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INSTITUTIONS·FXP·FX FIRMS AND TRADING PLATFORMS

The rate you quoted your client is the rate that survives the payment leg.

Client settlement on local rails at a pre-agreed FX margin, so no intermediary re-prices your trade after execution. The dealing and hedging legs we carry are named in your terms before you rely on them.

WHO THIS IS FOR · SWITCH PROFILE
FXPFX firms and trading platformsREMRemittance firmsBNKBanks and deposit-taking institutionsCASPCrypto-Asset Service ProvidersPSPPSPs and fintechs
WHAT YOU GAIN · FXP
ILLUSTRATIVE · USD 1,000,000 CLIENT SETTLEMENT
CORRESPONDENT CHAINTwo intermediaries re-price the leg after execution
≈ 993,100
LOCAL RAIL SETTLEMENTOne local rail, margin fixed in terms
1,000,000
FixedFX margin per corridor band, set in terms, not re-quoted at instruction.
Same dayLocal settlement in GBP, EUR, USD, AED and CAD.
1 refYour reference travels through to the client statement.
Illustrative. Correspondent deductions vary by intermediary and are not disclosed in advance. Local rail settlement carries no intermediary deduction. FX at a pre-agreed FX margin recorded in your terms. Instructions are accepted 24/7 with no cut-off. Settlement follows the receiving rail's operating schedule.
FLOW OF FUNDS · FXP
AUTO CYCLING
AT CLIENT FUNDS IN

Your client funds arrive into the account structure held by the licensed entity that faces them. The account is opened in that entity's name, never a group affiliate without permissions.

GBP · EUR · USD · AED · CAD LOCAL RECEIPTS
OFF ROUTE

Funds received for a client of an unlicensed introducer are rejected at the instruction.

Illustrative. The route above is the one written into institutional terms for this profile. Instructions are accepted 24/7 with no cut-off. Settlement follows the receiving rail's operating schedule.

Five gates, and the one that decides a dealing platform.

DECIDED AT GATE 04
GATEWHAT WE ASK FORSTATUS
01 LICENCERegulator, permissions held, and whether they cover the flow you intend to run.CLEARED
02 JURISDICTIONWhere you are authorised, where your clients sit, and every market in the settlement chain.CLEARED
03 FUNDS MODELWhose money moves. Own funds, safeguarded or segregated client funds, or institution settlement.CLEARED
04 PERMITTED USEThe named flow types written into terms, enforced on the instruction.DECISIVE
05 COMMITTEEApproval by profile with conditions, limits, FX margin and a named specialist.TERMS SET
OUTCOME: APPROVED BY PROFILE · CLIENT DEALING AND HEDGING NAMED IN TERMS · LIMITS BY CORRIDOR
PERMITTED USE ENVELOPE

What this account may carry.

The envelope is commercial before it is regulatory. It tells you exactly which dealing flows you can build pricing on, and separates client business from anything that would make us a counterparty to your own position.

Client settlement of executed FXPERMITTED
Hedging legs named in your termsPERMITTED
Treasury rebalancing between your own accountsPERMITTED
Corridors outside the approved market listSEPARATE APPROVAL
Introducing brokers under your licenceSEPARATE APPROVAL
Own book speculationEXCLUDED
Retail margin or CFD productsEXCLUDED
Virtual asset settlementEXCLUDED

Who owns an exception, and what pricing is written.

MEMBERSHIP
Institutional

Bespoke by profile. Priced against corridors, volume bands and dealing limits.

FX
Pre-agreed margin

Set per corridor band in your terms. No re-quoting at instruction.

EXCEPTIONS
Named specialist

One person owns any hold, information request or reference chase end to end.

REVIEW
Annual, plus on change

Permission changes and new corridors are reviewed before they are used.

Institutional pricing is bespoke by profile. FX is executed at a pre-agreed FX margin recorded in your terms. Payment proof is an MT103 or rail reference depending on the rail used.

Name the dealing flows. We will price the settlement legs.

Send your licence scope, funds model and corridor list. A named specialist returns the permitted use envelope, limits and the FX margin in writing before anything is signed.

Request institutional reviewCompliance and pricing pack →
FXP QUESTIONS

Asked on the a dealing platform file.

LAST REVIEWED · 6 August 2026OWNER · Compliance
Is this a published retail membership for FX firms and trading platforms?No. This profile is admitted under Institutional Membership. Pricing is bespoke. FX is executed at a pre-agreed FX margin recorded in your terms.
Which gate decides this profile?Gate 04 is decisive for FX firms and trading platforms. Decisive gate. Client dealing flows and hedging legs are named in terms. Own book speculation is not carried.
What happens to flows outside the envelope?The envelope is commercial before it is regulatory. It tells you exactly which dealing flows you can build pricing on, and separates client business from anything that would make us a counterparty to your own position.
Is own-book speculation carried for FX platforms?No. Client dealing flows and hedging legs are named in terms. Own book speculation and proprietary position taking are excluded.
GBP · EUR · USD · AED · CAD · APPLICATIONS OPEN GLOBALLY, SUBJECT TO APPROVAL
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