OTC Process Guide
A step-by-step walkthrough of the RFQ-to-settlement flow — expanded with typical timelines and what to have ready before submitting a first RFQ. Written for new counterparties evaluating onboarding.
Complete KYB onboarding
New counterparties are verified through KeyBS Trust Intelligence before a first trade. Have your incorporation documents, UBO register and settlement account details ready — onboarding is a one-time step.
Submit your RFQ
Specify the currency pair, notional amount and preferred settlement window. RFQs are picked up live 24/7 across the four desk hubs.
Receive a locked quote
A dealer responds with a firm rate, typically within minutes. The quote states the rate, the settlement window for your corridor, and the funding options.
Accept & fund
Accept the quote and fund via KeyBS wallet, bank transfer on an approved rail, or stablecoin transfer. The rate stays locked as quoted.
Settlement & confirmation
Funds settle to the receiving account same-day to T+1 depending on corridor and rail. A compliance-ready trade confirmation is issued automatically.
Before-you-start FAQs
What should I have ready before my first RFQ?
Completed KYB onboarding, the exact currency pair and amount, your preferred settlement window, and confirmed receiving account details. If funding by bank rail, know your bank’s wire cut-off times.
How long does onboarding take?
It depends on how quickly documentation is provided and verified. Straightforward corporate structures verify fastest; complex ownership chains or higher-risk profiles take longer because UBO and sanctions checks are completed before any trade.
Can I trade in tranches?
Yes — multi-tranche settlements are supported. Each tranche carries the parent trade reference plus a tranche suffix for clean reconciliation.
What if I miss the corridor cut-off?
The trade settles in the next window (typically T+1). Your dealer states the applicable window on the quote before you accept.
Ready to submit your first RFQ?
Request a Quote