Our FX trade offering allows you to buy and sell currency in real-time – you submit a trade order to ClearBank, we perform the required validation checks on your order and upon successful validation, execute it in the foreign exchange market against live market rates.

You can use our FX trade functionality to perform FX trades between accounts which belong to the same owner. For example, let’s assume that you want to sell GBP from Account A to purchase EUR for Account B – in doing so, you will need to ensure that the owner of both accounts is the same. This applies to two accounts that belong to you, that is, the financial institution or your customers.

When initiating a FX trade order via our API, you can either specify the amount of the currency you wish to buy or the amount you wish to sell. The specified amount (and currency) is referred to as the fixed side of the trade. Whereas the amount (and currency) that has not been specified is referred to as the floating side of the trade.

Additionally, you can also specify your margin (%) to be applied to the trade. The margin amount is automatically calculated, applied to the credit/debit Transaction amount of the buy and sell accounts, and credited to a separate account of your choice. The margin is always reflected in the calculation of the credit/debit transaction of the floating currency.

Trade Request:

InstructedAmount: 1000
FixedSide: Sell
BuyCurrency: USD
SellCurrency: GBP (This means the fixed side of the trade is GBP and the floating side is USD. Therefore, the margin will be in USD).
Margin: 0.01 (Where 0.01 represents a 1% margin)
Assume the ClearBank rate is: 1.40 for GBP/USD
Margin amount: 1.4 x 0.01 x GBP 1000 = USD 14

Resulting transactions in respective accounts:

Debit to the sellAccount: GBP 1000.00
Credit to the buyAccount: USD 1386 [USD 1.4 x (1-0.01) x 1000]
Credit to the specified margin account: USD 14

Trade Request:

InstructedAmount: 1400
FixedSide: Buy
BuyCurrency: USD
SellCurrency: GBP
This means the fixed side of the trade is USD and the floating side is GBP, therefore the margin will be in GBP
Margin: 0.01 (Where 0.01 represents a 1% margin)
Assume the ClearBank rate is: 1.40 for GBP/USD
Margin amount: 1400 / 1.4 x 0.01 = GBP 10

Resulting transactions in respective accounts:

Debit to the sellAccount: GBP [1110 (1400 / 1.4 x (1 + 0.01)]
Credit to the buyAccount: USD 1400
Credit to the specified margin account: GBP 10

FX trades are subject to cut-off times:

If a trade is booked in time for same-day settlement, you will receive a webhook notification of the settlement. If it fails to settle (in practice, because there are insufficient funds in the account), you will learn of the failure immediately. ClearBank will then send a fx-trade-cancelled-v1 webhook.
If a trade is booked, but cannot be settled until a later day, and the settlement fails, the fx-trade-settlement-failed-v1 webhook notifies you of the failure. Make sure you subscribe to this webhook if you are making FX trades with a value (settlement) date later than the day of booking.
For more information about cut-off times, please speak to your Relationship Manager.

Create a Foreign Exchange (FX) buy and sell order

post/fx/v1/order

This endpoint is used to create a Foreign Exchange (FX) trade with the buy or sell amount specified.

Parameters

Request Payload (application/json)

customerInformation object, Required
Account information of the customer for whom the FX trade is being created.
tradeInformation object, Required
Trade infomation of the customer for whom the FX trade is being created.

request

{
  "customerInformation": {
    "sellAccount": {
      "owner": "string",
      "iban": "string"
    },
    "buyAccount": {
      "owner": "string",
      "iban": "string"
    },
    "attestation": "string"
  },
  "tradeInformation": {
    "valueDate": "2019-08-24T14:15:22Z",
    "details": {
      "instructedAmount": 0,
      "fixedSide": "stri",
      "sellCurrency": "str",
      "buyCurrency": "str"
    },
    "margin": {
      "amount": 0.05,
      "account": {
        "owner": "string",
        "iban": "string"
      }
    },
    "endToEndId": "string",
    "unstructuredInformation": "string"
  }
}

Code copied

Response (application/json)

202 Success
400 Bad Request

Bad Request

{
  "type": "string",
  "title": "string",
  "status": 0,
  "detail": "string",
  "instance": "string",
  "property1": null,
  "property2": null
}

Code copied

Associated Endpoint
- postCreate a Foreign Exchange (FX) buy and sell order
Webhook

This webhook confirms that the FX trade has been booked.

