PSP-based improvements
FX Providers may also want to offer better rates to specific PSPs, for example, PSPs that already have a strong business relationship with the FXP. In Nexus this works as follows:
- An FXP can define the PSPs to which it wishes to offer improved rates
- For each PSP, the FXP can define how much the base rate should be improved, in basis points.
- When a Source PSP calls the
GET /quotes/
API, Nexus will check whether any FXPs have registered preferential rates for that PSP and apply the improvement to the FXP's base rate. - An FXP does not need to set any PSP-based improvements. If no PSP-based improvement is set for a specific PSP, the base rate will apply.
ELEMENT | USAGE | EXAMPLES |
Id | Primary key of this PSP-based improvement, unique to a specific FXP and specific PSP | 3289 |
FXP Id | Internal Nexus ID for the FXP (not external ID such as BIC or LEI, which is used in the API requests and responses) | 1301 |
PSP Id | Internal Nexus ID for the PSP (not external ID such as BIC or LEI) | 0592 |
Improvement | An improvement, recorded in basis points, which is applied to the rates after any tier-based improvements have been calculated. | 30 |
DateTimeExpired | Initially blank. When the FXP issues a new Improvement for this PSP, the old one is set to expire. | |
FXP Id | PSP Id (this would be a BIC) | IMPROVEMENT in basis points (applied to the base rate in the FXP’s quote) |
FXP-A | PSP-C | 25 |
FXP-A | PSP-D | 50 |
FXP-B | PSP-D | 30 |
Last modified 21d ago