| Inward Settlement Cut-off | T+0 Trading Cut-off | Outward Settlement Cut-Off | Deal Terms Available |
NGN | 16:00 | 15:00 | 16:30 | T+0, T+1, T+2 |
KES | 11:00 | 9:30 | 12:00 | T+0, T+1, T+2 |
GBP | 16:00 | 15:00 | 17:00 | T+0, T+1, T+2 |
USD | 15:00 | 14:00 | 16:30 | T+0, T+1, T+2 |
EUR | 13:00 | 12:00 | 14:00 | T+0, T+1, T+2 |
XOF | 09:00 | N/A | 11:00 | T+2 |
XAF | 09:00 | N/A | 11:00 | T+2 |
TZS | 09:00 | N/A | 11:00 | T+2 |
When calculating a pair cut-off time, take the earlier of the two currencies. When calculating available deal terms taking the longer of the two.
For example, on a KES/USD trade, the inward settlement time of KES is 11:00, and the opposing trade USD/KES is 11:00. KES/USD is available on T+0, T+1 and T+2 deal types.
If funds are not received before this time the trade is rolled, and opposing currency is paid out the next working day.
T+0 Trading Cut-Off refers to the latest time an FX deal can be booked for same-day settlement.
T+1 and T+2 deals are available throughout the day with no booking cut-off times. Payment is inward and outward cut-off times still apply on the day of settlement.
If a T+0 deal is booked funds must still arrive prior to the inward settlement cut-off.
Where funds already sit with Verto, in a client's wallet, exceptions can be made to the inward settlement cut-off as long as the outward settlement has not passed. This is subject to confirmation of FX Dealing team on a case-by-case basis.
Repeat failure to settle funds on time will result in limitations being placed on trading terms. Typically this takes the form of ineligibility for T+0 trading, and earlier settlement cut-off times by 2hrs for the respective currency.
Outward Settlement Cut-Off refers to the cut-off time for outward payment processing requests to be made. Payment requested before this time will be processed the same day subject to compliance review not being required.