Settlements
what's due, what's owed, and exactly what to do when something slips
Due to settle
reminders fire 3 days and 1 day before value date
Vantage · AUD/GBP
Value date 28 September — on track
Worldwide Currencies · GBP/USD
Value date 15 October — on track
If a trade doesn't settle
Same steps, every time:
1. Call the broker. Log the call.
2. No answer within 2 hours — call their senior contact directly.
3. Still nothing by end of day — flag to an FBC director and note it on the trade.
4. Next morning — decide margin call, roll, or close-out. Two approvals needed.
Commission owed to FBC
due within 7 working days of settlement · no invoices
| Broker | Trade | Settled | Our 50% share | Due by | Status | |
|---|---|---|---|---|---|---|
| Vantage | AUD/GBP | 18 Jul | £12,000 | 27 Jul | Overdue | |
| Quayside | GBP/JPY | 27 Jul | £6,000 | 5 Aug | Awaiting |
Settled — itemised
for finance
Quayside · GBP/JPY
gross £12,000 · FBC £6,000
Vantage · AUD/GBP
gross £24,000 · FBC £12,000
July to date
FBC share of settled trades