Request body

{
    "Type":"Fx.Trade.Executed",
    "Version": 1,
    "Payload": {...},
    "Nonce":
}

Payload

Element	Description
`SellAccountOwner`	Required The name used to identify the legal owner of the account from which to debit funds. Type: `string` Min. Length: `1` Max. Length: `140`
`SellAccountIban`	Required International Bank Account Number associated with the Sell Account. Type: `string` Min. Length: `1` Max. Length: `35`
`BuyAccountOwner`	Required The name used to identify the legal owner of the account in which to credit funds. Type: `string` Min. Length: `1` Max. Length: `140`
`BuyAccountIban`	Required International Bank Account Number associated with the Buy Account. Type: `string` Min. Length: `1` Max. Length: `35`
`Attestation`	Required Confirmation that the Sell Account and Buy Account are owned by the same legal owner. Options that can be specified are Y and N. Must be Y for the FX trade to be created successfully. Type: `string` Min. Length: `1` Max. Length: `1`
`ValueDate`	Required Settlement date for the FX trade. Type: `string` Format: `date-time` Min. Length: `1`
`InstructedAmount`	Required Amount instructed to buy or sell. Type: `number` Format: `decimal`
`FixedSide`	Required The side of the trade to be fixed. This can either be buy or sell. Type: `string` Min. Length: `3` Max. Length: `4`
`BuyCurrency`	Required Three-letter ISO currency code for the currency to buy. Type: `string` Min. Length: `3` Max. Length: `3`
`SellCurrency`	Required Three-letter ISO currency code for the currency to sell. Type: `string` Min. Length: `3` Max. Length: `3`
`Margin`	Optional The optional margin (as a percentage) from the trade to be credited to a margin account. Type: `number` Format: `decimal`
`MarginAccountIban`	Optional International Bank Account Number associated with the account in which the margin amount is to be deposited. Type: `string` Min. Length: `1` Max. Length: `35`
`EndToEndId`	Required Unique identifier provided to ClearBank for the FX trade. Type: `string` Min. Length: `1` Max. Length: `35`
`UnstructuredInformation`	Optional Additional, optional information about the FX trade. Type: `string` Max. Length: `140`
`Symbol`	Required Currency pair for the FX trade. Type: `string` Min. Length: `1`
`FIReceivedMarginAmount`	Optional Margin amount received by the financial institution if an optional margin has been applied to the FX trade. Type: `number` Format: `decimal`
`BuyAmount`	Required The amount of currency purchased. Type: `number` Format: `decimal`
`SellAmount`	Required The amount of currency sold. Type: `number` Format: `decimal`
`ClearBankRate`	Required Exchange rate given to the financial institution by ClearBank. Type: `number` Format: `decimal`
`FIRate`	Required Exchange rate applied after the financial institution margin (if any) has been deducted. Type: `number` Format: `decimal`
`RequestedTime`	Required Date and time for when the FX trade was received. Type: `string` Format: `date-time` Min. Length: `1`
`ExecutedTime`	Required Date and time for when the FX trade was executed. Type: `string` Format: `date-time` Min. Length: `1`

Example FX Trade Executed webhook request body

{
    "Type":"Fx.Trade.Executed",
    "Version":1,
    "Payload":{
        "SellAccountOwner":"Selling Bank",
        "SellAccountIban":"GB00CUBK22002243218765",
        "BuyAccountOwner":"Buying Bank",
        "BuyAccountIban":"GB00CUBK44556687654321",
        "Attestation":"Y",
        "ValueDate":"2021-04-29T11:36:51.4635892Z",
        "InstructedAmount":1000,
        "FixedSide":"Sell",
        "BuyCurrency":"EUR",
        "SellCurrency":"GBP",
        "Margin":0.001,
        "MarginAccountIban":"GB00CUBK11223312345678",
        "EndToEndId":"bd382f05e8fa4056b25e",
        "UnstructuredInformation":"Client order ID: HGN76934",
        "Symbol":"EUR/GBP",
        "FIReceivedMarginAmount":1.16,
        "BuyAmount":1163.74684512785,
        "SellAmount":1000,
        "ClearBankRate":0.858434121,
        "FIRate":0.859293414,
        "RequestedTime":"2021-04-29T11:36:52.7262458Z",
        "ExecutedTime":"2021-04-29T11:36:52.7262514Z"
    },
    "Nonce":1449825370
}

Example webhook response

{
    "Nonce": 1449825370
}

This webhook confirms that the FX trade has been settled.

