Yes, the Customer can add multiple Relationship Banks by using the Add Bank option. The Customer needs to fill only the Relationship Banks details such as Bank name, Home Branch, Account details etc. All other details of the Customer along with the Bank details are forwarded to the added Relationship Bank for approval.
Yes, Presently, videos are available on the FX-Retail Platform Login Page on important features such as Introduction, Registration, Login/Trading screen introduction and Order Placement/contract booking.
By default, the Relationship Bank with which the Customer does the first time Registration for the platform is displayed first in the list and the rest of the Banks in alphabetical order. However, the Customer in case wishes to change the default Relationship Bank can do by using the “My preferences” option available in “My profile”.
Yes, the Customer has to select any one Relationship Bank at the time of any order activity like placing and hitting order. However, Customer can change the default relationship bank from My Preferences.
Yes such Customers can also register and trade in the system based on the approval by their Relationship bank.
Currently, LEI is not mandatory for Customer at the time of registration. For more details on LEI please refer LEI website.
Yes, the Customer can set default order value in the Customer profile screen under my preferences and input order value in USD.
There are no transaction charges levied for transactions totaling less than USD 50,000 in a day. Also, no transaction charges for the first year of joining by customer. After one year, following transaction charges would be levied:
Transaction Charges Monthly Turnover Charges ( Table Refer link and question no 8 for the same)(applicable ontotal INR value) a. Turnover < USD 200 million 0.0004% b. Turnover >= USD 200 million & <USD 350 million 0.0003% c. Turnover >= USD 350 million & <USD 500 million 0.0002% d. Turnover >= USD 500 million NIL
Yes. A Corporate who is provided with user management rights/sub menu in Main Menu can add additional users and assign dealing rights to such users.
Some of benefits for the customers on this platform: i. Customers can buy/sell USD Dollar at best exchange rate. ii. Customer can directly deal on the platform and have access to current market rates, thus moving from telephone based trading to electronic trading. iii. The platform would provide for transparency and better pricing to the Customers iv. Customer would get a dealing platform which would facilitate automatic price discovery in addition to other qualitative benefits. v. 2 step authentication (password and OTP) for Security. vi. Access to Inter-bank Spot rates. vii. Facility to add multiple relationship banks. viii. Set dealing preferences. ix. Comparative view of prices and mark up. x. Availability of Inter-bank market if order size is USD half million or more. xi. SMS notification for each trade.
Customers can book forex contracts in CASH, TOM, SPOT and FORWARD. FORWARD contracts are available to book for any settlement date or option period (upto a period of 13 months) based on the limits assigned by the Relationship Bank.
CASH: Settlement (debit/credit to account) happens on the same day TOM: Settlement (debit/credit to account) happens on the next day SPOT: Settlement (debit/credit to account) happens on Trade date +2 business day FORWARD: Settlement (debit/credit to account) happens on any future settlement date beyond Spot date, selected at the time of trade.
Note: In case of Option period Forward booking, the period should not exceed a period of 30days)
Yes, Customer can select / enable pre- order confirmation (popup alert) in the Customer profile screen under my preferences by selecting as “Yes” for pre – order confirmation
Limit price: is the maximum Price in INR which the Customer is willing to pay for buying the USD and receive for selling the USD.
DAY: User can select this Time Type to specify that the order can exist in the system for the current trading day until matched. If not matched during the day, it will be cancelled by the system at the end of the session.
IOC (Immediate or Cancel): Dealer can select this Time Type to specify that the order should be traded immediately or it should be cancelled. This is the default time type while hitting orders.
GTT (Good till Time): Dealer selects this time type when the order placed needs to be valid only up to the specified time. The time until which the order needs to remain in the systemhas to be provided in the GTT time field. The default time considered is one minute ahead of the FX-CLEAR server time.
Yes. The Customer has the facility to cancel or modify the order placed by him till the time the order is pending or not executed.
Holiday View details are available to user to view future calendar which specify the Trading and Settlement holidays. Further, in case the user selects a date which is a holiday, the systemwould also provide an alert.
