Notifying FXPs of completed payments

When Nexus successfully processes a payment which references an FXP’s quote, Nexus will send a notification to an API endpoint provided by the FX Provider.

The notification will give the following details:

• Date and time of payment

• Unique End-to-End Transaction Reference (UETR) of the underlying payment

• Currency & amounts:

  • Source Currency

  • Amount in Source Currency

  • Destination Currency

  • Amount in Destination Currency

  • Exchange Rate

• Parties:

  • Source PSP (Debtor Agent)

  • Destination PSP (Creditor Agent)

  • (No Personally Identifiable Information on the Debtor and Creditor)

• Audit trail:

  • ID of the FXP’s rate on which this quote was based

  • ID of the tier (if applicable) that applied to the quote

  • ID of the relationship record which links the PSP and FXP (which includes the PSP improvement, if any)

These notifications allow the FXP to update their internal records and monitor the balance of each of their accounts.

The FXP is responsible for processing these notifications in order to update their internal systems to keep track of their liquidity.

Nexus assumes that the Source SAP and Destination SAP do not provide real-time notification of transactions to the FXP. In case they do, the FXP should be careful not to double-count the transaction. Notifications from Nexus will be sent immediately so that the FXP can keep track of their liquidity.