Request body

{
    "Type":"Fx.Trade.Settled",
    "Version": 1,
    "Payload": {...},
    "Nonce":
}

Payload

Element	Description
`SellAccountOwner`	Required The name used to identify the legal owner of the account from which to debit funds. Type: `string` Min. Length: `1` Max. Length: `140`
`SellAccountIban`	Required International Bank Account Number associated with the Sell Account. Type: `string` Min. Length: `1` Max. Length: `35`
`BuyAccountOwner`	Required The name used to identify the legal owner of the account in which to credit funds. Type: `string` Min. Length: `1` Max. Length: `140`
`BuyAccountIban`	Required International Bank Account Number associated with the Buy Account. Type: `string` Min. Length: `1` Max. Length: `35`
`Attestation`	Required Confirmation that the Sell Account and Buy Account are owned by the same legal owner. Options that can be specified are Y and N. Must be Y for the FX trade to be created successfully. Type: `string` Min. Length: `1` Max. Length: `1`
`ValueDate`	Required Settlement date for the FX trade. Type: `string` Format: `date-time` Min. Length: `1`
`InstructedAmount`	Required Amount instructed to buy or sell. Type: `number` Format: `decimal`
`FixedSide`	Required The side of the trade to be fixed. This can either be buy or sell. Type: `string` Min. Length: `3` Max. Length: `4`
`BuyCurrency`	Required Three-letter ISO currency code for the currency to buy. Type: `string` Min. Length: `3` Max. Length: `3`
`SellCurrency`	Required Three-letter ISO currency code for the currency to sell. Type: `string` Min. Length: `3` Max. Length: `3`
`Margin`	Optional The optional margin (as a percentage) from the trade to be credited to a margin account. Type: `number` Format: `decimal`
`MarginAccountIban`	Optional International Bank Account Number associated with the account in which the margin amount is to be deposited. Type: `string` Min. Length: `1` Max. Length: `35`
`EndToEndId`	Required Unique identifier provided to ClearBank for the FX trade. Type: `string` Min. Length: `1` Max. Length: `35`
`UnstructuredInformation`	Optional Additional, optional information about the FX trade. Type: `string` Max. Length: `140`
`DebitTransactionId`	Required Unique identifier defined by ClearBank for each debit transaction. Type: `string` Format: `GUID` Min. Length: `1`
`DebitAmount`	Required Amount that has been debited from the sell account. Type: `number` Format: `decimal`
`DebitCurrency`	Required Three-letter ISO currency code for the debit transaction. Type: `string` Min. Length: `3` Max. Length: `3`
`DebitTransactionIdentifiers`	Optional Additional identifiers assigned to the debit transaction. It is an array of objects with a `Scope`, `Name` and `Identifier`. Type: `array` `Scope` Type: `string` `Name` Type: `string` `Identifier` Type: `string`
`DebitAdditionalProperties`	Optional Additional properties assigned to the debit transaction which relate to the FX Trade. It is an array of objects with a `Key` and `Value`. Type: `array` `Key` Type: `string` `Value` Type: `string`
`DebitCreatedAt`	Required Date and time for when the debit transaction was created. Type: `string` Format: `date-time` Min. Length: `1`
`DebitSettledAt`	Required Date and time for when the debit transaction was settled. Type: `string` Format: `date-time` Min. Length: `1`
`CreditTransactionId`	Required Unique identifier defined by ClearBank for each credit transaction. Type: `string` Format: `GUID` Min. Length: `1`
`CreditAmount`	Required Amount that has been credited to the buy account. Type: `number` Format: `decimal`
`CreditCurrency`	Required Three-letter ISO currency code for the credit transaction. Type: `string` Min. Length: `3` Max. Length: `3`
`CreditTransactionIdentifiers`	Optional Additional identifiers assigned to the credit transaction. It is an array of objects with a `Scope`, `Name` and `Identifier`. Type: `array` `Scope` Type: `string` `Name` Type: `string` `Identifier` Type: `string`
`CreditAdditionalProperties`	Optional Additional properties assigned to the credit transaction which relate to the FX Trade. It is an array of objects with a `Key` and `Value`. Type: `array` `Key` Type: `string` `Value` Type: `string`
`CreditCreatedAt`	Required Date and time for when the credit transaction was created. Type: `string` Format: `date-time` Min. Length: `1`
`CreditSettledAt`	Required Date and time for when the credit transaction was settled. Type: `string` Format: `date-time` Min. Length: `1`
`MarginTransactionId`	Optional Unique identifier defined by ClearBank for each margin transaction. Type: `string` Format: `GUID`
`MarginAmount`	Optional The margin amount credited to the margin account. Type: `number` Format: `decimal`
`MarginCurrency`	Optional Three-letter ISO currency code for the margin transaction. Type: `string` Min. Length: `3` Max. Length: `3`
`MarginTransactionIdentifiers`	Optional Additional identifiers assigned to the margin transaction. It is an array of objects with a `Scope`, `Name` and `Identifier`. Type: `array` `Scope` Type: `string` `Name` Type: `string` `Identifier` Type: `string`
`MarginAdditionalProperties`	Optional Additional properties assigned to the margin transaction which relate to the FX Trade. It is an array of objects with a `Key` and `Value`. Type: `array` `Key` Type: `string` `Value` Type: `string`
`MarginCreatedAt`	Optional Date and time for when the margin transaction was created. Type: `string` Format: `date-time`
`MarginSettledAt`	Optional Date and time for when the margin transaction was settled. Type: `string` Format: `date-time`

