Negotiation Mode – FX-CLEAR
The Negotiation mode facilitates the dealer to chat with other members’ dealers for the purpose of arriving at a negotiated deal in the forex market. The Deals negotiated will be captured as confirmed trades once acknowledged by both the parties. In addition to the USD-INR currency pair, the dealer can use this mode for trading in other majorly traded currency pairs like EUR-USD, EUR-INR, USD-JPY etc. However, STP facility would not be available for these trades and hence need to be reported manually to the Clearing Corporation for settlement.