Introduction

This guide walks you through our efficient process for closing foreign exchange contracts using our FX API, covering every step from onboarding to the final conclusion of the contract with the banking partner. Our goal is to ensure your foreign exchange operations are conducted smoothly, transparently and in compliance with regulations.

1. Onboarding and API Access

The first step is to onboard with us. We'll work closely with you to ensure a smooth onboarding process and provide you with the necessary API access keys. The time required for onboarding can vary depending on various factors, such as the banking partner and the documents provided.

2. Quotation Consultation and Order Issuance

Once you have access to our API, you can easily check current quotes and issue orders according to your needs. We understand that you may have several merchants, and we group orders by merchant to form a foreign exchange contract.

3. Internal Finalization with the Banking Partner

We'll take care of finalizing the agreement with the banking partner and setting the final quotation. Once this is done, we generate the foreign exchange contract, which includes all orders. This contract must be recorded in the ACAM document.

4. Submission of ACAM for Compliance Analysis

To ensure compliance, we require you to send the ACAM for analysis within the established deadline. This deadline ranges from D0 to D+1 for the settlement of the foreign exchange contract. For contracts on D0, closing must occur by 12:00 PM.

5. Analysis and Conclusion of the Process

Our team will analyze the ACAM within 4 hours of receipt. If everything is in order, we'll finalize and settle the foreign exchange contract on D+1. In case of discrepancies, we'll work with you to submit a supplementary ACAM until settlement.

It's important to note that if the ACAM is incomplete, we'll only carry out the transaction with the values of the confirmed records, resulting in a partial contract.

We're committed to making cross-border transactions as easy and efficient as possible for our clients. If you have any questions or need assistance at any point in the process, our team is always here to help.