Example FX Trade Settled webhook request body

{
    "Type":"Fx.Trade.Settled",
    "Version":1,
    "Payload":{
        "SellAccountOwner":"Smith",
        "SellAccountIban":"GB38CLRB04040100003764",
        "BuyAccountOwner":"Smith",
        "BuyAccountIban":"GB14CLRB04040541930570",
        "Attestation":"Y",
        "ValueDate":"2021-06-04T12:24:59.969Z",
        "InstructedAmount":1000,
        "FixedSide":"Sell",
        "BuyCurrency":"EUR",
        "SellCurrency":"GBP",
        "Margin":0.001,
        "MarginAccountIban":"GB38CLRB04040100003764",
        "EndToEndId":"8gIlFlqLBX01TmCO7138DbcEmNWJk0OXjC0",
        "UnstructuredInformation":"Unstructured Information",
        "DebitTransactionId":"28bfd9f5-d4a3-4466-8fa8-600a630a466d",
        "DebitAmount":1000,
        "DebitCurrency":"GBP",
        "DebitTransactionIdentifiers":[
            
        ],
        "DebitAdditionalProperties":[
            
        ],
        "DebitCreatedAt":"2021-06-04T12:25:11.6041133Z",
        "DebitSettledAt":"2021-06-04T12:25:12.8510952Z",
        "CreditTransactionId":"e444fa2e-891a-42b8-82df-815007b2c90e",
        "CreditAmount":1163.74684512785,
        "CreditCurrency":"EUR",
        "CreditTransactionIdentifiers":[
            {
                "Scope":"AutoFXTradeOrders",
                "Name":"TradeRequestID",
                "Identifier":"bafa1d1f-461d-4cee-a092-afc3658b4776"
            },
            {
                "Scope":"JPMExecutionReports",
                "Name":"ExecutionID",
                "Identifier":"bafa1d1f-461d-4cee-a092-afc3658b4776"
            }
        ],
        "CreditAdditionalProperties":[
            {
                "Key":"FixedSide",
                "Value":"Sell"
            }
        ],
        "CreditCreatedAt":"2021-06-04T12:25:15.1297014Z",
        "CreditSettledAt":"2021-06-04T12:25:15.2053396Z",
        "MarginTransactionId":"8fdb8482-894c-4d4a-bd12-a0fe76505c6e",
        "MarginAmount":1.16,
        "MarginCurrency":"EUR",
        "MarginTransactionIdentifiers":[
            
        ],
        "MarginAdditionalProperties":[
            
        ],
        "MarginCreatedAt":"2021-06-04T12:25:16.1273482Z",
        "MarginSettledAt":"2021-06-04T12:25:16.6258492Z"
    },
    "Nonce":369049401
}

Example webhook response

{
    "Nonce": 369049401
}

This webhook confirms that an FX trade has been cancelled. If a same-day trade fails (for example, due to insufficient funds), you are immediately notified of the failure, after which you recieve this webhook informing you that ClearBank has cancelled the trade.