A System Amended Trade Report is available in General Reports. Whenever Holidays are declared for the Date for which contract is booked, System will amend the settlement date of such trade/s and the details will be available in System Amended Trade Report.
Yes. The Customer can request the relationship bank to place orders on his/her behalf.
The Customer cannot cancel the trades on the platform. However, the pending orders can be cancelled/ modified until the closure of the market session.
The trades executed by the Customer on the FX-Retail platform would need to be settled bilaterally with his Relationship Banks per the existing process.
The Customer can remove a Relationship bank by selecting the withdraw bank option available under Bank relationships subject to approval of the withdrawal by the Relationship Bank.
The minimum single order size that can be placed/traded on the FX-Retail Platform is USD 0.01 (i.e. 1 cent).
The maximum order size for a single order is USD 5,000,000 on the platform. However user can place multiple orders of USD 5,000,000, provided limit is made available by the Relationship Bank.
The Customer will receive a SMS on the registered mobile number for every trade. Also the same will be available in the Trade window on Home page on the business date. Further at the end of the day, a consolidated Trades Report is also sent to the Customer on the registered email id.
All outstanding trades will be available in the Outstanding Trades window on the home page. The user can see the details of all pending trades till the settlement/maturity date is reached.The same details are also available in General Reports -. Trades To be settled Report.
Yes, the customer can book Forward contracts for any standard Forward tenor (start of month, middle of month and end of month) and for any Broken date as per his requirement provided the bank has set the limits and swap points are available (either set by bank or swap points arrived by interpolation) for the period, up to 13 months.
Yes, Customer can do Option period Forward booking for a period not exceeding a period of 30 days on the platform. The customer can select Option period from the Instrument drop down and then select the From and To settlement dates from the calendars in the order form.
Yes. Top 5 Bids and Top 5 Offers details are available for user in Market Depth Tab for Retail Spot. Market depth of bid and offer of Inter-Bank market is also available to the user for reference on the Platform.
All the orders placed in Cash, Tom and Forward instruments on the FX-Retail platform are translated into Spot orders for matching, by applying the Swap points provided by the respective relationship bank. Accordingly, the Spot prices so arrived along with the appliedswap points are made available to the user in the order form.
Yes. Market watch or Instrument window is customizable. User can add/remove instrument from the Market watch as per his/her preference.
The Interbank Spot (IB. Spot) rates are available real time on the FX-Retail platform for view purpose. In case, a particular customer’s order is equal to or more than the Interbank lot size i.e. USD 5,00,000, then such orders would be tried for matching in the Interbank market.Similarly, in case multiple orders placed by customers at the same price, aggregates to USD 5,00,000 or more, such orders would be tried for matching with the Interbank prices. This has been the customer’s orders at the same price.
In the Market watch, reset button provided in top right corner can be used to restore or reset (⭯) the market watch.
In the Market watch, there is an option to „Add‟ and „Delete‟ below reset button where user can add or delete any settlement/broken date instrument to view the live bid offer prices in the market watch.
User needs to click on the compare button next to the instrument in the market watch to populate the price in the Outright Comparison window for comparative view of the prices offered by different Relationship banks. Clicking on the buy or sell price will populate the details in the Order at the Price (order form). The User needs to verify the same and then can go ahead to place the order.
Yes. The User need to select the Forward contract done at an earlier date from Outstanding Trades screen and then click on „CANCEL CONTRACT‟ button, which will place a reverse order in the market. Once the order gets executed; the forward contract would stand cancelled. Further the user can see the cancelled contract details in Trades Tab.
The customer need to select the Forward contract done from the Outstanding Trades screen and then click on „Rollover‟ option, which will open the order entry form. The user needs to then select the desired future settlement date. The rollover would be allowed provided the Swap Point for the date selected is provided by the Relationship Bank.
The Customer need to select the Forward contract done from the Outstanding Trades screen and then click on „Early Delivery‟ option, which will open order entry form. The user can then select the desired settlement date. The Early delivery would be allowed provided theswap point for the date selected is provided by the Relationship bank.
Yes, the Forward Contracts can be cancelled/rolled over/early delivered till the maturity date of the trade.
