Page Comparison

This article will describe how to make a currency exchange in the back office interface. To be able to make an exchange order, there must be an Execution Interface for Currency Exchange.

In this example, the customer has an account in the Swedish currency SEK and would like to make a currency exchange into USD.

1. Create Currency Exchange order

2. Create Batch orders

3. Send Batch order

4. Execute and Fill

5. Reset Batch order

1. Create Currency Exchange order

In the action menu at the account click

on Currency Exhange

 to create a currency exchange order.

Image Added

A pop up ticket will appear where we are able to select which currency we want to exchange

. 

From Currency: The currency that is present in the account and that should be sold.
To Currency: What currency the customer would like to buy.

After the currency has been selected additional fields will appear. 

Image Added

Execution Interface (EI): Execution Interface of the type currency exchange will be available in the dropdown menu.

The execution interface is the trade route.
The selected Execution Interface will

default to the

default EI that is set for the currency.

In systems data

 we need to set a default execution interface (trade route) for each currency that should be tradeable in the system.

Direction:

currency will be exchanged to a specfic amount To Currency.
Image Modified	Image Modified

In this example, we will place an order to exchange 1,000 SEK to USD. An order

has been placed

and an order reservation is created. The next step is to

create batch orders.

Image Added

2.

 Create batch orders

The back office handles orders by creating a batch order from all the currency exchange orders that

have been placed during, for example, one day.

Go to the

menu Orders > Exchanges 

Image Added

There is always possible to cancel the order. Click on the action menu and choose Cancel Order.

Image Modified

Click the action menu

to Create Batch Orders.

Image Added

A pop-up ticket will appear (Create Batch Orders). In the dropdown menu are all

execution interfaces that have the type currency exchange. If we confirm without choosing anything in the dropdown menu,

 batch orders will be created for ALL execution interfaces (trade routes). When choosing a specific execution interface, batch orders will be created that

has the specific EI. 

Batch orders are created from the following

three criteria:

• Execution interface

• Currency pair

• Direction (Buy or Sell)  

Confirm by clicking

the Confirm

 button

Image Modified

Image Modified

The order has now

been processed

 and a batch order

has been created. The next step is to send the batch order.  

Image Added

3.

 Send Batch order

Go to the

tab Batch Orders (

Orders > Exchanges) 

Image Added

We can

either send

 one batch order or select several. Within the back office interface, there is always the possibility to cancel the batch and client orders or just the batch. 

Image Modified

Image Modified

There is also a filter option

called Order Route where the back office administrators have

the possibility to filter on order route, which means that they can

find orders based on order routes and manage them as a group.. 

Image Added

When clicking

send a pop-up ticket will appear.

Click Confirm

 to Send the order. 

Image Modified

The next step of the process is to conduct the actual trade. This is made manually outside BFS or through an automated connection to a broker or marketplace.

Once the trade is filled we can proceed with entering the execution into BFS.

4.

 Execute and Fill 

Go to the tab Batch Orders (

Orders > Exchanges) 

Click

on the action menu

to Execute

 the order. 

Image Modified

A pop up ticket will appear. Trade date

 is set to the execution date according to the received fill details.

Enter

the amount

 in the field, To Amount (Sell)

 or From Amount (Buy), depending on the order route. 

Account information

 is collected from the execution interface. There is a

possibility to change the information by clicking on

the Choose

 button. 

When clicking Confirm

 transactions will be created on all

relevant accounts. 

Image Modified Image Modified

The batch order is Executed and can be settled

Image Added

Go to the tab Batch Orders (

Orders > Exchanges) 

Click the action menu

to Settle

 the order. 

Image Added

A pop up ticket will appear. When settling a currency exchange we use both settlement date and value date.

Image Modified 
 

 It is possible to set different dates at the settlement date and value date. ClickImage Modified (plus sign) to expand the ticket to enter different dates for the currencies. Click

 Confirm to settle the order. When we have chosen to confirm transactions will be created in the settlement dimension. 

Image Added

If we choose to select more than one batch order to settle, by clicking the action menu and

click Settle Selected, we will not be able to choose different dates,

 because the batches might not have the same currency pairs. Click

 Confirm to settle the orders. 

Image Modified     Image Modified

It is not possible to settle several batch orders that don't share the same status.. A pop up message will appear. 

Image Modified

The currency exchange is finished when settlement is made and it´s now possible to buy instruments in another currency. 

5.

 Reset batch order

There is a possibility to reset the batch order and correct transactions, for example, if we selected an incorrect date or exchange rate when executing the order. 

In the action menu

choose Correct Transactions. 

Image Added

A pop up ticket will appear. Click

 Confirm to correct the transactions. 

Image Modified

The batch order will get

status Review (marked red) and it´s possible to choose the alternatives: Reset, Cancel Batch and Client Orders

 or Cancel Batch. 

Image Added

Click the action menu to choose an appropriate alternative. 

Image Modified

When

choosing Reset

 the order will get

status Created

 and we can process it again. 

Cancel Batch and Client orders: Cancels both the batch orders and the indivudual orders. 

Cancel Batch: The batch order is

canceled but the individual/client

orders will still remain.