Request body

{
    "Type":"Fx.Trade.Cancelled",
    "Version": 1,
    "Payload": {...},
    "Nonce":
}

Payload

Element	Description
`SellAccountOwner`	Required The name used to identify the legal owner of the account from which to debit funds. Type: `string` Min. Length: `1` Max. Length: `140`
`SellAccountIban`	Required International Bank Account Number associated with the Sell Account. Type: `string` Min. Length: `1` Max. Length: `35`
`BuyAccountOwner`	Required The name used to identify the legal owner of the account in which to credit funds. Type: `string` Min. Length: `1` Max. Length: `140`
`BuyAccountIban`	Required International Bank Account Number associated with the Buy Account. Type: `string` Min. Length: `1` Max. Length: `35`
`Attestation`	Required Confirmation that the Sell Account and Buy Account are owned by the same legal owner. Options that can be specified are Y and N. Must be Y for the FX trade to be created successfully. Type: `string` Min. Length: `1` Max. Length: `1`
`ValueDate`	Required Settlement date for the FX trade. Type: `string` Format: `date-time` Min. Length: `1`
`InstructedAmount`	Required Amount instructed to buy or sell. Type: `number` Format: `decimal`
`FixedSide`	Required The side of the trade to be fixed. This can either be buy or sell. Type: `string` Min. Length: `3` Max. Length: `4`
`BuyCurrency`	Required Three-letter ISO currency code for the currency to buy. Type: `string` Min. Length: `3` Max. Length: `3`
`SellCurrency`	Required Three-letter ISO currency code for the currency to sell. Type: `string` Min. Length: `3` Max. Length: `3`
`Margin`	Optional The optional margin (as a percentage) from the trade to be credited to a margin account. Type: `number` Format: `decimal`
`MarginAccountIban`	Optional International Bank Account Number associated with the account in which the margin amount is to be deposited. Type: `string` Min. Length: `1` Max. Length: `35`
`EndToEndId`	Required Unique identifier provided to ClearBank for the FX trade. Type: `string` Min. Length: `1` Max. Length: `35`
`UnstructuredInformation`	Optional Additional, optional information about the FX trade. Type: `string` Max. Length: `140`
`CancellationCode`	Required Cancellation code. Type: `string` Min. Length: `1`
`CancellationReason`	Required Reason FX trade was cancelled. Type: `string` Min. Length: `1`

Example FX Trade Cancelled webhook request body

{
    "Type":"Fx.Trade.Cancelled",
    "Version":1,
    "Payload":{
        "SellAccountOwner":"Selling Bank",
        "SellAccountIban":"GB00CUBK22002243218765",
        "BuyAccountOwner":"Buying Bank",
        "BuyAccountIban":"GB00CUBK44556687654321",
        "Attestation":"Y",
        "ValueDate":"2021-04-29T11:36:51.4635892Z",
        "InstructedAmount":1000.0,
        "FixedSide":"BUY",
        "BuyCurrency":"EUR",
        "SellCurrency":"GBP",
        "Margin":0.5,
        "MarginAccountIban":"GB00CUBK11223312345678",
        "EndToEndId":"bd382f05e8fa4056b25e",
        "UnstructuredInformation":"Client order ID: HGN76934",
        "CancellationCode":"1",
        "CancellationReason":"Account validation failed"
    },
    "Nonce":2051888317
}

Example webhook response

{
    "Nonce": 2051888317
}

This webhook notifies that the settlement of an FX trade has failed. In contrast to the FX Trade Cancelled webhook, this applies to transactions that are not settled on the same day as booked. In practice, the settlement only fails if the payer account is insufficiently provisioned at the moment of settlement.

