Our FX Market Order API allows currency conversions and hedging from your own systems. You could e.g. make the API trade FX based on your invoices or payment data, moving FX processes from manual to automated.
Using the FX Market Order API allows you to execute currency conversions at the current market rate via simple integration to your own preferred systems and according to your own rules and triggers. The available FX products are SPOT, Forward and SWAP.
For example, a USD payment in your ERP system might trigger an exchange of USD to your home currency. The API allows you to execute this conversion at a value date of your own choice, or even as an FX SWAP. You might also have a mismatch on your account balances. The API can then automate the process of making the desired conversions or swaps.
An API (Application Programming Interface) is a software intermediary allowing two applications or systems to talk to each other. It enables tasks that would normally be handled over the phone or on separate platforms to be automated and allowing your systems and Nordea’s systems to communicate and perform the task instead.
Our API products are made available on our Open Banking PlatformOpens new window to customers, and in some instances to third parties. To check if you have the technical integration required to connect to and use the API, you are welcome to check your workflows in our sandbox environmentOpens new window without any additional on-boarding.
When trading financial derivatives via the FX Market Order API, you must be aware of and understand the potential risks. The FX Market Order API agreement is binding, regardless of what happens to the market rate and the commercial agreements that you intend to hedge.
You can find more information about FX Forwards and FX Swaps in the relevant KID (”Key Information Document”)Opens new window.
Contact your Nordea advisor directly or send us a mail.
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