Yes, the customer can do either full or partial cancellation/rollover/early delivery of the Forward Contract. Once the contract is selected then while submitting the order for execution; user need to change the quantity which needs to be cancelled.
Yes, Net Price would be the final trade price after adjusting the mark up set for the customer
In case, it is Both legs, this means that the bank mark-up shall be applicable on both the legs (cancellation as well as Rebooked leg) in case of Rollover and Early delivered trades. In case it is Rebooking leg only, the mark up shall be applicable only on the Rebooked leg of the Rollover and Early delivered trades.
Trading limits are assigned by the respective Relationship banks to their Customers to allow Customer to book Forex Contracts in the USD/INR currency pair on the Platform
The Customer can view the real time limit position through the limits query screen which is available on the right hand bottom corner of the screen. This screen provides details like Original allocation, Utilised limit, Un-utilised limit, Exposure etc on a real time basis.
Trading limits assignment process varies from bank to bank. However , the customer can check if limit has been assigned by the Bank from the Limit Tab (bottom right corner). In case limits have not been set by the bank, the customer can place an online request to the Bank using the "New Limit Request‟ option.
Limit Split-up Report provides the trade by trade limit utilisation of the trades concluded on platform.
Yes. The Customer can request for change of limit online through the “Change request” option provided in the Limit query screen. This request would be forwarded to the respective Relationship bank for approval.
1. Instrument Bank can either set a single limit for All Instrument or each Instrument type wise limits i.e. separate limits for Cash, Tom, Spot and Forward or Upto Spot and Forward or for All instruments together. 2. Type of Limits a. Gross Buy Limit: Gross Buy limit will allow the Customer to place/trade only buy side b. Gross Sell Limit: Gross Sell limit will allow the Customer to place/trade only Sell sell. c. Global Gross Limit: Global Gross limit will allow the Customer to place/trade both Buy and Sell side. d. Net Limit: The Net order quantity placed by the Customer should not exceed the Net limit set at any point of time. 3. Limit Currency a. USD b. INR 4. Re-instatement Type The Bank can enable Re-instatement method for limit to be assigned to their customer by either of the 2 options, either Daily or Settled Trade basis a. Daily - Limit shall be automatically reset to original limit value on next working day. b. Settled basis - Limit would be reinstated automatically by the system on a settled basis, i.e. the limit utilised for a particular trade would be reinstated on the EOD of the day on which the trade is ought to be settled. 5. Limit on Tenors The Bank can enable set in Maximum Tenor or Maximum value date for trading in Forward instruments. a. Maximum Tenor – In case bank has set the Maximum tenor as 3 months/90 days, Customer shall only be able to book Forward contracts for period upto 3 months at any point till the limit is effective. b. Maximum Value Date - In case bank has set the Maximum value date as 31-March2022, Customer shall be allowed to book Forward contracts by selecting a settlement which is on or before 31-March-2022.
The duration of the limits will be decided by the respective Relationship bank for any period ranging from 1 day to 5 years (1825 days)
Customer will not be able to place order after the expiry of Limit. The bank needs to assign fresh limit for the Customer. The Customer can also raise „New Limit Request‟ from platform or call their Relationship Manager to request for providing limit on Platform
Navigation for New limit request: Menu -> Bank Relationships -> Trading Limit Request OR Home Page -> Limit Window (bottom Right) -> Select Relationship bank -> New Limit Request
The Customer need to click on Mark-Up tab on the home screen to see the Mark-Up (margin) set by different Relationship banks which could be in paise or percentage as set by their Relationship bank. Mark-Up will also be provided in Deal ticket once trade is executed
This situation can arise in the following scenarios 1. Limits exhausted/expired 2. Swap points not set by Bank for Cash/Spot and Tom/Spot. Customer will not be able to trade in Cash and Tom instruments. 3. Mark -up is not set by the Bank for the Customer In the above cases, the Customer needs to contact the respective Relationship bank/s for the needful.
*** FX-Retail Support *** Write to us on supportfxretail@ccilindia.co.in OR Call us on 18002662109 (Toll Free) / 022- 61546313