Request body

{
    "Type":"Fx.Trade.Settlement.Failed",
    "Version": 1,
    "Payload": {...},
    "Nonce":
}

Payload

Element	Description
`SellAccountOwner`	Required The name used to identify the legal owner of the account from which to debit funds. Type: `string` Min. Length: `1` Max. Length: `140`
`SellAccountIban`	Required International Bank Account Number associated with the Sell Account. Type: `string` Min. Length: `1` Max. Length: `35`
`BuyAccountOwner`	Required The name used to identify the legal owner of the account in which to credit funds. Type: `string` Min. Length: `1` Max. Length: `140`
`BuyAccountIban`	Required International Bank Account Number associated with the Buy Account. Type: `string` Min. Length: `1` Max. Length: `35`
`Attestation`	Required Confirmation that the Sell Account and Buy Account are owned by the same legal owner. Options that can be specified are Y and N. Must be Y for the FX trade to be created successfully. Type: `string` Min. Length: `1` Max. Length: `1`
`ValueDate`	Required Settlement date for the FX trade. Type: `string` Format: `date-time` Min. Length: `1`
`InstructedAmount`	Required Amount instructed to buy or sell. Type: `number` Format: `decimal`
`FixedSide`	Required The side of the trade to be fixed. This can either be buy or sell. Type: `string` Min. Length: `3` Max. Length: `4`
`BuyCurrency`	Required Three-letter ISO currency code for the currency to buy. Type: `string` Min. Length: `3` Max. Length: `3`
`SellCurrency`	Required Three-letter ISO currency code for the currency to sell. Type: `string` Min. Length: `3` Max. Length: `3`
`Margin`	Optional The optional margin (as a percentage) from the trade to be credited to a margin account. Type: `number` Format: `decimal`
`MarginAccountIban`	Optional International Bank Account Number associated with the account in which the margin amount is to be deposited. Type: `string` or `null` Min. Length: `1` Max. Length: `35`
`EndToEndId`	Required Unique identifier provided to ClearBank for the FX trade. Type: `string` Min. Length: `1` Max. Length: `35`
`UnstructuredInformation`	Optional Additional, optional information about the FX trade. Type: `string` or `null` Max. Length: `140`
`CancellationCode`	Required Cancellation code. Type: `string` Min. Length: `1`
`CancellationReason`	Required Reason FX order was cancelled. Type: `string` Min. Length: `1`
`WillBeRetried`	Required Whether the settlement will be retried; defaults to `false`. Type: `boolean`
`ReversalFee`	Required Fee incurred due to reversal of executed trade. Type: `number` Format: `decimal`
`ReversalFeeCurrency`	Required Three-letter ISO currency code for the currency of the reversal fee. Type: `string` Min. Length: `3` Max. Length: `3`

Example FX Trade Settlement Failed webhook request body

{
    "Type":"Fx.Trade.Settlement.Failed",
    "Version":1,
    "Payload":{
        "SellAccountOwner":"Selling Bank",
        "SellAccountIban":"GB00CUBK22002243218765",
        "BuyAccountOwner":"Buying Bank",
        "BuyAccountIban":"GB00CUBK44556687654321",
        "Attestation":"Y",
        "ValueDate":"2021-04-29T11:36:51.4635892Z",
        "InstructedAmount":1000.0,
        "FixedSide":"BUY",
        "BuyCurrency":"EUR",
        "SellCurrency":"GBP",
        "Margin":0.5,
        "MarginAccountIban":"GB00CUBK11223312345678",
        "EndToEndId":"bd382f05e8fa4056b25e",
        "UnstructuredInformation":"Client order ID: HGN76934",
        "CancellationCode":"1",
        "CancellationReason":"Insufficient funds",
        "WillBeRetried":"false",
        "ReversalFee":2.50,
        "ReversalFeeCurrency":"GBP"
    },
    "Nonce":2051888318
}

Example webhook response

{
    "Nonce": 2051888318
}

API

GBP Accounts

UK Payments

Multi-currency/FX

Embedded Banking

FX trade

Foreign exchange trade

Example: Specifying the sell amount with margin

Example: Specifying the buy amount with margin

Create a Foreign Exchange (FX) buy and sell order

Parameters

Request Payload (application/json)

request

Response (application/json)

Bad Request

Associated Webhooks

FX trade webhooks

Associated Endpoint

Webhook