The OTC Trading Process
All OTC trades are executed manually by our trading desk during market hours. This ensures personalized service and competitive pricing for your currency exchanges.
1. Request a Quote
Contact the Orbital trading desk through your preferred communication channel:
- Reach out to your dedicated Relationship Manager
- Contact our trading desk directly during market hours
- Use your established customer communication channel
Information to Provide
When requesting a quote, share the following details:
- Currency pair: Specify both currencies (e.g., USD/EUR, GBP/USDT, NGN/USD)
- Trade amount: The quantity you wish to trade and which currency it's denominated in
- Direction: Whether you're buying or selling
- Settlement requirements: Any specific instructions or timing needs (optional)
Example Quote Request "I'd like a quote to sell 50,000 USD for EUR, settling to our standard EUR account."
2. Receive and Accept a Quote
The trading desk will provides a live quote or shares the applicable daily rate.
Understanding the difference helps you plan your trading strategy:
| Feature | Live Quotes | Daily Rates |
|---|---|---|
| Purpose | Executable pricing | Reference pricing |
| Validity | Short-term (seconds to minutes) | Indicative only |
| Binding | Yes, once accepted | No, must request live quote |
| When to Use | Ready to trade now | Planning or budgeting |
| Reflects | Real-time market conditions | General daily market levels |
Reviewing Your Quote
Before accepting, verify:
- Currency pair and direction are correct
- Amounts match your requirements
- Exchange rate is within your expectations
- Settlement instructions are accurate
- You understand the quote validity period
Once you're satisfied with the terms, confirm your acceptance with the trading desk. Your verbal or written confirmation constitutes a binding agreement to execute the trade at the quoted rate.
Quotes are time-sensitive. If you need time to review or get internal approval, ask the trading desk about the quote's validity period.
3. Settlement
After you accept the quote, you'll receive immediate confirmation that your trade has been executed, including all trade details and settlement instructions.
Our Settlements team manually processes your transaction, ensuring:
- Accurate reconciliation of funds
- Compliance with all regulatory requirements
- Proper allocation according to your instructions
- Complete audit trail and documentation
Your trading desk representative will provide specific settlement timing when you accept your quote.
Have questions?
Check our OTC Trading FAQs for answers to common questions about trading hours, trade sizes, cancellations, and settlement tracking.
OR
Contact your Orbital Relationship Manager or trading desk during market hours for support with your OTC trades.
Updated about 19 hours ago