Quotation, settlement and reconciliation of a large-ticket OTC transaction
From quotation request to statement: the stages a large-ticket conversion passes through at Digital Reserve and the record each one leaves.
A large-ticket conversion differs fundamentally from an exchange order: the amount is substantial, the counterparty must complete due diligence, the funds must be settled to a bank account, and each stage must leave a record suitable for audit. The following sets out the complete process of an OTC transaction at Digital Reserve.
Quotation request. The client submits the asset, direction, size range and settlement method through a relationship manager or the client portal. The portal accepts submissions at any time; the desk responds with a quotation within Sydney and Hong Kong business hours. Quotations are two-way and carry a validity period.
Confirmation. The client confirms within the validity period and the price is locked. A single quotation, not split into multiple tickets, with no additional spread after execution. Confirmation generates the trade confirmation.
Delivery. Digital assets are received at a dedicated address opened for the client under Fireblocks MPC wallet technology and screened by Elliptic before being credited. Fiat is received and paid through the company's banking channels. Client funds are segregated from company funds.
Settlement. Converted funds are settled to the designated bank account or wallet address in the client's own or corporate name. Fiat settlement is subject to banking days and cut-off times and is typically completed on the same or the next business day. The company does not commit to settlement timing; it commits to a record at every stage.
Reconciliation. The client receives the trade confirmation, conversion record and settlement record, together with a monthly statement. On-chain transactions carry their transaction hash; transfers subject to the Travel Rule carry the information transfer record. These records may be provided directly to auditors, tax advisers and banks.
Pricing. OTC quotations are all-inclusive, with no undisclosed fees, and are set per client on volume and frequency. The company does not publish a fee schedule: the price of an OTC transaction depends on asset, size, direction, settlement method and frequency, and a single figure would not be representative.
Request a quotation
Please state the asset, size range and trading frequency.