In this example, we will use an instrument traded in USD.
Click on the Sell button to sell the position in an instrument.
Select Autogiro as Settlement Account. The customer's external account of the type autogiro will be prefilled in the bank account. When selling a position there is only possible to select the periodicity one-time payment. Click Confirm when entered all the information.
First, will a sell order be placed and when the money is available on the account the exchange order will be activated. When the exchange order is done the autogiro withdrawal order will be activated. The autogiro order and the exchange order has the status Pending Financing.
The placed sell order will be handled according to its order route (execution interface).
When the sell order is finished the exchange order will be placed. The cash from the sale is reserved for the exchange order and there is no longer a position on the account.
The exchange order is handled according to its order flow (execution interface).
The autogiro order will be placed when the exchange order is done (settled). The cash from the exchange order is reserved to the autogiro order.
Navigate to Order Management > Autogiro to handle the autogiro withdrawal order.
The autogiro order will be exported in a file to BGC (read more here) and will get order status Sent (Active). When BGC has handled the order the back office administrators will receive a file to import to Bricknode Broker and the order will get status order status finished.
On the customer overview, we can see that there is a sell, currency exchange, and an autogiro withdrawal transaction. The money from the sale is now transferred via autogiro to the customer's bank account.