How is a trade settled?

As we operate in the OTC market, we need to settle a net open position (NOP) directly with our trading partners. It might be a blockchain transaction or a bank wire.

Normally, we exchange the standard settlement instructions (SSIs) prior to trading, as adding a new blockchain address usually takes up to 48 hours due to white-listing procedure.

We usually require our trading partners to deliver or pay first. Alternatively, we can DVP settle via one of our custodian partners.

Please ensure that your sending and receiving addresses are the same. This is a mandatory requirement.

What is the net open position?

NOP per asset is calculated as the sum of all purchases and sales of a particular asset (e.g., you have bought 10 BTC/EUR for 10 000 and sold 6 BTC/EUR for 10 000; your NOPs are now +4 BTC and -40 000 EUR).

What are the settlement options?

  • Fiat currencies:

    • EUR (SEPA, Instant SEPA)

    • GBP (incl. Fast Payments)

    • USD (FedWire, SWIFT)

  • Digital assets:

    • a blockchain transaction

Can you handle Fiat on/off ramps?

Yes, our main focus is EUR liquidity, namely BTC/EUR.

Do you support payments to third parties?

We only send a fiat currency to the bank account in your name and a digital asset to your wallet.

However, we are ready to discuss your particular case and find a suitable solution.

Do you use cold wallets? Are there security certificates?

FinchTrade uses Copper as a custodian. All addresses are white-listed.

Last updated