Request for Quote

Overview

The Request for Quote (RFQ) API suite enables you to request real-time foreign exchange rates and book contracts upfront to execute payments with those rates. After execution, you are able to submit settlement instructions referencing the booked contract through any Treasury Services FX payment channel (API, SWIFT, FEDWIRE, H2H, J.P. Morgan ACCESS).

The offering consists of three different API calls:

Quote Request API

• Provide preliminary payment details (currency pair, amounts, value date, etc.) on call to J.P. Morgan.
• J.P. Morgan responds back with a real-time FX rate based on the provided details and a quote identifier.
• Rates can be informational or executable, depending on the client’s request.
• Executable rates are valid for two minutes.

Trade Request API

• ·The RFQ API can be used to confirm you want to make a payment based off of the rate requested over the Quote Request API.
• Provide the quote identifier and some payment details on the call to J.P. Morgan.
• J.P. Morgan responds back with a confirmation that a trade was booked to facilitate a future payment, and a contract ID to identify the trade.
• Provide contract ID on payment instruction to settle the trade.

Cancellation Request API

• If you no longer need to make a payment, use this API to cancel a trade booked with the RFQ API.
• Provide contract ID previously provided over the trade request API on the call to J.P. Morgan.
• J.P. Morgan responds back with a confirmation that the trade was reversed.

Benefits

Availability

The Request For Quote (RFQ) API is available for accounts in the following countries:

• Australia
• Canada
• England
• France
• Germany
• Hong Kong
• India
• Ireland

Next Steps