The Reserve Bank of India has introduced a foreign exchange trading platform called FX-RETAIL, which is operated by the Clearing Corporation of India Limited (“CCIL”). This web-based platform enables participants to purchase/sell foreign exchange electronically and is open to all customers via banks.
Key Features of the FX Retail Platform:
- The platform provides for anonymous and order driven dealing in USD/INR Cash, Tom, Spot & Forward instruments. BNP Paribas India is currently offering only Spot rates via this platform & other eligible trades shall be offered in phased manner under advice to you
- The platform provides fair and transparent pricing.
- Orders are matched based on price time priority.
- A customer can deal or place orders, as well as, modify and cancel orders on the trading platform.
- A customer can add multiple relationship banks on the platform.
- A relationship bank can be the processing and settlement bank even if the currency is traded through a third party.
How to Register
- Visit https://www.fxretail.co.in/#/login and click on ‘Register Here’.
- Submit details such as Customer Profile and Bank Relationship etc. in the registration tab
- Once registration is completed, the information will flow to the relationship bank.
- If BNP Paribas India is selected as the Relationship Bank, our Relationship Manager shall get in touch with you to complete the documentation and onboarding formalities.
- Onboarding formalities must be completed within 30 days of registration. BNP Paribas India shall reject registration requests if formalities are not completed within the stipulated timeline of 30 days.
- After completion of onboarding formalities, the user can start dealing on the platform.
Please refer to this link for more details i.e. Steps for Registration/Technical Document/FAQs, etc.
Kindly get in touch with your relationship manager or your trade sales manager for any additional information or assistance.
BNP Paribas India
- Annexure – Onboarding formalities -:CCIL standard terms and conditions to be accepted online during registration Terms & Conditions
- FX-Retail Customer Agreement to be signed in wet-ink and submitted to the bank to complete the registration and onboarding process. FX retail client: Customer Agreement
Click here to view the General Banking Terms & Conditions.