning purposes only and must be confirmed with a live quote before execution.
2. Can I negotiate the exchange rate? Our trading desk provides competitive market rates. While rates reflect current market conditions, you can discuss your requirements with the trading desk, particularly for larger trades.
3. Are there any fees for OTC trading? Pricing is typically built into the exchange rate spread. Contact your Relationship Manager for detailed information about costs and any applicable fees.
4. How do OTC rates compare to platform rates? OTC rates are competitively priced and often more favorable for larger trades due to direct access to liquidity. The trading desk can explain pricing for your specific requirements.

Settlement & Tracking

1. How do I track my trade settlement? You'll receive a trade confirmation immediately after execution and settlement confirmation once processing is complete. For status updates, contact the Settlements team or your Relationship Manager.
2. Can I expedite settlement? Settlement speed depends on the currency networks and banking systems involved. Discuss any urgent settlement requirements with the trading desk when requesting your quote.
3. What information do I receive after settlement? You'll receive settlement confirmation with transaction details, updated account statements or balances, and any required documentation for your records.
4. What if settlement is delayed? If settlement takes longer than expected, the Settlements team will proactively communicate with you. You can also contact your Relationship Manager for status updates.

Account & Access

1. How do I set up OTC trading access? Contact your Relationship Manager to discuss your OTC trading requirements and establish communication channels with the trading desk.
2. Can I authorize others to request quotes on my behalf? Yes, you can designate authorized representatives. Discuss authorization procedures with your Relationship Manager to ensure proper setup.
3. Do I need a separate account for OTC trading? OTC trading uses your existing Orbital account structure. Discuss settlement account requirements with your Relationship Manager based on the currencies you plan to trade.

Compliance & Documentation

1. What documentation do I need to provide? Documentation requirements vary by trade size and currency. Your Relationship Manager will advise on any specific requirements. Standard KYC and account verification must be completed before OTC trading.
2. Are there any trade limits or restrictions? Trade limits depend on your account status, currency pair, and compliance requirements. Contact your Relationship Manager to understand any applicable limits.
3. How are OTC trades reported for compliance? All OTC trades are fully documented and reported according to regulatory requirements. You'll receive complete transaction records for your compliance and accounting needs.