In this section we will cover:
- How to use a Volume ladder for Spots
- How to use a Tenor ladder for Forwards
- How to use Swap ladders
Using Volume ladders for Spots
A volume ladder allows you to view streaming rates alongside various trade amounts (volumes). Accessing the Volume ladder for the first time will provide an empty ladder for allocating volumes. You can enter up to nine different sets of volumes (amounts) onto the ladder. When you have populated the Volume ladder with a set of volumes, streaming rates will appear on either side of each volume.
An FX Tile can be changed into a volume ladder for a particular currency pair using the menu icon:
Execute trades with a Volume ladder
Click a on a buy or sell rate to execute a trade:
Using Tenor ladders for Forwards
A Tenor ladder displays a set of prearranged Tenor dates for quickly executing Forward trades. Alongside each Tenor date are the respective Buy/ Sell rates, these rates represent the All-in rate, or the outright rate given the associated Tenor. The rates are indicative of the current Spot rate plus the estimated forward points i.e. how much the Spot rate is likely to change over the Tenor (1 week, 1 year etc.).
As with Volume ladders, an FX Tile can also be switched into a Tenor ladder using the menu icon:
Execute trades with a Tenor ladder
You can click on a rate to execute a Forward trade immediately; the rate clicked will be used as the agreed rate when settlement takes place at the given Tenor:
Using Swap ladders
Swap trades are transactions that involve the actual exchange of two currencies on a specific date at a rate agreed at the time of the conclusion of the contract (near leg), at a date further in the future at a rate agreed at the time of the contract (the far leg).The Swap ladder can be used to set up Swaps by detailing a list of various Swap prices at prearranged Tenors. Tenors that are displayed on a Swap ladder can be revised at any time prior to execution.
An FX Tile can be switched into a Swap ladder using the menu icon:
Execute trades with a Swap ladder
The execution of Swap trades are not handled by FX Tiles, instead Swap execution is done using other components within the FX Professional web app. These components are known as Trade Tickets - documentation on tickets will be made available soon.
FX Tiles Documentation:
- Section 1 - Using an FX Tile
- Section 2 - Using other FX Tile components
- Section 3 - Validation and Error messages
- Section 4 - One-way pricing
- Section 5 - NDF Tiles
- Section 6 - Integrating FX data with a tile
- Section 7 - System Availability and Permissioning
- Section 8 - Code architecture